JOHN
B. SANFILIPPO & SON, INC.
CONSOLIDATED
STATEMENTS OF OPERATIONS
(Dollars
in thousands, except earnings per share)
| |
For
the Quarter Ended
(Unaudited) |
| |
September
28,
2000 |
September
23,
1999 |
| |
|
|
| Net
sales |
$87,183
|
$79,524
|
| Cost
of sales |
72,813 |
66,975 |
| Gross
profit |
14,370 |
12,549 |
| |
|
|
| Selling
expenses |
8,134 |
8,048 |
| Administrative
expenses |
2,230 |
1,723 |
| |
10,364 |
9,771 |
| |
|
|
| Income
from operations |
4,006 |
2,778 |
| |
|
|
| Other
income (expense): |
|
|
|
Interest expense |
(2,073) |
(1,886) |
|
Rental income |
148 |
143 |
|
Miscellaneous |
4 |
33 |
| |
(1,921) |
(1,710) |
| |
|
|
| Income
before income taxes |
2,085 |
1,068 |
| Income
tax expense |
834 |
427 |
| |
|
|
| Net
income |
$1,251
|
$641
|
| |
|
|
| Basic
and diluted earnings per share |
$0.14
|
$0.07
|
| |
|
|
| Weighted
average shares outstanding |
|
|
|
-- basic |
9,148,565 |
9,148,565 |
| |
|
|
|
-- diluted |
9,148,565 |
9,148,565 |
JOHN
B. SANFILIPPO & SON, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
| |
(Unaudited)
September 28,
2000 |
June
29,
2000 |
| ASSETS |
|
|
| |
|
|
| CURRENT
ASSETS: |
|
|
|
Cash |
$627
|
$1,113
|
|
Accounts receivable, net |
31,404 |
24,068 |
|
Inventories |
97,964 |
105,760 |
|
Deferred income taxes |
910 |
910 |
|
Income taxes receivable |
- |
- |
|
Prepaid expenses and other current assets |
2,450 |
2,708 |
| |
133,355 |
134,559 |
| |
|
|
| PROPERTIES,
NET |
70,621 |
69,761 |
| OTHER
ASSETS |
11,177 |
11,493 |
| |
$215,153
|
$215,813
|
| |
|
|
| |
(Unaudited)
September 28,
2000 |
June
29,
2000 |
| |
|
|
| LIABILITIES
& STOCKHOLDERS' EQUITY |
|
|
| |
|
|
| CURRENT
LIABILITIES: |
|
|
|
Notes Payable |
$30,590
|
$41,874
|
|
Current maturities of long-term debt |
5,704 |
5,702 |
|
Accounts payable |
19,642 |
11,851 |
|
Drafts payable |
8,311 |
5,747 |
|
Accrued expenses |
10,018 |
8,756 |
|
Income taxes payable |
871 |
461 |
| |
75,136 |
74,391 |
| |
|
|
| LONG-TERM
DEBT |
49,123 |
51,779 |
| LONG-TERM
DEFERRED INCOME TAXES |
2,892 |
2,892 |
| |
52,015 |
54,671 |
| |
|
|
| STOCKHOLDERS'
EQUITY: |
|
|
|
Class A common stock |
37 |
37 |
|
Common stock |
56 |
56 |
|
Capital in excess of par value |
57,196 |
57,196 |
|
Retained earnings |
31,917 |
30,666 |
|
Treasury stock |
(1,204) |
(1,204) |
| |
88,002 |
86,751 |
| |
$215,153
|
$215,813
|
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