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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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