J&J Snack Foods Corp.

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jjsnack_8k-012312.htm

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 23, 2012

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 simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

( ) 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 23, 2012, J & J Snack Foods Corp. issued a press release regarding its earnings for the first quarter of fiscal year 2012.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit Number	Description of Document

99.1	Press Release dated January 23, 2012

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



	By:	/s/ Dennis G. Moore

		Dennis G. Moore Chief Financial Officer

Date: January 23, 2012

EXHIBIT INDEX

Exhibit Number	Description

99.1	Press Release dated January 23, 2012

ex99-1.htm

Exhibit 99.1

IMMEDIATE RELEASE	Contact:	Dennis G. Moore
FOR:		Senior Vice President Chief Financial Officer (856) 532-6603
6000 Central Highway Pennsauken, NJ 08109

J & J SNACK FOODS

REPORTS FIRST QUARTER SALES

AND EARNINGS

Pennsauken, NJ, January 23, 2012 - - J & J Snack Foods Corp. (NASDAQ-JJSF) today announced sales and earnings for the first quarter ended December 24, 2011.

Sales increased 11% to $172.7 million from $155.6 million in last year’s first quarter. Net earnings were $5.5 million in the current quarter compared to $7.1 million last year. Earnings per diluted share were $.29 for the first quarter compared to $.38 last year. Operating income decreased 23% to $8.5 million in the current quarter from $11.0 million in the year ago quarter.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, "ICEE improved significantly from last year. Other than ICEE, our results were disappointing. Contributing factors were weak volume, inability to offset ingredient and packaging cost increases and other increases in operating costs."

J & J Snack Foods Corp.’s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE and SLUSH PUPPIE frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices, WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S and CALIFORNIA CHURROS churros, THE FUNNEL CAKE FACTORY funnel cakes, MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies, PATIO burritos and HAND FULLS and HOLLY RIDGE BAKERY filled handheld products. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida; Colton, Vernon and Norwalk, California; Holly Ridge, North Carolina; and Weston, Oregon.

*MINUTE MAID is a registered trademark of The Coca-Cola Company.

**BARQ’S is a registered trademark of Barq’s Inc.

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	Consolidated Statement of Operations Three Months Ended
	December 24,		December 25,
	2011		2010
	(unaudited)
	(in thousands)

Net sales	$	172,686	$	155,632
Cost of goods sold		126,280		109,531
Gross profit		46,406		46,101
Operating expenses		37,943		35,128
Operating income		8,463		10,973
Other income		316		200
Earnings before income taxes		8,779		11,173
Income taxes		3,294		4,079
Net earnings	$	5,485	$	7,094

Earnings per diluted share	$	.29	$	.38
Earnings per basic share	$	.29	$	.38
Weighted average number of diluted shares		18,874		18,702
Weighted average number of basic shares		18,806		18,578

	Consolidated Balance Sheets
	December 24, 2011		September 24, 2011
	(unaudited)
	(in thousands)

Cash & cash equivalents	$	94,091	$	87,479
Current marketable securities held to maturity		8,650		25,506
Other current assets		128,846		146,865
Property, plant & equipment, net		127,039		124,650
Goodwill		70,070		70,070
Other intangible assets, net		51,373		52,005
Marketable securities held to maturity		63,000		42,000
Other		2,226		2,241
Total	$	545,295	$	550,816

Current liabilities	$	65,492	$	75,848
Long-term obligations under capital leases		448		523
Deferred income taxes		40,993		41,050
Other long-term obligations		965		1,007
Stockholders’ equity		437,397		432,388
Total	$	545,295	$	550,816

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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.

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