J&J Snack Foods income climbs 26% in first quarter

by Eric Schroeder
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PENNSAUKEN, N.J. — Net income of J&J Snack Foods Corp. in the first quarter ended Dec. 30 totaled $3,805,000, equal to 21c per share on the common stock, up 26% from $3,010,000, or 16c per share, in the same year-ago period.

Sales in the quarter were $114,142,000, up 5% from $108,571,000 a year ago. Approximately $2,900,000 of the sales increase resulted from the acquisitions of ICEE of Hawaii in January 2006 and Slush Puppie in May 2006. Excluding these sales, sales increased about 2.5%.

"All of our business units contributed to the successful quarter," said Gerald B. Shreiber, president and chief executive officer. "We are hopeful of continuing this performance for this fiscal year and beyond."

Sales to food service customers increased $864,000, or 1%, in the first quarter, to $75,480,000. During the quarter, soft pretzel sales to the food service segment increased $123,000 to $23,831,000.

Bakery product sales fell 2% during the first quarter, to $37,426,000, as the company experienced lower sales to a varied range of private label customers and to school food service accounts.

Earlier this month, J&J Snack Foods acquired the assets of Hom/Ade Foods, Inc., a manufacturer and distributor of biscuits and dumplings sold under the Mary B’s and private label store brands.

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