J&J Snacks reports 20 percent jump in 2Q profit

J&J Snacks reports 20 percent jump in fiscal second-quarter net income

Associated Press

NEW YORK (AP) -- J&J Snack Foods Corp. said Monday that its net income rose 20 percent on the strength of its foodservice unit and Icee-branded drinks.

The company, which is based in Pennsauken, N.J., said it earned earned $10.4 million, or 55 cents per share, for the three months that ended March 24. That's compared with $8.7 million, or 46 cents per share, a year earlier.

Its shares were unchanged after hours. They closed at $48.95, down $1.51, or 3 percent, as the broader market slipped.

J&J Snack Foods' retail products include SuperPretzel, Pretzel Fillers, Luigi's Italian Ice and Icee and Slush Puppie frozen drinks, among others. The company also supplies foodservice providers such as snack bars, malls, movie theaters and colleges.

The company said its revenue rose 16 percent to $189.6 million from $162.7 million.

Its operating income rose to $16.3 million from $14 million a year ago as its operating expenses rose to $37.7 million from $35.1 million.

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