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J&J Snack Foods fiscal Q4 profit falls 8.8% YOY

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J&J Snack Foods fiscal Q4 profit falls 8.8% YOY

J&J Snack Foods Corp. said its normalized net income for the fiscal fourth quarter ended Sept. 26 was $1.07 per share, compared with the S&P Capital IQ consensus estimate of $1.20 per share.

EPS decreased 9.0% year over year from $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.1 million, a decrease of 8.8% from $22.1 million in the prior-year period.

The normalized profit margin dropped to 7.7% from 8.7% in the year-earlier period.

Total revenue grew year over year to $259.8 million from $253.5 million, and total operating expenses climbed year over year to $226.1 million from $219.4 million.

Reported net income fell 10.8% on an annual basis to $19.8 million, or $1.05 per share, from $22.2 million, or $1.18 per share.

For the year, the company's normalized net income totaled $3.72 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.88.

EPS was $3.74 in the prior year.

Normalized net income was $69.9 million, compared with $70.3 million in the prior year.

Full-year total revenue rose 6.2% from the prior-year period to $976.3 million from $919.5 million, and total operating expenses grew 6.7% year over year to $865.4 million from $811.4 million.

The company said reported net income decreased year over year to $70.2 million, or $3.73 per share, in the full year, from $71.8 million, or $3.82 per share.