Earnings, sales soar at J&J Snack

by Eric Schroeder
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PENNSAUKEN, N.J. — Net income at J&J Snack Foods in the fiscal year ended Sept. 27 was $71,814,000, equal to $3.85 per share on the common stock, up 11.5% from $64,381,000, or $3.43 per share, in fiscal 2013. Net sales increased 6% to $919,451,000 from $867,683,000.

For the fourth quarter ended Sept. 27, net income was $22,189,000, or $1.19 per share, up 9% from $20,323,000, or $1.09 per share, in the same period a year ago. Net sales for the fourth quarter increased 7% to $253,494,000 from $237,913,000.

“Once again I am proud to say that all of our business groups contributed to our record quarter and year,” said Gerald B. Shreiber, president and chief executive officer. “We had continued sales growth in the overall soft pretzel category led by newer products such as pretzel rolls and sticks and improved profitability in our retail supermarket business. Our ICEE business continues to grow its managed service revenue posting another double digit sales gain.”

Sales to food service customers increased $31,139,000, or 6%, in fiscal 2014 to $591,898,000. Excluding sales resulting from the acquisition of New York Pretzel in October 2013, food service sales increased approximately 5% for the year.

Soft pretzel sales to the food service market increased 14% to $164,680,000 in fiscal 2014 aided by increased sales to restaurant chains, warehouse club stores, school food service and throughout J&J Snack’s customer base. The company said increased sales to one customer accounted for approximately one-fourth of the increase in pretzel sales in the year. Without New York Pretzel, pretzel sales increased about 11% for the year.

Frozen juices and ices sales increased 10% to $53,888,000 in the year as a result of higher sales to warehouse club stores, school food service accounts and throughout the company’s customer base.

Bakery product sales increased $6,773,000, or 2%, during the year as sales increases and decreases were spread throughout the company’s customer base.

Churro sales to food service customers were essentially unchanged in the year at $55,929,000.
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