-----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, M1X6jtacl/chSd4kAfiYrV+1S709eliuXwrGHZNyfX03SacKgoF3FCLH6fBCCcWb h4cmzMJ0K/0SAosEvSj5Gw== 0001157523-04-003771.txt : 20040426 0001157523-04-003771.hdr.sgml : 20040426 20040426110117 ACCESSION NUMBER: 0001157523-04-003771 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040420 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040426 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: 04753070 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 a4624736.txt J&J SNACK 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 20, 2004 ---------------------------------------------------------------- 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 of Organization) File Number) Identification No.) 6000 Central Highway, Pennsauken, NJ 08109 ------------------------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (856) 665-9533 ------------------------------------------------------------------ N/A ---- (Former name or former address, if changed since last report) 1 ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE On April 20, 2004, J & J Snack Foods Corp. issued a press release regarding sales and earnings for the second quarter and six months ended March 27, 2004. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Exhibit Number Description of Document 99.1 Press Release dated April 20, 2004 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 20, 2004 3 EXHIBIT INDEX Exhibit Number Description 99.1 Press Release dated April 20, 2004 4 EX-99.1 2 a4624736ex99.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 Profits Increase as J & J Snack Foods Corp. Announces Record Quarter PENNSAUKEN, N.J.--(BUSINESS WIRE)--April 20, 2004--J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings for its second quarter and six months ended March 27, 2004. Sales for the second quarter increased 17% to $95.2 million from $81.4 million in last year's second quarter. Net earnings increased 11% to $3.3 million from $3.0 million last year. Earnings per diluted share were $.36 for the March quarter compared to $.33 last year. Operating income increased 11% to $5.1 million this year from $4.6 million in the year ago period. For the six months ended March 27, 2004, sales increased 10% to $175.2 million from $158.7 million in last year's first half. Net earnings increased 23% to $5.2 million in the six months from $4.2 million last year. Earnings per diluted share were $.57 for the six months compared to $.46 last year. Operating income increased 23% to $7.9 million from $6.4 million in the year ago period. The results of operations for the second quarter and six months ended March 27, 2004 include Country Home Bakers, Inc. which was acquired on January 5, 2004. Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "We are pleased with our financial performance for the quarter and six month period. Excluding our retail restaurant group, all of our businesses, including the recently acquired Country Home Bakers, contributed to our record setting quarter." J & J Snack Foods Corp.'s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE and ARCTIC BLAST frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE UPS, MINUTE MAID(1) and BARQ'S(2)and CHILL frozen juice bars and ices, TIO PEPE'S churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas, Atlanta, Georgia and Vernon (Los Angeles), California. (1)MINUTE MAID is a registered trademark of The Coca-Cola Company. (2)BARQ'S is a registered trademark of Barq's Inc. Consolidated Statement of Operations -------------------------------------- Three Months Ended Six Months Ended ------------------ ---------------- March 27, March 29, March 27, March 29, 2004 2003 2004 2003 ------- ------- -------- -------- (in thousands) Net sales $95,214 $81,408 $175,159 $158,652 Cost of goods sold 64,468 54,532 119,775 109,711 ------- ------- -------- -------- Gross profit 30,746 26,876 55,384 48,941 Operating expenses 25,623 22,253 47,482 42,508 ======= ======= ======== ======== Operating income 5,123 4,623 7,902 6,433 Other income 84 66 172 132 ------- ------- -------- -------- Earnings before income taxes 5,207 4,689 8,074 6,565 Income taxes 1,865 1,688 2,907 2,363 ------- ------- -------- ------- Net earnings $ 3,342 $ 3,001 $ 5,167 $ 4,202 ======= ======= ======== ======= Earnings per diluted share $ .36 $ .33 $.57 $.46 Earnings per basic share $ .38 $ .34 $.58 $.48 Weighted average number of diluted shares 9,170 9,069 9,105 9,152 Weighted average number of basic shares 8,877 8,737 8,834 8,734 Consolidated Balance Sheets ----------------------------- March 27, 2004 September 27, 2003 ---------------- -------------------- (in thousands) Current assets $107,026 $100,405 Property, plant & equipment, net 88,864 87,115 Goodwill, net 46,477 45,850 Other intangibles, net 2,656 1,231 Other assets 1,577 2,082 -------- -------- Total $246,600 $236,683 ======== ======== Current liabilities 42,579 40,058 Deferred income taxes 13,374 13,374 Other long term obligations 598 687 Stockholders' equity 190,049 182,564 -------- -------- Total $246,600 $236,683 ======== ======== 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 Moore, CFO, 856-665-9533 -----END PRIVACY-ENHANCED MESSAGE-----