Higher costs weigh on J&J Snack Foods income

by Staff
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PENNSAUKEN, N.J. — Income for J&J Snack Foods was down 4% during the second quarter on higher input costs and operating expenses.

For the quarter ended March 26, the company had earnings of $8,659,000, equal to 46c per share on the common stock, which compared with income of $9,000,000, or 49c per share, during the same quarter of the previous year. Sales for the quarter were $162,731,000, up 3% from $157,361,000 during the same quarter of the previous year.

“Although our overall sales grew modestly, higher input costs and operating expenses impacted our profitability for the period and the six months,” said Gerald B. Shreiber, president and chief executive officer.

For the six months ended March 26 the company had earnings of $15,753,000, or 85c per share, down 2% from $16,091,000, or 87c per share, during the same period of the previous year. Sales for the six months were $318,363,000, up 4% from $306,463,000 during the same period of the previous year.

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