New
Jersey
|
22-1935537
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
incorporation
or organization)
|
Identification
No.)
|
x | Yes | o | No |
x | Yes | o | No |
o | Yes | x | No |
Page
|
|||
Number
|
|||
Part
I. Financial Information
|
|||
Item l.
|
Consolidated
Financial Statements
|
||
Consolidated
Balance Sheets - December 27, 2008 (unaudited) and September 27,
2008
|
3
|
||
Consolidated
Statements of Earnings (unaudited)- Three Months Ended December 27, 2008
and December 29, 2007
|
5
|
||
Consolidated
Statements of Cash Flows(unaudited)- Three Months Ended December 27, 2008
and December 29, 2007
|
6
|
||
Notes
to the Consolidated Financial Statements
|
7
|
||
Item 2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
23
|
|
Item 3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
26
|
|
Item 4.
|
Controls
and Procedures
|
27
|
|
Part
II. Other Information
|
|||
Item 6.
|
Exhibits
and Reports on Form 8-K
|
28
|
December 27,
|
September 27,
|
|||||||
2008
|
2008
|
|||||||
(Unaudited)
|
||||||||
ASSETS | ||||||||
Current
assets
|
||||||||
Cash
and cash equivalents
|
$ | 37,028 | $ | 44,265 | ||||
Marketable
securities held to maturity
|
13,195 | 2,470 | ||||||
Auction
market preferred stock
|
19,900 | 14,000 | ||||||
Accounts
receivable, net
|
49,693 | 61,853 | ||||||
Inventories,
net
|
50,339 | 49,095 | ||||||
Prepaid
expenses and other
|
2,328 | 1,962 | ||||||
Deferred
income taxes
|
3,530 | 3,555 | ||||||
176,013 | 177,200 | |||||||
Property,
plant and equipment, at cost
|
||||||||
Land
|
1,416 | 1,416 | ||||||
Buildings
|
8,672 | 8,672 | ||||||
Plant
machinery and equipment
|
125,322 | 124,591 | ||||||
Marketing
equipment
|
195,468 | 195,878 | ||||||
Transportation
equipment
|
2,779 | 2,878 | ||||||
Office
equipment
|
10,918 | 10,820 | ||||||
Improvements
|
17,705 | 17,694 | ||||||
Construction
in progress
|
4,014 | 2,215 | ||||||
366,294 | 364,164 | |||||||
Less
accumulated depreciation and amortization
|
274,396 | 271,100 | ||||||
91,898 | 93,064 | |||||||
Other
assets
|
||||||||
Goodwill
|
60,314 | 60,314 | ||||||
Other
intangible assets, net
|
52,506 | 53,633 | ||||||
Marketable
securities held to maturity
|
5,220 | - | ||||||
Auction
market preferred stock
|
- | 21,200 | ||||||
Other
|
2,580 | 2,997 | ||||||
120,620 | 138,144 | |||||||
$ | 388,531 | $ | 408,408 |
|
December 27,
|
September 27,
|
||||||
|
2008
|
2008
|
||||||
|
(unaudited)
|
|||||||
LIABILITIES
AND STOCKHOLDERS’
EQUITY
|
||||||||
Current
liabilities
|
||||||||
Current
obligations under capital leases
|
$ | 94 | 93 | |||||
Accounts
payable
|
41,496 | 48,580 | ||||||
Accrued
liabilities
|
7,276 | 5,557 | ||||||
Accrued
compensation expense
|
6,411 | 10,232 | ||||||
Dividends
payable
|
1,786 | 1,732 | ||||||
57,063 | 66,194 | |||||||
Long-term
obligations under capital leases
|
357 | 381 | ||||||
Deferred
income taxes
|
23,056 | 23,056 | ||||||
Other
long-term liabilities
|
1,955 | 1,999 | ||||||
25,368 | 25,436 | |||||||
Stockholders’
equity
|
||||||||
Capital
stock
|
||||||||
Preferred,
$1 par value; authorized, 10,000 shares; none issued
|
- | - | ||||||
Common,
no par value; authorized 50,000 shares; issued and outstanding, 18,322 and
18,748 shares, respectively
|
36,641 | 48,415 | ||||||
Accumulated
other comprehensive loss
|
(3,440 | ) | (2,003 | ) | ||||
Retained
earnings
|
272,899 | 270,366 | ||||||
306,100 | 316,778 | |||||||
$ | 388,531 | $ | 408,408 |
Three Months Ended
|
||||||||
December 27,
|
December 29,
|
|||||||
2008
|
2007
|
|||||||
Net
Sales
|
$ | 141,142 | $ | 130,898 | ||||
Cost
of goods sold(1)
|
100,460 | 95,511 | ||||||
Gross
profit
|
40,682 | 35,387 | ||||||
Operating
expenses
|
||||||||
Marketing(2)
|
16,440 | 15,893 | ||||||
Distribution(3)
|
11,774 | 12,116 | ||||||
Administrative(4)
|
5,613 | 5,063 | ||||||
Other
general expense (income)
|
24 | (21 | ) | |||||
33,851 | 33,051 | |||||||
Operating
income
|
6,831 | 2,336 | ||||||
Other
income (expenses)
|
||||||||
Investment
income
|
461 | 814 | ||||||
Interest
expense and other
|
(29 | ) | (35 | ) | ||||
|
||||||||
Earnings
before income
taxes
|
7,263 | 3,115 | ||||||
Income
taxes
|
2,944 | 1,218 | ||||||
NET
EARNINGS
|
$ | 4,319 | $ | 1,897 | ||||
Earnings
per diluted share
|
$ | .23 | $ | .10 | ||||
Weighted
average number of diluted shares
|
18,774 | 19,076 | ||||||
Earnings
per basic share
|
$ | .23 | $ | .10 | ||||
Weighted
average number of basic shares
|
18,616 | 18,769 |
Includes
share-based compensation expense of $79 and $51 for the three months ended
December 27, 2008 and December 29, 2007, respectively.
|
|
(2)
|
Includes
share-based compensation expense of $261 and $183 for the three months
ended December 27, 2008 and December 29, 2007,
respectively.
|
Includes
share-based compensation expense of $8 and $5 for the three months ended
December 27, 2008 and December 29, 2007, respectively.
|
|
(4)
|
Includes
share-based compensation expense of $255 and $185 for the three months
ended December 27, 2008 and December 29, 2007,
respectively.
|
Three Months Ended
|
||||||||
December 27,
|
December 29,
|
|||||||
2008
|
2007
|
|||||||
Operating
activities:
|
||||||||
Net
earnings
|
$ | 4,319 | $ | 1,897 | ||||
Adjustments
to reconcile net earnings to net cash provided by operating
activities:
|
||||||||
Depreciation
and amortization of fixed assets
|
5,495 | 5,420 | ||||||
Amortization
of intangibles and deferred costs
|
1,276 | 1,340 | ||||||
Share-based
compensation
|
603 | 424 | ||||||
Deferred
income taxes
|
(8 | ) | (75 | ) | ||||
Other
|
(11 | ) | 3 | |||||
Changes
in assets and liabilities, net of effects from purchase of
companies
|
||||||||
Decrease
in accounts receivable
|
11,968 | 12,649 | ||||||
Increase
in inventories
|
(1,387 | ) | (1,589 | ) | ||||
Increase
in prepaid expenses
|
(381 | ) | (807 | ) | ||||
Decrease
in accounts payable and accrued liabilities
|
(8,921 | ) | (8,503 | ) | ||||
Net
cash provided by operating activities
|
12,953 | 10,759 | ||||||
Investing
activities:
|
||||||||
Purchase
of property, plant and equipment
|
(4,496 | ) | (6,506 | ) | ||||
Purchase
of marketable securities
|
(16,135 | ) | - | |||||
Proceeds
from redemption and sales of marketable securities
|
190 | - | ||||||
Purchase
of auction market preferred stock
|
- | (10,500 | ) | |||||
Proceeds
from redemption and sales of auction market preferred
stock
|
15,300 | 4,000 | ||||||
Proceeds
from disposal of property and equipment
|
71 | 88 | ||||||
Other
|
2 | (47 | ) | |||||
Net
cash used in investing activities
|
(5,068 | ) | (12,965 | ) | ||||
Financing
activities:
|
||||||||
Payments
to repurchase common stock
|
(12,510 | ) | - | |||||
Proceeds
from issuance of common stock
|
126 | 113 | ||||||
Payments
on capitalized lease obligations
|
(23 | ) | (23 | ) | ||||
Payments
of cash dividend
|
(1,732 | ) | (1,588 | ) | ||||
Net
cash used in financing activities
|
(14,139 | ) | (1,498 | ) | ||||
Effect
of exchange rate on cash and cash equivalents
|
(983 | ) | 51 | |||||
Net
decrease in cash and cash equivalents
|
(7,237 | ) | (3,653 | ) | ||||
Cash
and cash equivalents at beginning of period
|
44,265 | 15,819 | ||||||
Cash
and cash equivalents at end of period
|
$ | 37,028 | $ | 12,166 |
Note
1
|
In
the opinion of management, the accompanying unaudited consolidated
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to present fairly the financial position
and the results of operations and cash flows. Certain prior
year amounts have been reclassified to conform to the current period
presentation. These reclassifications had no effect on reported
net earnings.
|
The
results of operations for the three months ended December 27, 2008 and
December 29, 2007 are not necessarily indicative of results for the full
year. Sales of our frozen beverages and frozen
juice bars and ices are generally higher in the third and fourth quarters
due to warmer weather.
|
|
While
we believe that the disclosures presented are adequate to make the
information not misleading, it is suggested that these consolidated
financial statements be read in conjunction with the consolidated
financial statements and the notes included in our Annual Report on Form
10-K for the fiscal year ended September 27,
2008.
|
Note
2
|
We
recognize revenue from Food Service, Retail Supermarkets, The Restaurant
Group and Frozen Beverage products at the time the products are shipped to
third parties. When we perform services under service contracts
for frozen beverage dispenser machines, revenue is recognized upon the
completion of the services on specified machines. We provide an
allowance for doubtful receivables after taking into consideration
historical experience and other
factors.
|
Note
3
|
Depreciation
of equipment and buildings is provided for by the straight-line method
over the assets’ estimated useful lives. Amortization of improvements is
provided for by the straight-line method over the term of the lease or the
assets’ estimated useful lives, whichever is shorter. Licenses and rights,
customer relationships and non compete agreements arising from
acquisitions are amortized by the straight-line method over periods
ranging from 3 to 20 years.
|
Note
4
|
Our
calculation of earnings per share in accordance with SFAS No. 128,
“Earnings Per Share,” is as
follows:
|
Three
Months Ended December 27, 2008
|
||||||||||||
Income
|
Shares
|
Per
Share
|
||||||||||
(Numerator)
|
(Denominator)
|
Amount
|
||||||||||
(in
thousands, except per share amounts)
|
||||||||||||
Basic
EPS
|
||||||||||||
Net
Earnings available to common
stockholders
|
$ | 4,319 | 18,616 | $ | .23 | |||||||
Effect
of Dilutive Securities
|
||||||||||||
Options
|
- | 158 | - | |||||||||
Diluted
EPS
|
||||||||||||
Net
Earnings available to common stockholders plus assumed
conversions
|
$ | 4,319 | 18,774 | $ | .23 |
Three
Months Ended December 29, 2007
|
||||||||||||
Income
|
Shares
|
Per
Share
|
||||||||||
(Numerator)
|
(Denominator)
|
Amount
|
||||||||||
(in
thousands, except per share amounts)
|
||||||||||||
Basic
EPS
|
||||||||||||
Net
Earnings available to common stockholders
|
$ | 1,897 | 18,769 | $ | .10 | |||||||
Effect of Dilutive Securities | ||||||||||||
Options
|
- | 307 | - | |||||||||
Diluted
EPS
|
||||||||||||
Net
Earnings available to common stockholders plus assumed
conversions
|
$ | 1,897 | 19,076 | $ | .10 |
Note 5 | The Company follows FASB Statement No. 123(R), “Share-Based Payment”. Statement 123(R) requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost is measured based on the fair value of the equity or liability instruments issued. |
|
Statement
123(R) covers a wide range of share-based compensation arrangements
including share options, restricted share plans, performance-based awards,
share appreciation rights, and employee share purchase
plans.
|
|
In
addition to the accounting standard that sets forth the financial
reporting objectives and related accounting principles, Statement 123(R)
includes an appendix of implementation guidance that provides expanded
guidance on measuring the fair value of share-based payment
awards.
|
Three months ended
|
||||||||
December 27,
|
December 29,
|
|||||||
2008
|
2007
|
|||||||
(in thousands, except per share amounts)
|
||||||||
Stock
Options
|
$ | 306 | $ | 236 | ||||
Stock
purchase plan
|
144 | 39 | ||||||
Deferred
stock issued to outside directors
|
35 | 35 | ||||||
Restricted
stock issued to an employee
|
25 | 25 | ||||||
$ | 510 | $ | 335 | |||||
Per
diluted share
|
$ | .03 | $ | .02 | ||||
The
above compensation is net
of tax benefits
|
$ | 93 | $ | 89 |
Note 6
|
In
June 2006, the FASB issued Interpretation No. 48 (FIN 48), Accounting for
Uncertainty in Income Taxes, an Interpretation of FASB Statement No. 109
(SFAS 109).
|
|
FIN
48 clarifies the accounting for uncertainty in income taxes recognized in
an entity’s financial statements in accordance with SFAS
109. FIN 48 prescribes a recognition threshold and measurement
attribute for the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return. FIN 48
also provides guidance on derecognition, classification, interest and
penalties, accounting in interim periods, disclosure and
transition.
|
|
FIN
48 also provides guidance on financial reporting and classification of
differences between tax positions taken in a tax return and amounts
recognized in the financial
statements.
|
|
On
February 15, 2007, the FASB issued SFAS Statement No. 159, “The
Fair Value Option for Financial Assets and Financial Liabilities,” (SFAS
159). The Fair value option established by SFAS 159 permits, but does not
require, all entities to choose to measure eligible items at fair value at
specified election dates. An entity would report unrealized gains and
losses on items for which the fair value option has been elected in
earnings at each subsequent reporting date. SFAS 159 is effective for our
2009 fiscal year. We adopted FAS 159 on September 28, 2008. The
adoption has had no impact on the results of operations or the financial
condition of the Company as we have not chosen to measure any assets or
liabilities at fair value.
|
|
In
December 2007, the FASB issued Statement 141 (revised 2007), “Business
Combinations” (Statement 141R). When effective, Statement 141R
will replace existing Statement 141 in its
entirety.
|
December 27,
|
September 27,
|
|||||||
2008
|
2008
|
|||||||
(unaudited)
|
||||||||
(in thousands)
|
||||||||
Finished
goods
|
$ | 23,161 | $ | 23,512 | ||||
Raw
materials
|
8,965 | 7,658 | ||||||
Packaging
materials
|
5,654 | 5,405 | ||||||
Equipment
parts & other
|
12,559 | 12,520 | ||||||
$ | 50,339 | $ | 49,095 | |||||
The
above inventories are net of reserves
|
$ | 3,688 | $ | 3,817 |
Note
8
|
We principally sell
our products to the food service and retail supermarket
industries. We also distribute our products directly to the
consumer through our chain of retail stores referred to as The
Restaurant Group. Sales and results of our frozen beverages
business are monitored separately from the balance of our food service
business and restaurant group because of different distribution and
capital requirements. We maintain separate and discrete
financial information for the four operating segments mentioned above
which is available to our Chief Operating Decision Makers. We
have applied no aggregate criteria to any of these operating segments in
order to determine reportable segments. Our four reportable segments are
Food Service, Retail Supermarkets, The Restaurant Group and Frozen
Beverages. All inter-segment net sales and expenses have been
eliminated in computing net sales and operating income
(loss). These segments are described
below.
|
|
Food
Service
|
|
The
primary products sold to the food service group are soft pretzels, frozen
juice treats and desserts, churros and baked goods. Our
customers in the food service industry include snack bars and food stands
in chain, department and discount stores; malls and shopping centers; fast
food outlets; stadiums and sports arenas; leisure and theme parks;
convenience stores; movie theatres; warehouse club stores; schools,
colleges and other institutions. Within the food service
industry, our products are purchased by the consumer primarily for
consumption at the point-of-sale.
|
|
The
primary products sold to the retail supermarket industry are soft pretzel
products, including SUPERPRETZEL, LUIGI’S Real Italian Ice, MINUTE MAID
Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT Sorbet, FRUIT-A-FREEZE
frozen fruit bars, ICEE frozen novelties and TIO PEPE’S
Churros. Within the retail supermarket industry, our frozen and
prepackaged products are purchased by the consumer for consumption at
home.
|
|
The
Chief Operating Decision Maker for Food Service, Retail Supermarkets and
The Restaurant Group and the Chief Operating Decision Maker for Frozen
Beverages monthly review and evaluate operating income and sales in order
to assess performance and allocate resources to each individual
segment. In addition, the Chief Operating Decision Makers
review and evaluate depreciation, capital spending and assets of each
segment on a quarterly basis to monitor cash flow and asset needs of each
segment. Information regarding the operations in these four reportable
segments is as follows:
|
Three Months Ended
|
||||||||
December 27,
|
December 29,
|
|||||||
2008
|
2007
|
|||||||
(unaudited)
|
||||||||
(in
thousands)
|
||||||||
Sales
to external customers:
|
|
|||||||
Food
Service
|
$ | 97,535 | $ | 89,409 | ||||
Retail
Supermarket
|
10,033 | 10,644 | ||||||
The
Restaurant Group
|
433 | 587 | ||||||
Frozen
Beverages
|
33,141 | 30,258 | ||||||
$ | 141,142 | $ | 130,898 | |||||
Depreciation
and Amortization:
|
||||||||
Food
Service
|
$ | 4,064 | $ | 4,202 | ||||
Retail
Supermarket
|
- | - | ||||||
The
Restaurant Group
|
9 | 12 | ||||||
Frozen
Beverages
|
2,698 | 2,546 | ||||||
$ | 6,771 | $ | 6,760 | |||||
Operating
Income(Loss):
|
||||||||
Food
Service
|
$ | 7,281 | $ | 4,216 | ||||
Retail
Supermarket
|
1,101 | 223 | ||||||
The
Restaurant Group
|
38 | 54 | ||||||
Frozen
Beverages
|
(1,589 | ) | (2,157 | ) | ||||
$ | 6,831 | $ | 2,336 | |||||
Capital
Expenditures:
|
||||||||
Food
Service
|
$ | 2,750 | $ | 3,167 | ||||
Retail
Supermarket
|
- | - | ||||||
The
Restaurant Group
|
- | - | ||||||
Frozen
Beverages
|
1,746 | 3,339 | ||||||
$ | 4,496 | $ | 6,506 | |||||
Assets:
|
||||||||
Food
Service
|
$ | 260,894 | $ | 245,392 | ||||
Retail
Supermarket
|
2,731 | 2,731 | ||||||
The
Restaurant Group
|
652 | 848 | ||||||
Frozen
Beverages
|
124,254 | 123,686 | ||||||
$ | 388,531 | $ | 372,657 |
Note 9
|
We
follow SFAS No. 142 “Goodwill and Intangible Assets.” SFAS No.
142 includes requirements to test goodwill and indefinite lived intangible
assets for impairment rather than amortize them; accordingly, we no longer
amortize goodwill.
|
|
Our
four reporting units, which are also reportable segments, are Food
Service, Retail Supermarkets, The Restaurant Group and Frozen
Beverages.
|
|
The
carrying amount of acquired intangible assets for the Food Service, Retail
Supermarkets, The Restaurant Group and Frozen Beverage segments as of
December 27, 2008 are as follows:
|
Gross
|
Net
|
|||||||||||
Carrying
|
Accumulated
|
Carrying
|
||||||||||
Amount
|
Amortization
|
Amount
|
||||||||||
(in
thousands)
|
||||||||||||
FOOD
SERVICE
|
||||||||||||
Indefinite
lived intangible assets
|
||||||||||||
Trade
Names
|
$ | 8,180 | $ | - | $ | 8,180 | ||||||
Amortized
intangible assets
|
||||||||||||
Non
compete agreements
|
435 | 232 | 203 | |||||||||
Customer
relationships
|
33,287 | 8,946 | 24,341 | |||||||||
Licenses
and rights
|
3,606 | 1,892 | 1,714 | |||||||||
$ | 45,508 | $ | 11,070 | $ | 34,438 | |||||||
RETAIL
SUPERMARKETS
|
||||||||||||
Indefinite
lived intangible assets
|
||||||||||||
Trade
Names
|
$ | 2,731 | $ | - | $ | 2,731 | ||||||
THE
RESTAURANT GROUP
|
||||||||||||
Amortized
intangible assets Licenses and rights
|
$ | - | $ | - | $ | - | ||||||
FROZEN
BEVERAGES
|
||||||||||||
Indefinite
lived intangible assets
|
||||||||||||
Trade
Names
|
$ | 9,315 | $ | - | $ | 9,315 | ||||||
Amortized
intangible assets
|
||||||||||||
Non
compete agreements
|
148 | 109 | 39 | |||||||||
Customer
relationships
|
6,478 | 1,714 | 4,764 | |||||||||
Licenses
and rights
|
1,601 | 382 | 1,219 | |||||||||
$ | 17,542 | $ | 2,205 | $ | 15,337 |
Amortized
intangible assets are being amortized by the straight-line method over
periods ranging from 3 to 20 years and amortization expense is reflected
throughout operating expenses. There were no changes in the
gross carrying amount of intangible assets for the three months ended
December 27, 2008. Aggregate amortization expense of intangible
assets for the 3 months ended December 27, 2008 and December 29, 2007 was
$1,127,000 and $1,192,000,
respectively.
|
Food
|
Retail
|
Restaurant
|
Frozen
|
|||||||||||||||||
Service
|
Supermarket
|
Group
|
Beverages
|
Total
|
||||||||||||||||
(in
thousands)
|
||||||||||||||||||||
Balance
at December 27, 2008
|
$ | 23,988 | $ | - | $ | 386 | $ | 35,940 | $ | 60,314 |
Note 10
|
We
have classified our investment securities as marketable securities held to
maturity and auction market preferred stock (“AMPS”).
|
The
amortized cost, unrealized gains and losses, and fair market values of our
marketable securities held to maturity at December 27, 2008 are summarized
as follows:
|
Gross
|
Gross
|
Fair
|
||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Market
|
|||||||||||||
Cost
|
Gains
|
Losses
|
Value
|
|||||||||||||
(in
thousands)
|
||||||||||||||||
FDIC
Backed Notes
|
$ | 5,030 | $ | 101 | $ | - | $ | 5,131 | ||||||||
Certificates
of Deposit
|
13,385 | 64 | $ | 5 | 13,444 | |||||||||||
18,415 | $ | 165 | $ | 5 | $ | 18,575 |
Gross
|
Gross
|
Fair
|
||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Market
|
|||||||||||||
Cost
|
Gains
|
Losses
|
Value
|
|||||||||||||
(in
thousands)
|
||||||||||||||||
Auction
Market Preferred Stock Equity Securities
|
$ | 19,900 | $ | - | $ | - | $ | 19,900 | ||||||||
$ | 19,900 | $ | - | $ | - | $ | 19,900 |
Certificates
of Deposit
|
$ | 2,470 | $ | - | $ | 6 | $ | 2,464 | ||||||||
$ | 2,470 | $ | - | $ | 6 | $ | 2,464 |
Gross
|
Gross
|
Fair
|
||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Market
|
|||||||||||||
Cost
|
Gains
|
Losses
|
Value
|
|||||||||||||
(in
thousands)
|
||||||||||||||||
Auction
Market Preferred Stock Equity Securities
|
$ | 35,200 | $ | - | $ | - | $ | 35,200 | ||||||||
$ | 35,200 | $ | - | $ | - | $ | 35,200 |
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market
Risk
|
Item
4.
|
Controls
and Procedures
|
Item
6.
|
Exhibits
and Reports on Form 8-K
|
a)
|
Exhibits | |
31.1
&
31.2
|
Certification
Pursuant to Section 302 of the Sarbanes-Oxley Act of
2002
|
|
99.5
&
99.6
|
Certification
Pursuant to the 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
|
|
b)
|
Reports on Form 8-K - Reports on Form 8-K were filed on November 6, 2008 and December 8, 2008. |
J
& J SNACK FOODS CORP.
|
|
Dated: January
22, 2009
|
/s/
Gerald B. Shreiber
|
Gerald
B. Shreiber
|
|
Chairman
of the Board,
|
|
President,
Chief Executive
|
|
Officer
and Director
|
|
(Principal
Executive Officer)
|
Dated: January
22, 2009
|
/s/
Dennis G. Moore
|
Dennis
G. Moore, Senior Vice
|
|
President,
Chief Financial
|
|
Officer
and Director
|
|
(Principal
Financial Officer)
|
|
(Principal
Accounting Officer)
|