J & J Snack Foods reports fiscal Q2 net earnings of US$13.5M, up 7% from year-ago period as net sales rise 2% to US$205.3M

Nevin Barich

PENNSAUKEN, New Jersey , April 28, 2014 (press release) – J & J Snack Foods Corp. (JJSF) today announced sales and earnings for the second quarter ended March 29, 2014.

Sales increased 2% to $205.3 million from $201.3 million in last year's second quarter. Net earnings increased 7% to $13.5 million in the current quarter from $12.7 million last year. Earnings per diluted share increased 7% to $.72 for the second quarter from $.67 last year. Operating income increased 6% to $20.3 million in the current quarter from $19.2 million in the year ago quarter.

For the six months ended March 29, 2014, sales increased 4% to $408.8 million from $392.8 million in last year's first half. Net earnings increased 13% to $25.9 million in the six months from $22.9 million last year. Earnings per diluted share increased to 14% to $1.38 for the six months from $1.21 last year. Operating income increased 12% to $38.3 million from $34.2 million in the year ago period.

Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "Even though our sales and earnings were up for the quarter, we were impacted by the severe weather during the period. It appears that the "thaw into spring" has helped spring our sales back to higher levels as sales for our first three weeks of April were up 8% over our sales for the first three weeks of last year's April."

J&J Snack Foods Corp. is a leader and innovator in the snack food industry, providing nutritional and affordable branded niche snack foods and beverages to foodservice and retail supermarket outlets. Manufactured and distributed nationwide, our principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI'S, MINUTE MAID* frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B'S biscuits and dumplings, DADDY RAY'S fig and fruit bars, CALIFORNIA CHURROS and TIO PEPE'S churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several cookie brands within COUNTRY HOME BAKERS. For more information, please visit us at www.jjsnack.com.

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