J&J Snack Foods Corp. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended June 25, 2016; Provides Tax Rate Guidance for 2016
July 25, 2016 at 04:00 pm EDT
Share
J&J Snack Foods Corp. reported unaudited consolidated earnings results for the third quarter and nine months ended June 25, 2016. For the quarter, the company reported net sales of USD 277.981 million compared to USD 278.724 million a year ago and decreased about 0.25%. Operating income was USD 40.437 million compared to USD 38.811 million a year ago. Earnings before income taxes was USD 41.387 million compared to USD 38.724 million a year ago. Net earnings were USD 26.791 million compared to USD 24.462 million a year ago. Earnings per diluted share were USD 1.43 compared to USD 1.30 a year ago.
For the nine months, the company reported net sales of USD 730.541 million compared to USD 716.484 million and increased 2% a year ago. Operating income was USD 82.076 million compared to USD 77.226 million a year ago. Earnings before income taxes was USD 85.100 million compared to USD 79.717 million a year ago. Net earnings were USD 55.357 million compared to USD 50.355 million a year ago. Earnings per diluted share were USD 2.95 compared to USD 2.68 a year ago an increase of 10%. Net cash provided by operating activities was USD 71.348 million compared to USD 66.552 million a year ago. Purchases of property, plant and equipment was USD 37.221 million compared to USD 34.180 million a year ago. Purchases of marketable securities was USD 41.786 million compared to USD 16.126 million a year ago.
The company is estimating a range of about 35.25% to 35.5% in fiscal year 2016.
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 Third Quarter and Nine Months Ended June 25, 2016; Provides Tax Rate Guidance for 2016
J&J SNACK FOODS CORP. 
