JOHN B. SANFILIPPO
& SON, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Dollars in Thousands, Except Per Share)
(Unaudited)
|
For the Quarter
Ended
|
|
|
September
23, 1999
|
September
24, 1998
|
|
Net sales
|
$79,524
|
$73,829
|
|
Cost of sales
|
66,975
|
62,413
|
|
Gross profit
|
12,549
|
11,416
|
|
Selling expenses
|
8,048
|
6,574
|
|
Administrative expenses
|
1,723
|
2,192
|
| |
9,771
|
8,766
|
|
Income from operations
|
2,778
|
2,650
|
|
Other income (expense)
|
|
|
|
Interest expense
|
(1,886)
|
(2,275)
|
|
Interest income
|
6
|
7
|
|
Gain on disposition of properties
|
27
|
11
|
|
Rental income
|
143
|
129
|
| |
(1,710)
|
(2,128)
|
|
Income before income tax
|
1,068
|
522
|
|
Income tax expense
|
427
|
235
|
|
Net income
|
$641
|
$287
|
|
Basic and diluted earnings
per share
|
$0.07
|
$0.03
|
|
Weighted average shares outstanding:
|
|
|
|
Basic and diluted
|
9,148,565
|
9,148,565
|
JOHN B. SANFILIPPO
& SON, INC.
CONSOLIDATED BALANCE SHEETS
(Dollars in Thousands)
| ASSETS |
(Unaudited)
September 23, 1999 |
June
24, 1999 |
|
CURRENT ASSETS:
|
|
|
|
Cash
|
$1,875
|
$1,393
|
|
Accounts receivable, net
|
25,388
|
24,105
|
|
Inventories
|
75,930
|
89,033
|
|
Deferred income taxes
|
519
|
519
|
|
Income taxes receivable
|
--
|
94
|
|
Prepaid expenses and other
current assets
|
3,433
|
3,355
|
|
TOTAL CURRENT ASSETS
|
107,145
|
118,499
|
|
PROPERTIES, NET
|
72,281
|
72,774
|
|
OTHER ASSETS
|
13,111
|
13,951
|
|
TOTAL ASSETS
|
$192,537
|
$205,224
|
|
LIABILITIES & STOCKHOLDERS
EQUITY
|
(Unaudited)
September 23, 1999
|
June 24,
1999
|
|
CURRENT LIABILITIES:
|
|
|
|
Notes payable
|
$24,227
|
$36,411
|
|
Current maturities of long-term
debt
|
5,659
|
5,672
|
|
Accounts payable
|
12,185
|
9,839
|
|
Drafts payable
|
6,297
|
5,540
|
|
Accrued expenses
|
5,679
|
7,522
|
|
Income taxes payable
|
287
|
--
|
|
TOTAL CURRENT LIABILITIES
|
54,334
|
64,984
|
|
Long-term debt, less current
maturities
|
54,830
|
57,508
|
|
Long-term deferred income taxes
|
2,738
|
2,738
|
| |
57,568
|
60,246
|
|
STOCKHOLDERS EQUITY
|
|
|
|
Class A common stock
|
37
|
37
|
|
Common stock
|
56
|
56
|
|
Capital in excess of par value
|
57,196
|
57,196
|
|
Retained earnings
|
24,550
|
23,909
|
|
Treasury stock
|
(1,204)
|
(1,204)
|
| |
80,635
|
79,994
|
|
TOTAL LIABILITIES & STOCKHOLDERS
EQUITY
|
$192,537
|
$205,224
|
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