SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 25, 2007
------------------------------------------------------------------
J & J SNACK FOODS CORP.
-----------------------
(Exact name of registrant as specified in its charter)
New Jersey 0-14616 22-1935537
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of Organization) File Number) Identification No.)
6000 Central Highway, Pennsauken, NJ 08109
------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (856) 665-9533
N/A
---
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneouusly satisfy the filing obligation of the registrant under any of the
following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2 (b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITIONS
On January 25, 2007, J & J Snack Foods Corp. issued a press release regarding
its earnings for the first quarter of fiscal 2007.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit Number Description of Document
- -------------- -----------------------
99.1 Press Release dated January 25, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J & J SNACK FOODS CORP.
By: /s/ Gerald B. Shreiber
------------------------------
Gerald B. Shreiber
President
/s/ Dennis G. Moore
------------------------------
Dennis G. Moore
Chief Financial Officer
Date: January 25, 2007
EXHIBIT INDEX
Exhibit Number Description
- -------------- -----------
99.1 Press Release dated January 25, 2007
Exhibit 99.1
J & J Snack Foods Reports Record
First Quarter Sales And 26% Increase in Earnings
PENNSAUKEN, N.J.--(BUSINESS WIRE)--Jan. 25, 2007--J & J Snack
Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings
for the first quarter ended December 30, 2006.
Sales increased 5% to $114.1 million from $108.6 million in last
year's first quarter. Net earnings increased 26% to $3.8 million in
the current quarter from $3.0 million last year. Earnings per diluted
share were $.20 for the first quarter compared to $.16 last year.
Operating income increased 22% to $5.1 million in the current quarter
from $4.2 million in the year ago quarter.
Gerald B. Shreiber, J & J's President and Chief Executive Officer,
commented, "All of our business units contributed to the successful
quarter. We are hopeful of continuing this performance for this fiscal
year and beyond."
J & J Snack Foods Corp.'s principal products include SUPERPRETZEL,
PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC
BLAST frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE UPS, MINUTE MAID*
and BARQ'S** and CHILL*** frozen juice bars and ices, TIO PEPE'S
churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE,
CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has
manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New
Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton,
Texas; Atlanta, Georgia and Vernon, (Los Angeles) California.
*MINUTE MAID is a registered trademark of The Coca-Cola Company.
**BARQ'S is a registered trademark of Barq's Inc.
***CHILL is a registered trademark of Wells Dairy, Inc.
Consolidated Statement of Operations
--------------------------------------
Three Months Ended
--------------------------------------
December 30, December 24,
2006 2005
------------------ ------------------
(unaudited)
(in thousands)
Net sales $ 114,142 $ 108,571
Cost of goods sold 78,894 75,454
------------------ ------------------
Gross profit 35,248 33,117
Operating expenses 30,113 28,920
------------------ ------------------
Operating income 5,135 4,197
Other income 956 674
------------------ ------------------
Earnings before income taxes 6,091 4,871
Income taxes 2,286 1,861
------------------ ------------------
Net earnings $ 3,805 $ 3,010
================== ==================
Earnings per diluted share $ .20 $ .16
Earnings per basic share $ .21 $ .16
Weighted average number of
diluted shares 18,895 18,697
Weighted average number of
basic shares 18,539 18,328
Consolidated Balance Sheets
--------------------------------------
December 30, 2006 September 30, 2006
------------------ ------------------
(unaudited)
(in thousands)
Current assets $ 166,843 $ 172,244
Property, plant & equipment,
net 85,619 85,447
Goodwill 57,948 57,948
Other intangibles, net 22,191 22,669
Other assets 5,485 2,500
------------------ ------------------
Total $ 338,086 $ 340,808
================== ==================
Current liabilities $ 53,024 $ 59,089
Deferred income taxes 18,211 18,211
Other long term obligations 614 635
Stockholders' equity 266,237 262,873
------------------ ------------------
Total $ 338,086 $ 340,808
================== ==================
The forward-looking statements contained herein are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected in the forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's analysis only
as of the date hereof. The Company undertakes no obligation to
publicly revise or update these forward-looking statements to reflect
events or circumstances that arise after the date hereof.
CONTACT: J & J Snack Foods Corp.
Dennis G. Moore, 856-665-9533, x 268