J & J Snack Foods Reports First Quarter Sales, Earnings

Jan. 27, 2015

PENNSAUKEN, N.J., Jan. 26, 2015 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (Nasdaq:JJSF) today announced sales and earnings for the first quarter ended December 27, 2014.

Sales increased 5% to $212.8 million from $203.5 million in last year's first quarter. Net earnings decreased 9% to $11.3 million in the current quarter from $12.4 million last year. Earnings per diluted share decreased 9% to $.60 for the first quarter from $.66 last year. Operating income decreased 8% to $16.6 million in the current quarter from $18.0 million in the year ago quarter.

Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented, "In addition to the seasonal loss of our PHILLY SWIRL business which was acquired in May 2014, our operating income was impacted by higher operating expenses of our ICEE frozen beverage business during its seasonally low period and soft volume and higher costs in our food service business." Full report