J & J Snack Foods Corp. (NASDAQ-JJSF) yesterday announced record sales and earnings for its third quarter ended June 30, 2001.
Sales for the third quarter increased 14% to $100,970,000 from $88,888,000 in last year’s third quarter. Net earnings increased 15% to $5,778,000 compared to $5,010,000 last year. Operating income increased 11% to $9,592,000 from $8,620,000 a year ago. Earnings per diluted share were $.65 based on 8,891,000 shares for the quarter and $.56 based on 8,890,000 shares last year.
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For the nine months ended June 30, 2001, sales increased 12% to $247,847,000 from $222,207,000 in last year’s period. Net earnings decreased 15% to $5,452,000 for the nine months compared to $6,416,000 last year. Operating income decreased 11% to $10,422,000 from $11,739,000 in the year ago period.
Earnings per diluted share were $.63 based on 8,700,000 shares for the nine months compared to $.70 based on 9,200,000 shares last year.
Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented; “We are pleased to see some significant progress in improving our operating and financial performance…we remain committed to further effort and a continuation of improving results.”
J & J Snack Foods Corp.’s principal products include SUPERPRETZEL soft pretzels, ICEE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE-UPS, Minute Maid® and Hi-C® frozen juice bars and ices, TIO PEPE’S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies.
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By GlobalDataJ & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California.
Three Months Ended Nine Months Ended
—————— —————–
June 30, June 24, June 30, June 24,
2001 2000 2001 2000
—- —- —- —-
Net Sales $100,970,000 $88,888,000 $247,847,000 $222,207,000
Net Earnings $ 5,778,000 $ 5,010,000 $ 5,452,000 6,416,000
Earnings Per
Diluted
Share $.65 $.56 $.63 $.70
Weighted
Average
Number
of
Diluted
Shares 8,891,000 8,890,000 8,700,000 9,200,000
Earnings
Per
Basic
Share $.68 $.57 $.64 $.72
Weighted
Average
Number
of Basic
Shares 8,540,000 8,728,000 8,463,000 8,915,000
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof.
Minute Maid and Hi-C are registered trademarks of The Coca-Cola Company.
