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 25, 2016

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 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))

1

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS

On April 25, 2016, J & J Snack Foods Corp. issued a press release regarding its earnings for the second quarter of fiscal 2016.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits

Exhibit Number	Description of Document
99.1	Press Release dated April 25, 2016

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 25, 2016

3

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release dated April 25, 2016

EX-99.1

Exhibit 99.1

IMMEDIATE RELEASE	Contact:	Dennis G. Moore
FOR:		Senior Vice President
		Chief Financial Officer
		(856) 532-6603

6000 Central Highway

Pennsauken, NJ 08109

J & J SNACK FOODS

REPORTS SECOND QUARTER SALES

AND EARNINGS

Pennsauken, NJ, April 26, 2016 - - J & J Snack Foods Corp. (NASDAQ-JJSF) today announced sales and earnings for the second quarter ended March 26, 2016.

Sales increased 2% to $229.7 million from $225.0 million in last year’s second quarter. Net earnings increased 6% to $15.6 million in the current quarter from $14.6 million last year. Earnings per diluted share increased 6% to $.83 for the second quarter from $.78 last year. Operating income increased 7% to $23.3 million in the current quarter from $21.8 million in the year ago quarter.

For the six months ended March 26, 2016, sales increased 3% to $452.6 million from $437.8 million in last year’s first half.  Net earnings increased 10% to $28.6 million in the six months from $25.9 million last year. Earnings per diluted share increased 10% to $1.52 from $1.38 last year. Operating income increased 8% to $41.6 million this year from $38.4 million last year.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “Although our overall sales increase was modest, we are encouraged that we were able to improve our earnings during this quarter.” 

J&J Snack Foods Corp. is a leader and innovator in the snack food industry, providing nutritional and affordable branded niche snack foods and beverages to foodservice and retail supermarket outlets.  Manufactured and distributed nationwide, our principal products include SUPERPRETZEL, BAVARIAN BAKERY and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, PHILLY SWIRL, MINUTE MAID* frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, CALIFORNIA CHURROS and TIO PEPE’S churros, PATIO Burritos and other handheld sandwiches, THE FUNNEL CAKE FACTORY funnel cakes, and several cookie brands within COUNTRY HOME BAKERS.  For more information, please visit us at www.jjsnack.com.

*MINUTE MAID is a registered trademark of The Coca-Cola Company

- more-

	J & J SNACK FOODS CORP. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) (in thousands, except per share amounts)
	Three months ended						Six months ended
	March 26,			March 28,			March 26,			March 28,
	2016			2015			2016			2015
Net Sales	$	229,710		$	225,008		$	452,560		$	437,760
Cost of goods sold		160,961			158,058			319,976			309,709
Gross Profit		68,749			66,950			132,584			128,051
Operating expenses
Marketing		20,364			19,986			39,993			39,473
Distribution		17,522			17,633			35,778			35,154
Administrative		7,637			7,462			15,327			14,987
Other general expense		(53	)		64			(153	)		22
Total Operating Expenses		45,470			45,145			90,945			89,636
Operating Income		23,279			21,805			41,639			38,415
Other income (expense)
Investment income		977			1,278			2,137			2,632
Interest expense & other		(31	)		(30	)		(63	)		(54	)
Earnings before income taxes		24,225			23,053			43,713			40,993
Income taxes		8,637			8,416			15,147			15,100
NET EARNINGS	$	15,588		$	14,637		$	28,566		$	25,893
Earnings per diluted share	$	0.83		$	0.78		$	1.52		$	1.38
Weighted average number of diluted shares		18,752			18,821			18,796			18,811
Earnings per basic share	$	0.84		$	0.78		$	1.53		$	1.39
Weighted average number of basic shares		18,637			18,689			18,662			18,679

-2-

J & J SNACK FOODS CORP. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

	March 26,		September 26,
	2016		2015
	(unaudited)
Cash and cash equivalents	$	89,337	$	133,689
Other current assets		214,491		195,129
Property, plant and equipment, net		178,719		172,054
Goodwill		86,442		86,442
Other intangible assets, net		43,162		45,819
Marketable securities held to maturity		96,649		66,660
Marketable securities available for sale		33,586		39,638
Other		2,721		3,504
Total	$	745,107	$	742,935
Current Liabilities	$	95,729	$	97,116
Long-term obligations under capital leases		1,418		1,196
Deferred income taxes		43,672		43,789
Other long-term liabilities		848		915
Stockholders' Equity		603,440		599,919
Total	$	745,107	$	742,935

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.

##

-3-