New Jersey
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0-14616
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22-1935537
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(State or Other
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(Commission
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(I.R.S. Employer
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Jurisdiction of Organization)
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File Number)
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Identification No.)
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Exhibit Number
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Description of Document
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99.1
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Press Release dated July 23, 2012
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J & J SNACK FOODS CORP. | |||
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By:
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/s/ Gerald B. Shreiber | |
Gerald B. Shreiber | |||
President | |||
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By:
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/s/ Dennis G. Moore | |
Dennis G. Moore | |||
Chief Financial Officer | |||
Exhibit Number
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Description of Document
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99.1
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Press Release dated July 23, 2012
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Exhibit 99.1 | ||
IMMEDIATE RELEASE | Contact: | Dennis G. Moore |
FOR: | Senior Vice President | |
Chief Financial Officer |
6000 Central Highway
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(856) 532-6603 | |
Pennsauken, NJ 08109
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Consolidated Statement of Operations
(unaudited)
(in thousands, except per share amounts)
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||||||||||||||||
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Three months ended
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Nine months ended
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||||||||||||||
June 23,
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June 25,
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June 23,
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June 25,
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|||||||||||||
2012
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2011
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2012
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2011
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|||||||||||||
Net Sales
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$ | 226,335 | $ | 206,328 | $ | 588,575 | $ | 524,691 | ||||||||
Cost of goods sold
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153,828 | 138,787 | 415,675 | 362,027 | ||||||||||||
Gross Profit
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72,507 | 67,541 | 172,900 | 162,664 | ||||||||||||
Operating expenses
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||||||||||||||||
Marketing
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19,892 | 18,462 | 54,955 | 51,404 | ||||||||||||
Distribution
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16,034 | 15,133 | 44,465 | 40,805 | ||||||||||||
Administrative
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6,873 | 6,355 | 19,158 | 17,890 | ||||||||||||
Other general (income) expense
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(183 | ) | 530 | (305 | ) | 577 | ||||||||||
42,616 | 40,480 | 118,273 | 110,676 | |||||||||||||
Operating Income
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29,891 | 27,061 | 54,627 | 51,988 | ||||||||||||
Other income (expense)
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||||||||||||||||
Gain on bargain purchase of
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||||||||||||||||
a business
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- | 6,580 | - | 6,580 | ||||||||||||
Investment income
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397 | 251 | 1,132 | 694 | ||||||||||||
Interest expense & other
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11 | (34 | ) | (32 | ) | (106 | ) | |||||||||
Earnings before
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||||||||||||||||
income taxes
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30,299 | 33,858 | 55,727 | 59,156 | ||||||||||||
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||||||||||||||||
Income taxes
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11,627 | 10,532 | 21,147 | 20,077 | ||||||||||||
NET EARNINGS
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$ | 18,672 | $ | 23,326 | $ | 34,580 | $ | 39,079 | ||||||||
Earnings per diluted share
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$ | 0.99 | $ | 1.24 | $ | 1.83 | $ | 2.08 | ||||||||
Weighted average number
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||||||||||||||||
of diluted shares
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18,947 | 18,829 | 18,917 | 18,766 | ||||||||||||
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||||||||||||||||
Earnings per basic share
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$ | 0.99 | $ | 1.25 | $ | 1.83 | $ | 2.10 | ||||||||
Weighted average number of
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||||||||||||||||
basic shares
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18,886 | 18,700 | 18,850 | 18,639 |
Consolidated Balance Sheets
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||||||||
June 23, 2012
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September 24, 2011
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|||||||
(unaudited) | ||||||||
(in thousands) | ||||||||
Cash & cash equivalents
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$ | 109,481 | $ | 87,479 | ||||
Current marketable securities held to maturity
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15,454 | 25,506 | ||||||
Other current assets
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163,689 | 146,865 | ||||||
Property, plant & equipment, net
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135,615 | 124,650 | ||||||
Goodwill
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76,899 | 70,070 | ||||||
Other intangible assets, net
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49,586 | 52,005 | ||||||
Marketable securities held to maturity
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39,479 | 42,000 | ||||||
Other
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3,256 | 2,241 | ||||||
Total
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$ | 593,459 | $ | 550,816 | ||||
Current liabilities
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$ | 87,519 | $ | 75,848 | ||||
Long-term obligations under capital leases
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301 | 523 | ||||||
Deferred income taxes
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41,024 | 41,050 | ||||||
Other long-term obligations
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928 | 1,007 | ||||||
Stockholders’ equity
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463,687 | 432,388 | ||||||
Total
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$ | 593,459 | $ | 550,816 |