-----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, FU/DKlIAH1eigdpbmPn/lu4ObFtgHpq3cMxr8jERlt/rlMDprz7/dwnvKmUJKVQb SUCO5/pE6Ca686Q6+wRYNg== 0001157523-07-004151.txt : 20070426 0001157523-07-004151.hdr.sgml : 20070426 20070426162900 ACCESSION NUMBER: 0001157523-07-004151 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070426 DATE AS OF CHANGE: 20070426 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: 07791728 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 a5388052.txt J&J SNACK FOODS CORP. 8K 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 26, 2007 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) Check the appropriate box below if the Form 8-K filing is intended to simultaneouusly satisfy the filing obligation of the registrant under any of the following provisions: [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS On April 26, 2007, J & J Snack Foods Corp. issued a press release regarding its earnings for the second quarter of fiscal 2007. ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibits Exhibit Number Description of Document - -------------- ----------------------- 99.1 Press Release dated April 26, 2007 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 26, 2007 EXHIBIT INDEX Exhibit Number Description - -------------- ----------- 99.1 Press Release dated April 26, 2007 EX-99.1 2 a5388052ex991.txt EXHIBIT 99.1 Exhibit 99.1 Profits Increase as J & J Snack Foods Corp. Announces Record Quarter PENNSAUKEN, N.J.--(BUSINESS WIRE)--April 26, 2007--J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings for its second quarter and six months ended March 31, 2007. Sales for the second quarter increased 16% to $130.0 million from $112.0 million in last year's second quarter. Net earnings increased 29% to $5.3 million from $4.1 million last year. Earnings per diluted share were $.28 for the March quarter compared to $.22 last year. Operating income increased 37% to $8.2 million this year from $6.0 million in the year ago period. For the six months ended March 31, 2007, sales increased 11% to $244.2 million from $220.6 million in last year's first half. Net earnings increased 28% to $9.1 million in the six months from $7.1 million last year. Earnings per diluted share were $.48 for the six months compared to $.38 last year. Operating income increased 31% to $13.3 million from $10.2 million in the year ago period. Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "We benefited from the successful integration of the Hom/Ade Foods (a producer of frozen biscuits and dumplings selling under the MARY B'S brand) and the DADDY RAY (a producer of fig and fruit bars selling under the DADDY RAY'S brand) acquisitions completed during the quarter, as well as continued progress and gains in our core businesses." J & J Snack Foods Corp.'s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC BLAST frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE UPS, MINUTE MAID* and BARQ'S** and CHILL*** frozen juice bars and ices, WHOLE FRUIT sorbet, FRUIT-A-FREEZE frozen fruit bars, MARY B'S biscuits and dumplings, DADDY RAY'S fig and fruit bars, 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, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida and Vernon and Newport, California. *MINUTE MAID is a registered trademark of The Coca-Cola Company. **BARQ'S is a registered trademark of Barq's Inc. ***CHILL is a registered trademark of Wells Dairy, Inc. Consolidated Statement of Operations ------------------------------------------ Three Months Ended Six Months Ended -------------------- -------------------- March 31, March 25, March 31, March 25, 2007 2006 2007 2006 --------- --------- --------- --------- (in thousands) Net sales $ 130,040 $ 112,044 $ 244,182 $ 220,615 Cost of goods sold 87,633 76,818 166,527 152,272 --------- --------- --------- --------- Gross profit 42,407 35,226 77,655 68,343 Operating expenses 34,212 29,232 64,325 58,152 --------- --------- --------- --------- Operating income 8,195 5,994 13,330 10,191 Other income 507 725 1,463 1,399 --------- --------- --------- --------- Earnings before income taxes 8,702 6,719 14,793 11,590 Income taxes 3,369 2,582 5,655 4,443 --------- --------- --------- --------- Net earnings $ 5,333 $ 4,137 $ 9,138 $ 7,147 ========= ========= ========= ========= Earnings per diluted share $ .28 $ .22 $ .48 $ .38 Earnings per basic share $ .29 $ .23 $ .49 $ .39 Weighted average number of diluted shares 19,014 18,811 18,954 18,754 Weighted average number of basic shares 18,601 18,383 18,570 18,356 Consolidated Balance Sheets ------------------------------- March 31, September 2007 30, 2006 --------- --------- (in thousands) Current assets $ 137,470 $ 172,244 Property, plant & equipment, net 91,837 85,447 Goodwill, net 59,271 57,948 Other intangibles, net 57,654 22,669 Other assets 2,735 2,500 --------- --------- Total $ 348,967 $ 340,808 ========= ========= Current liabilities 59,025 59,089 Deferred income taxes 18,211 18,211 Other long term obligations 553 635 Stockholders' equity 271,178 262,873 --------- --------- Total $ 348,967 $ 340,808 ========= ========= 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, x 268 -----END PRIVACY-ENHANCED MESSAGE-----