J & J Snack Foods Posts Operating Loss In Q3; Sales Down 34%

(RTTNews) - J & J Snack Foods Corp. (JJSF) reported a third quarter loss per share of $0.67 compared to profit of $1.63 per share, last year. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.11, for the quarter. Analysts' estimates typically exclude special items. Operating loss was $19.4 million compared to operating income of $39.0 million prior year.

Third quarter sales decreased 34% year-on-year to $214.6 million. Analysts expected revenue of $184 million for the quarter.

J & J Snack Foods stated that its sales for the last 5 weeks of the third quarter, or fiscal June, improved to being down approximately 24% from previous year. As the company has $270 million of cash and marketable securities on its balance sheet, it does not anticipate to have any liquidity issues.