J+J Snack Foods: Reports Q2/2016 Sales And Earnings

Pennsauken / NJ. (jj) J+J Snack Foods Corporation, a leading niche snack food and beverage company, announced sales and earnings for the second quarter ended March 26, 2016. Sales increased 2 percent to 229.7 million USD from 225.0 million USD in last year’s second quarter. Net earnings increased 6 percent to 15.6 million USD in the current quarter from 14.6 million USD last year. Earnings per diluted share increased 6 percent to 0.83 USD for the second quarter from 0.78 USD last year. Operating income increased 7 percent to 23.3 million USD in the current quarter from 21.8 million USD in the year ago quarter. For the six months ended March 26, 2016, sales increased 3 percent to 452.6 million USD from 437.8 million USD in last year’s first half. Net earnings increased 10 percent to 28.6 million USD in the six months from 25.9 million USD last year. Earnings per diluted share increased 10 percent to 1.52 USD from 1.38 USD last year. Operating income increased 8 percent to 41.6 million USD this year from 38.4 million USD last year. Gerald B. Shreiber, J+J’s President and Chief Executive Officer, commented, «Although our overall sales increase was modest, we are encouraged that we were able to improve our earnings during this quarter».

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