J&J Snack net rises 20% in quarter; sales up 16%

by Eric Schroeder
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PENNSAUKEN, N.J. — Net income of J&J Snack Foods Corp. in the second quarter ended March 24 totaled $10,423,000, equal to 55c per share on the common stock, up 20% from $8,659,000, or 46c per share, in the same period of fiscal 2011.

Sales for the second quarter of fiscal 2012 were $189,554,000, up 16% from $162,731,000.

“We are pleased with our overall results for the period and are hopeful the trend continues,” said Gerald B. Shreiber, president and chief executive officer. “Our food service and ICEE beverage groups had a good quarter.”

Sales to food service customers increased $16,511,000, or 15%, in the second quarter, to $124,324,000. Soft pretzel sales to the food service segment increased 8% to $27,396,000, while frozen juices and ices sales rose 4% to $19,426,000.

Bakery product sales, excluding biscuit and dumpling sales and fruit and fig bars, increased $7,447,000, or 13%, as sales increases and decreases were spread throughout the customer base.

Frozen beverage and related product sales increased 11% to $41,796,000, with beverage sales accounting for $26,396,000 of that total.

For the six months ended March 24, net income was $15,908,000, or 84c per share, up narrowly from $15,753,000, or 85c per share, in the same period a year ago. Net sales rose 14% to $362,240,000 from $318,363,000.

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