J+J Snack Foods: releases second quarter results

Pennsauken / NJ. (jj) J+J Snack Foods Corporation has announced record sales and increased earnings for its second quarter and six months ended March 27. In a statement the Company noted that sales increased five percent to 157,4 million USD from 149,4 million USD in last year´s second quarter. Net earnings increased 24 percent to 9,0 million USD from 7,2 million USD last year. Earnings per diluted share were 0,48 USD for the March quarter compared to 0,39 USD last year. Operating income increased 25 percent to 14,9 million USD this year from 11,9 million USD in the year ago period. For the six months ended March 27, sales increased five percent to 306,5 million USD from 290,5 million USD in last year´s first half. Net earnings increased 39 percent to 16,1 million USD in the six months from 11,6 million USD last year. Earnings per diluted share were 0,86 USD for the six months compared to 0,62 USD last year. Operating income increased 41 percent to 26,3 million USD from 18,7 million USD in the year ago period. Gerald B. Shreiber, J+J´s President and Chief Executive Officer: «Strong performances by our food service and retail supermarket groups contributed to our record quarter. Our management team continues to strengthen and our innovation efforts are being increased. Despite current challenges in the economy, we are optimistic for the future».