(RTTNews) - J & J Snack Foods Corp. (JJSF) reported first-quarter earnings per share of $0.89 compared to $0.93 last year. The company noted that its net earnings for last year's quarter benefited from a reduction of $0.05 per share, as the provision for the one time repatriation tax as a result of the Tax Cuts and Job Act of 2017 was reduced as the amount recorded the year prior was an estimate. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $1.02, for the quarter. Analysts' estimates typically exclude special items.
First-quarter sales increased 4% to $282.9 million from $271.6 million, a year ago. Analysts expected revenue of $278.53 million for the quarter.
Gerald Shreiber, CEO, said, "We remain committed to long term profitable sales growth."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.