J & J Snack Foods Reports Sales and Earnings

Wed. July 29, 2009; Posted: 11:31 PM

Jul 29, 2009 (Close-Up Media via COMTEX) -- JJSF | Quote | Chart | News | PowerRating -- J & J Snack Foods announced record sales and earnings for its third quarter and nine months ended June 27.

In a July 23 release, the company reported sales for the third quarter increased 2 percent to $179.8 million from $176.8 million in last year's third quarter. Net earnings increased 38 percent to $14.9 million from $10.8 million last year. Earnings per diluted share were $.80 for the June quarter compared to $.57 last year. Operating income increased 40 percent to $24.4 million this year from $17.5 million in the year ago period.

Gerald B. Shreiber, J & J's President and CEO, said; "We had strong performances from our food service and retail grocery groups during the quarter. Although we continue to be challenged with issues facing the overall economy, we are confident of our abilities to overcome these issues."

For the nine months ended June 27, sales increased 4 percent to $470.3 million from $452.0 million in last year's nine months. Net earnings increased 58 percent to $26.5 million in the nine months from $16.7 million last year. Earnings per diluted share were $1.42 for the nine months compared to $.88 last year. Operating income increased 69 percent to $43.1 million from $25.5 million in the year ago period.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

For full details on J&J Snack Foods Corp (JJSF) click here. J&J Snack Foods Corp (JJSF) has Short Term PowerRatings of 6. Details on J&J Snack Foods Corp (JJSF) Short Term PowerRatings is available at This Link.

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