-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Jzhnj6EkntdGzz04IuSfDW/U0aoDHf4bpXxFztir5l1Pd7jvEnZKrQzjcdrMkmKC JObaNx94zmGDe05SObgumA== 0001157523-03-001251.txt : 20030423 0001157523-03-001251.hdr.sgml : 20030423 20030423140133 ACCESSION NUMBER: 0001157523-03-001251 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030414 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: J&J SNACK FOODS CORP CENTRAL INDEX KEY: 0000785956 STANDARD INDUSTRIAL CLASSIFICATION: COOKIES & CRACKERS [2052] IRS NUMBER: 221935537 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-14616 FILM NUMBER: 03659752 BUSINESS ADDRESS: STREET 1: 6000 CENTRAL HGWY CITY: PENNSAUKEN STATE: NJ ZIP: 08109 BUSINESS PHONE: 6096659533 MAIL ADDRESS: STREET 1: 6000 CENTRAL HIGHWAY CITY: PENNSAUKEN STATE: NJ ZIP: 08109 8-K 1 a4381819.txt J & J SNACK FOODS CORP. 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 14, 2003 J & J SNACK FOODS CORP. (Exact name of registrant as specified in its charter) New Jersey 0-14616 22-1935537 (State or Other (Commission (I.R.S. Employer Jurisdiction File Number) Identification No.) of Organization) 6000 Central Highway, Pennsauken, NJ 08109 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (856) 665-9533 ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Exhibit Number Description of Document 99.1 Press Release dated April 14, 2003 (furnished pursuant to Items 9 and 12 hereof) 99.2 Press Release dated April 23, 2003 (furnished pursuant to Items 9 and 12 hereof) ITEM 9. REGULATION FD DISCLOSURES (Information is being provided under Item 12 as well as under Item 9, in accordance with SEC Release No. 33-8216.) On April 14, 2003, J & J Snack Foods Corp. issued a press release regarding its repurchase of Company stock and authorization to repurchase additional shares. This press release is furnished in this report, pursuant to Items 9 and 12 hereof, as Exhibit 99.1. On April 23, 2003, J & J Snack Foods Corp. issued a press release regarding its earnings for the second quarter of fiscal 2003 and for fiscal 2003. This press release is furnished in this report, pursuant to Items 9 and 12 hereof, as Exhibit 99.2. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. J & J SNACK FOODS CORP. By: /s/ Gerald B. Shreiber ------------------------ Gerald B. Shreiber President /s/ Dennis G. Moore ------------------------ Dennis G. Moore Chief Financial Officer Date: April 23, 2003 EXHIBIT INDEX Exhibit Number Description 99.1 Press Release dated April 14, 2003 (furnished pursuant to Items 9 and 12 hereof) 99.2 Press Release dated April 23, 2003 (furnished pursuant to I tems 9 and 12 hereof) EX-99 3 a4381819ex1.txt EXHIBIT 1 Exhibit 1 J & J Snack Foods Buys Back 275,000 Shares; Increases Buyback Authorization by 500,000 Shares PENNSAUKEN, N.J.--(BUSINESS WIRE)--April 14, 2003--J & J Snack Foods Corp. (NASDAQ-JJSF) announced today that it has purchased and retired 275,000 shares of its common stock under an existing buyback authorization and that its board of directors has approved the purchase and retirement of an additional 500,000 shares. The Company said that it had purchased the 275,000 shares over the past 2-1/2 months. Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "This is consistent with our previous stated and announced policy of the repurchase of J & J Snack Foods shares from time to time. We will continue to purchase shares from time to time when we feel it is appropriate to do so." 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 and MINUTE MAID(1) frozen juice bars and ices, TIO PEPE'S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California. (1) MINUTE MAID is a registered trademark of The Coca-Cola Company. CONTACT: J & J Snack Foods Corp. Dennis G. Moore, 856/665-9533 EX-99 4 a4381819ex2.txt EXHIBIT 2 Exhibit 2 Profits Increase as J & J Snack Foods Corp. Announces Record Quarter PENNSAUKEN, N.J.--(BUSINESS WIRE)--April 23, 2003--J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings for its second quarter and six months ended March 29, 2003. Sales for the second quarter increased 5% to $81.4 million from $77.7 million in last year's second quarter. Net earnings increased 28% to $3.0 million from $2.3 million last year. Earnings per diluted share were $.33 for the March quarter compared to $.25 last year. Operating income increased 27% to $4.6 million this year from $3.6 million in the year ago period. For the six months ended March 29, 2003, sales increased 4% to $158.7 million from $152.5 million in last year's first half. Net earnings increased 33% to $4.2 million in the six months from $3.2 million last year. Earnings per diluted share were $.46 for the six months compared to $.35 last year. Operating income increased 26% to $6.4 million from $5.1 million in the year ago period. Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "We are pleased with our overall financial performance for the quarter. Several factors including new product sales, strong food service sales and reduction of certain expenses including depreciation contributed to our record quarter. We remain committed to addressing the factors affecting our economy and our industry and growing our business and enhancing shareholder value over the long term." 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 and MINUTE MAID(1) frozen juice bars and ices, TIO PEPE'S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California. (1) MINUTE MAID is a registered trademark of The Coca-Cola Company. Consolidated Statement of Operations ------------------------------------ Three Months Ended Six Months Ended March 29, March 30, March 29, March 30, 2003 2002 2003 2002 -------- -------- -------- -------- (in thousands) Net sales $81,408 $77,712 $158,652 $152,509 Cost of goods sold 54,532 52,556 109,711 105,309 -------- -------- -------- -------- Gross profit 26,876 25,156 48,941 47,200 Operating expenses 22,253 21,514 42,508 42,078 -------- -------- -------- -------- Operating income 4,623 3,642 6,433 5,122 Other income (deductions) 66 (48) 132 (264) -------- -------- -------- -------- Earnings before income taxes 4,689 3,594 6,565 4,858 Income taxes 1,688 1,258 2,363 1,700 -------- -------- -------- -------- Net earnings $ 3,001 $ 2,336 $ 4,202 $ 3,158 ======== ======== ======== ======== Earnings per diluted share $.33 $.25 $.46 $.35 Earnings per basic share $.34 $.27 $.48 $.36 Weighted average number of diluted shares 9,069 9,254 9,152 9,119 Weighted average number of basic shares 8,737 8,705 8,734 8,675 Consolidated Balance Sheets --------------------------- March 29, 2003 September 28, 2002 -------------- ------------------ (in thousands) Current assets $80,996 $75,367 Property, plant & equipment, net 88,147 94,410 Goodwill, net 45,850 45,850 Other intangibles, net 1,384 1,539 Other assets 2,536 2,870 -------- -------- Total $218,913 $220,036 ======== ======== Current liabilities 40,380 40,244 Deferred income taxes 10,806 10,806 Other long term obligations 243 277 Stockholder's equity 167,484 168,709 -------- -------- Total $218,913 $220,036 ======== ======== 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. CONTACT: J & J Snack Foods Corp. Dennis G. Moore, 856/665-9533 -----END PRIVACY-ENHANCED MESSAGE-----