J & J Snack Foods Corporation (JJSF) has reported a 3.98 percent rise in profit for the quarter ended Sep. 24, 2016. The company has earned $20.62 million, or $1.10 a share in the quarter, compared with $19.83 million, or $1.05 a share for the same period last year.
Revenue during the quarter went up marginally by 0.95 percent to $262.24 million from $259.77 million in the previous year period. Gross margin for the quarter contracted 131 basis points over the previous year period to 30.43 percent. Total expenses were 88.28 percent of quarterly revenues, up from 87.04 percent for the same period last year. That has resulted in a contraction of 124 basis points in operating margin to 11.72 percent.
Operating income for the quarter was $30.73 million, compared with $33.66 million in the previous year period.
Gerald B. Shreiber, J & J’s president and chief executive officer, commented, “While our frozen beverage and retail supermarket businesses performed well in the quarter, sales and operating income in our food service segment were down in the quarter. We have made changes in our operations management to address certain manufacturing issues, including higher costs, that impacted the quarter.”
Operating cash flow improves
J & J Snack Foods Corporation has generated cash of $121.22 million from operating activities during the year, up 16.65 percent or $17.30 million, when compared with the last year.
The company has spent $74.60 million cash to meet investing activities during the year as against cash outgo of $28.49 million in the last year.
The company has spent $37.57 million cash to carry out financing activities during the year as against cash outgo of $29.74 million in the last year period.
Cash and cash equivalents stood at $140.65 million as on Sep. 24, 2016, up 5.21 percent or $6.96 million from $133.69 million on Sep. 26, 2015.
Working capital increases
J & J Snack Foods Corporation has recorded an increase in the working capital over the last year. It stood at $252.81 million as at Sep. 24, 2016, up 10.08 percent or $23.15 million from $229.67 million on Sep. 26, 2015. Current ratio was at 3.47 as on Sep. 24, 2016, up from 3.36 on Sep. 26, 2015
Debt moves up
J & J Snack Foods Corporation has witnessed an increase in total debt over the last one year. It stood at $1.60 million as on Sep. 24, 2016, up 8.92 percent or $0.13 million from $1.47 million on Sep. 26, 2015. Total debt was 0.20 percent of total assets as on Sep. 24, 2016, compared with 0.20 percent on Sep. 26, 2015.
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