J+J Snack Foods: Reports Q2/2011 Sales and Earnings

Pennsauken / NJ. (jj) J+J Snack Foods Corporation announced record sales and lower earnings for its second quarter and six months ended March 26, 2011. Sales increased three percent to 162,7 million USD from 157,4 million USD in last year´s second quarter. Net earnings decreased four percent to 8,7 million USD from 9,0 million USD last year. Earnings per diluted share were 0,46 USD for the March quarter compared to 0,48 USD last year. Operating income decreased six percent to 14,0 million USD this year from 14,8 million USD in the year ago period. For the six months ended March 26, 2011, sales increased four percent to 318,4 million USD from 306,5 million USD in last year´s first half. Net earnings decreased two percent to 15,8 million USD in the six months from 16,1 million USD last year. Earnings per diluted share were 0,84 USD for the six months compared to 0,86 USD last year. Operating income decreased five percent to 24,9 million USD from 26,3 million USD in the year ago period. Gerald B. Shreiber, J+J´s President and Chief Executive Officer: «Although our overall sales grew modestly, higher input costs and operating expenses impacted our profitability for the period and the six months».