Pennsauken / NJ. (jj) J+J Snack Foods Corporation announced sales and earnings for its third quarter and nine months ended June 23, 2012. Sales for the third quarter increased ten percent to 226,3 million USD from 206,3 million USD in last year´s third quarter. For the nine months ended June 23, 2012, sales increased twelve percent to 588,6 million USD from 524,7 million USD in the last year´s nine months. Last year´s net earnings for the third quarter and the nine months included a 6,6 million USD gain on bargain purchase of a business.
Without the benefit of this one time gain last year, net earnings increased twelve percent to 18,7 million USD (0,99 USD per diluted share) in this year´s quarter compared to 16,7 million USD (0,89 USD per diluted share) last year and for the nine months, earnings increased six percent to 34,6 million USD (1,83 USD per diluted share) from 32,5 million USD (1,73 USD per diluted share) last year.
Last year´s reported net earnings, which included the 6,6 million USD gain, were 23,3 million USD (1,24 USD per diluted share) for the quarter and 39,1 million USD (2,08 USD per diluted share) for the nine months. Operating income increased ten percent to 29,9 million USD this year from 27,1 million USD in the year ago period for the quarter. For the nine months, operating income increased five percent to 54,6 million USD from 52,0 million USD in the year ago period.
Gerald B. Shreiber, J+J´s President and Chief Executive Officer: «All of our business groups contributed to our results for the period. During the quarter, we completed the expansion of our Moscow Mills, MO and Carrollton, TX facilities. We continue to make progress expanding our soft pretzel products, including rolls and Bavarian sticks into new venues».
