Strong ICEE sales drive profit at J&J Snack
July 26, 2011
PENNSAUKEN, N.J. — Net income of J&J Snack Foods Corp. in the third quarter ended June 25 totaled $23,326,000, equal to $1.25 per share on the common stock, up 47% from $15,861,000, or 86c per share, in the same period a year ago. Sales in the quarter were $206,328,000, up 9% from $189,729,000.
Sales to food service customers increased $8,740,000, or 8%, in the third quarter, to $121,379,000. Soft pretzel sales to the food service segment increased 5% to $26,686,000, while frozen juices and ices sales rose 8% to $17,176,000.
Bakery product sales, excluding biscuit and dumpling sales and fruit and fig bars, increased $1,485,000, or 4%, driven by higher sales to private label customers. Biscuit and dumpling sales also rose, climbing 7% to $7,119,000. Sales of fruit and fig bars fell 11% during the quarter to $7,619,000.
Frozen beverage and related product sales increased 7% to $57,109,000, with beverage sales accounting for $41,260,000 of that total.
“While all of our businesses contributed to the quarter’s success, a particularly strong performance by our ICEE group highlighted the quarter,” said Gerald B. Shreiber, president and chief executive officer.
For the nine months ended June 25, net income was $39,079,000, or $2.10 per share, up from $31,952,000, or $1.73 per share, in the same period of fiscal 2010. Net sales rose 6% to $524,691,000 from $496,192,000.