J&J Snack Foods Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 30, 2017; Provides Tax Rate Guidance for the Fiscal 2018 and 2019
January 29, 2018 at 04:00 pm EST
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J&J Snack Foods Corp. reports unaudited consolidated earnings results for the first quarter ended December 30, 2017. For the quarter, net sales were $265,210,000 against $225,570,000 a year ago. Operating income was $21,228,000 against $19,327,000 a year ago. Earnings before income taxes were $23,226,000 against $20,528,000 a year ago. Net earnings were $36,249,000 against $13,540,000 a year ago. Earnings per diluted share were $1.93 against $0.72 per basic and diluted share a year ago. Net cash provided by operating activities was $26,107,000 against $26,400,000 a year ago. Purchases of property, plant and equipment was $14,623,000 against $11,399,000 a year ago.
The company is presently estimating an effective tax rate of 28%-29% for the last three quarters of fiscal year 2018 and 26-27% for fiscal year 2019.
J & J Snack Foods Corp. manufactures snack foods and distributes frozen beverages which it markets nationally to the foodservice and retail supermarket industries. The Company operates through three segments: Food Service, Retail Supermarkets and Frozen Beverages. The primary products sold by the Food Service segment are soft pretzels, frozen novelties, churros, handheld products and baked goods. The primary products sold to the retail supermarket channel are soft pretzel products including SUPERPRETZEL and AUNTIE ANNEâS, frozen novelties including LUIGIâS Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS ice cream style treats for dogs, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and handheld products. This segment also offers Thinsters. The Company sells Frozen Beverages to the foodservice industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada.
J&J Snack Foods Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 30, 2017; Provides Tax Rate Guidance for the Fiscal 2018 and 2019
J&J SNACK FOODS CORP. 
