J&J Snack income falls 25% in Q2

by Eric Schroeder
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PENNSAUKEN, N.J. — Net income of J&J Snack Foods Corp. in the second quarter ended March 29 totaled $3,998,000, equal to 21c per share on the common stock, down 25% from $5,333,000, or 29c per share, in the same year-ago period.

Sales in the quarter were $144,229,000, up 11% from $130,040,000 a year ago.

"Although our overall sales increased, we continue to be impacted by escalating input costs, particularly commodities such as flour and dairy products," said Gerald B. Shreiber, president and chief executive officer.

Sales to food service customers increased $10,163,000, or 12%, in the second quarter, to $94,883,000. During the quarter, soft pretzel sales to the food service segment increased 4% to $25,065,000.

Bakery product sales, excluding Hom/Ade and Daddy Ray’s, increased $5,051,000, or 16%, driven by higher sales to private label customers.

Frozen beverage and related product sales increased 9% to $35,952,000, with beverage sales accounting for $21,618,000 of that total.

For the six months ended March 29 net income totaled $5,895,000, or 31c per share, down from $9,138,000, or 49c per share in the first half of fiscal 2007. Net sales totaled $275,127,000, up 13% from $244,182,000 in the same period a year ago.

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