-----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, DHcLZxvYJ/3TocLViFu3hrRLhYtJDsuqcw6qojxild6DKCabK6kOMqY+9b2xSpFL Zj3wC6kCWUPSprN+bB97sg== 0001157523-09-005110.txt : 20090724 0001157523-09-005110.hdr.sgml : 20090724 20090724092340 ACCESSION NUMBER: 0001157523-09-005110 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090723 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090724 DATE AS OF CHANGE: 20090724 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: 09960772 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 a6014309.htm 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): July 23, 2009

J & J SNACK FOODS CORP.

(Exact name of registrant as specified in its charter)

 

New Jersey

0-14616

22-1935537

(State or Other

Jurisdiction of Organization)

(Commission

File Number)

(I.R.S. Employer

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 simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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))

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ITEM 2.02.     RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS.

On July 23, 2009,  J & J Snack Foods Corp. issued a press release regarding its earnings for the third quarter of fiscal 2009.



ITEM 9.01.     FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits
 
Exhibit Number Description of Document
 
99.1 Press Release dated July 23, 2009

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:

July 23, 2009

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EXHIBIT INDEX

Exhibit Number

Description
 
99.1

Press Release dated July 23, 2009

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EX-99.1 2 a6014309ex99_1.htm EXHIBIT 99.1

Exhibit 99.1

J & J Snack Foods Announces Record Sales and Earnings

PENNSAUKEN, N.J.--(BUSINESS WIRE)--July 23, 2009--J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings for its third quarter and nine months ended June 27, 2009.

Sales for the third quarter increased 2% to $179.8 million from $176.8 million in last year's third quarter. Net earnings increased 38% 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% to $24.4 million this year from $17.5 million in the year ago period.

For the nine months ended June 27, 2009, sales increased 4% to $470.3 million from $452.0 million in last year's nine months. Net earnings increased 58% 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% to $43.1 million from $25.5 million in the year ago period.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented; “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.”

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** 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.


 
 

Unaudited Consolidated Statement of Operations

Three Months Ended

 

Nine Months Ended

June 27,   June 28, June 27,   June 28,

2009

2008

2009

2008

(in thousands)
Net sales $ 179,761 $ 176,839 $ 470,255 $ 451,966
Cost of goods sold   118,727   121,087   323,162   320,427
Gross profit 61,034 55,752 147,093 131,539
Operating expenses   36,654   38,298   104,002   106,069
Operating income 24,380 17,454 43,091 25,470
Other income   263   532   965   1,969

Earnings before income taxes

24,643 17,986 44,056 27,439
Income taxes   9,714   7,166   17,564   10,724
Net earnings $ 14,929 $ 10,820 $ 26,492 $ 16,715
 
Earnings per diluted share $ .80 $ .57 $ 1.42 $ .88
Earnings per basic share $ .81 $ .58 $ 1.43 $ .89

Weighted average number of diluted shares

18,698 18,981 18,697 19,013

Weighted average number of basic shares

18,480 18,762 18,507 18,772
 
 
 

Consolidated Balance Sheets

June 27, 2009  

September 27, 2008

(Unaudited)

(in thousands)
Cash & cash equivalents $ 59,116 $ 44,265
Current marketable securities held to maturity 22,047 2,470
Current auction market preferred stock - 14,000
Other current assets 118,167 116,465
Property, plant & equipment, net 93,521 93,064
Goodwill 60,314 60,314
Other intangible assets, net 50,252 53,633
Long-term auction market preferred stock - 21,200
Long-term marketable securities held to maturity 20,402 -
Other   2,342   2,997
Total $ 426,161 $ 408,408
 
Current liabilities 73,977 66,194
Long-term obligations under capital leases 309 381
Deferred income taxes 23,056 23,056
Other long-term obligations 1,999 1,999
Stockholders’ equity   326,820   316,778
Total $ 426,161 $ 408,408
 

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
Senior Vice President
Chief Financial Officer
856-532-6603

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