J & J Snack Foods Reports Fiscal 2026 Second Quarter Results
Rhea-AI Summary
J & J Snack Foods (Nasdaq: JJSF) reported fiscal 2026 second quarter results for the period ended March 28, 2026. Net sales were $344.8M, down 3.2% year-over-year; gross profit rose to $99.3M and gross margin improved to 28.8%. Operating income was $1.8M and net earnings were $1.7M. Adjusted EBITDA was $28.7M (+9.5%) and adjusted EPS was $0.40 (+14.3%). The company repurchased $22M of stock and has $28M remaining on its $50M buyback authorization.
Results reflect Project Apollo transformation benefits, non-recurring plant closure costs of $6.5M (including $4.1M non-cash), and segment mix shifts across Food Service, Retail Supermarket, and Frozen Beverages.
AI-generated analysis. Not financial advice.
Positive
- Adjusted EBITDA +9.5% to $28.7M
- Adjusted EPS +14.3% to $0.40
- Gross margin improved to 28.8%
- Share repurchases of $22M in the quarter
Negative
- Net sales declined 3.2% to $344.8M
- Operating income fell to $1.8M, down 70.1%
- Non-recurring plant closure costs of $6.5M included in operating expenses
- Retail Supermarket operating loss of $0.4M
News Market Reaction – JJSF
On the day this news was published, JJSF declined 7.01%, reflecting a notable negative market reaction. Argus tracked a trough of -6.3% from its starting point during tracking. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $115M from the company's valuation, bringing the market cap to $1.52B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers showed mixed moves: FLO up 3.85%, CENTA/CENT modestly positive, while NOMD and SMPL declined. With JJSF’s move unspecified and scanner momentum limited to one peer (FRPT up 10.39%), activity appeared stock-specific rather than a broad packaged foods shift.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 22 | Earnings call notice | Neutral | +0.2% | Announcement of timing for fiscal 2026 Q2 earnings release and webcast. |
| Feb 12 | Dividend declaration | Positive | +1.4% | Quarterly cash dividend of $0.80 per share announced for April payment. |
| Feb 03 | Q1 earnings report | Negative | -15.4% | Weaker sales and lower net earnings despite margin gains and higher adjusted EBITDA. |
| Jan 16 | Earnings call notice | Neutral | +1.4% | Scheduling of fiscal 2026 Q1 results release and investor call details. |
| Nov 20 | Dividend declaration | Positive | -0.4% | Board declared a quarterly cash dividend of $0.80 per share. |
Earnings results have triggered the largest moves, including a sharp negative reaction to the prior quarter, while dividends and conference-call notices have had relatively modest, mixed impacts.
Over the last six months, JJSF news has centered on earnings, capital returns, and routine corporate actions. The prior fiscal 2026 Q1 results on Feb 3, 2026 showed weaker sales but growing adjusted EBITDA and led to a -15.44% move. Two dividend declarations with $0.80 quarterly payouts had small, mixed price reactions. Conference call scheduling notices in Jan 2026 and Apr 2026 produced minimal movement. Today’s second quarter report continues the theme of revenue pressure offset by margin and adjusted profitability gains.
Market Pulse Summary
The stock moved -7.0% in the session following this news. A negative reaction despite adjusted earnings growth fits prior sensitivity to reported profit pressure. Fiscal 2026 Q2 net sales declined and GAAP operating income and net earnings fell versus last year, similar to the weaker headline figures seen in fiscal 2026 Q1, which preceded a -15.44% move. While gross margin and adjusted EBITDA improved, ongoing plant closure and restructuring costs, plus segment-level softness in bakery and frozen novelties, could raise concerns about the pace and cost of the transformation.
Key Terms
non-gaap financial measures financial
adjusted ebitda financial
effective tax rate financial
AI-generated analysis. Not financial advice.
MOUNT LAUREL, N.J., May 06, 2026 (GLOBE NEWSWIRE) -- J & J Snack Foods Corp. (Nasdaq: JJSF) today reported financial results for the first quarter ended March 28, 2026.
| Second Quarter | |||||
| Actuals | $ v. LY | % v. LY | |||
| Net Sales | (3.2)% | ||||
| Gross Profit | |||||
| Operating Income | ( | ( | |||
| Net Earnings | ( | ( | |||
| Earnings per Diluted Share | ( | ( | |||
| Adjusted Operating Income | |||||
| Adjusted EBITDA | |||||
| Adjusted Earnings per Diluted Share | |||||
This press release contains non-GAAP financial measures. Please refer to the Non-GAAP Financial Measures section below for reconciliations to the most comparable GAAP measures.
"Our second quarter results demonstrate meaningful progress in our strategic transformation, with strong profitability improvements that position us well for the future," said Dan Fachner, Chairman, President, and CEO of J&J Snack Foods. "Our transformation initiatives and mix improvements enabled us to drive solid bottom line growth including a
"The innovative product launches we discussed last quarter are now reaching customers with positive early reception, and our pipeline remains robust. During the quarter, we repurchased
Second Quarter Results
Net sales decreased
- Food Service segment net sales decreased
5.0% - Retail Supermarket segment net sales decreased
4.1% - Frozen Beverage segment net sales increased
3.1%
Gross profit increased from
Total operating expenses of
- Selling and Marketing expenses increased
5.5% to$30.1 million or8.7% of sales, up from8.0% in the prior year quarter. The increase included investments in brand support and sponsorships. - Distribution expenses decreased
0.2% to$41.7 million or12.1% of sales up from11.7% in the prior year quarter. Distribution expenses included higher fuel costs of approximately$0.4 million . - Administrative expenses increased
7.2% to$21.2 million or6.1% of sales, up from5.5% in the prior year quarter. The increase was primarily due to a$0.9 million increase in non-recurring legal expenses and other restructuring charges including severance.
Operating income was
Food Service Segment
- Net sales of
$214.7 million , a year-over-year decrease of$11.4 million or5.0% . - Anticipated reductions in our lower margin bakery business represented approximately
$8.0 million of the decline. - Pretzels sales increased
$6.7 million , partly offsetting lower sales of handhelds, cookies, and churros. - Operating income increased
$3.4 million to$10.9 million .
Retail Supermarket Segment
- Net sales of
$51.6 million , a year-over-year decrease of$2.2 million or4.1% . - Frozen novelty sales declined
$3.9 million , driven primarily by increased slotting fees associated with our new product innovation and higher trade investment compared to the prior year. - Retail handheld sales increased as we lapped capacity constraints in the prior year.
- Operating income decreased
$3.9 million to a ($0.4) million loss.
Frozen Beverages Segment
- Net sales of
$78.5 million , a year-over-year increase of$2.3 million or3.1% . - Beverage sales were up
$5.2 million while service sales declined$3.2 million . - Operating income increased
$2.1 million to$4.6 million .
Share Repurchases
During the quarter, we repurchased 259,889 shares of common stock for
Conference Call
J&J Snack Foods Corp. will host a conference call to discuss results and business outlook today, May 6, 2026, at 10:00 a.m. Eastern Time. Investors interested in participating in the live call can dial (844) 826-3033 from the U.S. or international callers can dial (412) 317-5185. There will also be a live webcast available on the Investor Relations section of the Company's web site at investors.jjsnack.com/news-events/events or directly here. The webcast will be archived for approximately 30 days.
About J & J Snack Foods Corp.
J & J Snack Foods Corp. (Nasdaq: JJSF) is a leader and innovator in the snack food and frozen beverage industry. For over fifty years, the company has specialized in delicious snack and beverage brands for the foodservice and retail segments, serving up fun across the U.S. market. J & J Snack Foods’ core brands include SUPERPRETZEL, the #1 soft pretzel brand, ICEE and SLUSH PUPPIE frozen beverages, and Dippin’ Dots, the original beaded ice cream. The company’s broad brand portfolio also includes LUIGI’S Real Italian Ice, MINUTE MAID* frozen ices, WHOLE FRUIT frozen fruit bars, DOGSTERS ice cream style treats for dogs, ¡Hola! Churros, THE FUNNEL CAKE FACTORY funnel cakes and fries, and bakery brands including MARY B’S, DADDY RAY’S, COUNTRY HOME BAKERS, and HILL & VALLEY. For more information, please visit http://www.jjsnack.com. *MINUTE MAID is a registered trademark of The Coca-Cola Company.
Cautionary Statement Regarding Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, revenue growth and profit levels, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “goals,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. This includes, without limitation, our statements, and expectations regarding any current or future recovery in our industry and the future impact of our operational efficiency projects. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the expectations of management. We do not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include consumer spending, price competition, acceptance of new products, the pricing and availability of raw materials, transportation costs, changes in the competitive marketplace the uncertainty and ultimate economic impact of the COVID-19 pandemic or similar health outbreaks, and other risks identified in our annual report on Form 10-K, and our other filings with the Securities and Exchange Commission. Many of these factors are outside of the Company’s control.
Non-GAAP Financial Measures
Adjusted EBITDA consists of net earnings adjusted to exclude: income taxes (benefit); investment income; interest expense; depreciation and amortization; share-based compensation expense; net (gain) loss on sale or disposal of assets; impairment charges, restructuring costs, merger and acquisition costs, acquisition related inventory adjustments, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. Adjusted Operating Income consists of operating income adjusted to exclude: impairment charges, restructuring costs, merger and acquisition costs, acquisition related amortization expenses and inventory adjustments, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. Adjusted Earnings per Diluted Share consists of net earnings adjusted to exclude: impairment charges, restructuring costs, merger and acquisition costs, acquisition related amortization expenses and inventory adjustment, strategic business transformation costs, integration costs, non-recurring legal fee settlements, gain on insurance proceeds received for damage to property, plant and equipment, and plant closure expenses. For purposes of comparability, the income tax effect of pre-tax adjustments is determined using statutory tax rates. This press release contains certain non-GAAP financial measures; Adjusted EBITDA, Adjusted Operating Income, and Adjusted Earnings per Diluted Share. A "non-GAAP financial measure" is a numerical measure of a company's financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP") in the statements of income, balance sheets, or statements of cash flow of the company. Pursuant to applicable reporting requirements, the company has provided reconciliations below of non-GAAP financial measures to the most directly comparable GAAP measure. The non-GAAP financial measures presented within the Company's earnings release are not indicators of our financial performance under GAAP and should not be considered as an alternative to the applicable GAAP measure. These non-GAAP measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. In addition, in evaluating these non-GAAP measures, you should be aware that in the future we may incur income, expenses, gains and losses, similar to the adjustments in this press release. Our presentation of these non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or infrequent items. We compensate for these limitations by providing equal prominence to our GAAP results and using non-GAAP measures only as supplemental presentations. The non-GAAP measures presented are utilized by management to evaluate the Company's business performance and profitability by excluding certain items that may not be indicative of our recurring core business operating results. The Company believes that these measures provide additional clarity for investors by excluding specific income, expenses, gains, and losses, in an effort to show comparable business operating results for the periods presented. Similarly, Management believes these adjusted measures are useful performance measures because certain items included in the calculations may either mask or exaggerate trends in the Company’s ongoing operating performance. See the reconciliation of Non-GAAP Financial Measures below.
Investor Contact:
Reed Anderson, ICR
(646) 277-1260
reed.anderson@icrinc.com
| J & J SNACK FOODS CORP. AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF EARNINGS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||
| Three months ended | Six months ended | ||||||||||||||
| March 28, | March 29, | March 28, | March 29, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net sales | $ | 344,819 | $ | 356,099 | $ | 688,597 | $ | 718,697 | |||||||
| Cost of goods sold | 245,527 | 260,396 | 493,293 | 529,093 | |||||||||||
| Gross profit | 99,292 | 95,703 | 195,304 | 189,604 | |||||||||||
| Operating expenses | |||||||||||||||
| Marketing | 30,083 | 28,507 | 61,582 | 57,176 | |||||||||||
| Distribution | 41,737 | 41,833 | 79,793 | 81,443 | |||||||||||
| Administrative | 21,184 | 19,754 | 41,561 | 38,657 | |||||||||||
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | (800 | ) | - | ||||||||||
| Plant closure expenses | 4,756 | - | 10,869 | - | |||||||||||
| Other general expense | (271 | ) | (414 | ) | (141 | ) | 66 | ||||||||
| Total operating expenses | 97,489 | 89,680 | 192,864 | 177,342 | |||||||||||
| Operating income | 1,803 | 6,023 | 2,440 | 12,262 | |||||||||||
| Other income (expense) | |||||||||||||||
| Investment income | 832 | 689 | 1,544 | 1,726 | |||||||||||
| Interest expense | (302 | ) | (85 | ) | (441 | ) | (297 | ) | |||||||
| Earnings before income taxes | 2,333 | 6,627 | 3,543 | 13,691 | |||||||||||
| Income tax expense | 656 | 1,803 | 983 | 3,724 | |||||||||||
| NET EARNINGS | $ | 1,677 | $ | 4,824 | $ | 2,560 | $ | 9,967 | |||||||
| Earnings per diluted share | $ | 0.09 | $ | 0.25 | $ | 0.13 | $ | 0.51 | |||||||
| Weighted average number of diluted shares | 18,930 | 19,563 | 19,136 | 19,568 | |||||||||||
| Earnings per basic share | $ | 0.09 | $ | 0.25 | $ | 0.13 | $ | 0.51 | |||||||
| Weighted average number of basic shares | 18,910 | 19,488 | 19,113 | 19,480 | |||||||||||
| J & J SNACK FOODS CORP. AND SUBSIDIARIES | |||||||
| CONSOLIDATED BALANCE SHEETS | |||||||
| (Unaudited) | |||||||
| (in thousands, except share amounts) | |||||||
| March 28, | September 27, | ||||||
| 2026 | 2025 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 59,746 | $ | 105,893 | |||
| Accounts receivable, net | 178,011 | 184,069 | |||||
| Inventories | 171,561 | 175,173 | |||||
| Prepaid expenses and other | 24,169 | 13,197 | |||||
| Total current assets | 433,487 | 478,332 | |||||
| Property, plant and equipment, at cost | 1,030,562 | 1,009,463 | |||||
| Less accumulated depreciation and amortization | 646,912 | 619,310 | |||||
| Property, plant and equipment, net | 383,650 | 390,153 | |||||
| Other assets | |||||||
| Goodwill | 185,070 | 185,070 | |||||
| Trade name intangible assets, net | 105,920 | 105,920 | |||||
| Other intangible assets, net | 63,930 | 66,730 | |||||
| Operating lease right-of-use assets | 149,591 | 151,538 | |||||
| Other | 3,488 | 3,758 | |||||
| Total other assets | 507,999 | 513,016 | |||||
| Total Assets | $ | 1,325,136 | $ | 1,381,501 | |||
| Liabilities and Stockholders' Equity | |||||||
| Current Liabilities | |||||||
| Current portion of long-term debt | $ | 29,000 | $ | - | |||
| Current finance lease liabilities | 615 | 563 | |||||
| Accounts payable | 89,631 | 82,405 | |||||
| Accrued insurance liability | 15,718 | 16,441 | |||||
| Accrued liabilities | 12,326 | 12,606 | |||||
| Current operating lease liabilities | 23,064 | 21,624 | |||||
| Accrued compensation expense | 22,143 | 26,475 | |||||
| Dividends payable | 15,003 | 15,552 | |||||
| Total current liabilities | 207,500 | 175,666 | |||||
| Long-term debt | - | - | |||||
| Noncurrent finance lease liabilities | 1,117 | 1,355 | |||||
| Noncurrent operating lease liabilities | 138,737 | 140,021 | |||||
| Deferred income taxes | 91,180 | 91,703 | |||||
| Other long-term liabilities | 6,526 | 6,061 | |||||
| Stockholders' Equity | |||||||
| Preferred stock, | - | - | |||||
| Common stock, no par value; authorized, 50,000,000 shares; issued and outstanding 18,753,000 and 19,440,000 respectively | 78,110 | 139,118 | |||||
| Accumulated other comprehensive loss | (10,607 | ) | (12,647 | ) | |||
| Retained Earnings | 812,573 | 840,224 | |||||
| Total stockholders' equity | 880,076 | 966,695 | |||||
| Total Liabilities and Stockholders' Equity | $ | 1,325,136 | $ | 1,381,501 | |||
| J & J SNACK FOODS CORP. AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited) | |||||||
| (in thousands) | |||||||
| Six months ended | |||||||
| March 28, | March 29, | ||||||
| 2026 | 2025 | ||||||
| Operating activities: | |||||||
| Net earnings | $ | 2,560 | $ | 9,967 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities | |||||||
| Depreciation of fixed assets | 34,799 | 31,585 | |||||
| Amortization of intangibles and deferred costs | 2,800 | 3,925 | |||||
| Losses (Gains) from disposals of property & equipment | 168 | (77 | ) | ||||
| Non-cash plant shutdown expenses | 5,046 | - | |||||
| Non-cash impairment charge | 850 | - | |||||
| Share-based compensation | 3,131 | 2,753 | |||||
| Deferred income taxes | (480 | ) | 56 | ||||
| Gain on insurance proceeds received for damage to property, plant, and equipment | (800 | ) | - | ||||
| Other | 270 | 209 | |||||
| Changes in assets and liabilities, net of effects from purchase of companies | |||||||
| Decrease in accounts receivable | 6,378 | 15,794 | |||||
| Decrease (Increase) in inventories | 2,057 | (13,167 | ) | ||||
| Net changes in other operating assets and liabilities | (5,137 | ) | (3,573 | ) | |||
| Net cash provided by operating activities | 51,642 | 47,472 | |||||
| Investing activities: | |||||||
| Purchases of property, plant and equipment | (35,184 | ) | (38,530 | ) | |||
| Proceeds from disposal of property and equipment | 421 | 622 | |||||
| Proceeds from insurance for fixed assets | 800 | - | |||||
| Net cash (used in) investing activities | (33,963 | ) | (37,908 | ) | |||
| Financing activities: | |||||||
| Payments to repurchase common stock | (63,981 | ) | (5,000 | ) | |||
| Proceeds from issuance of stock | 1,160 | 2,886 | |||||
| Purchase of vested employee service share units and performance share units | (728 | ) | - | ||||
| Borrowings under credit facility | 75,000 | 15,000 | |||||
| Repayment of borrowings under credit facility | (46,000 | ) | (15,000 | ) | |||
| Payments on finance lease obligations | (249 | ) | (121 | ) | |||
| Payment of cash dividend | (30,760 | ) | (30,371 | ) | |||
| Net cash (used in) financing activities | (65,558 | ) | (32,606 | ) | |||
| Effect of exchange rates on cash and cash equivalents | 1,732 | (1,838 | ) | ||||
| Net (decrease) in cash and cash equivalents | (46,147 | ) | (24,880 | ) | |||
| Cash and cash equivalents at beginning of period | 105,893 | 73,394 | |||||
| Cash and cash equivalents at end of period | $ | 59,746 | $ | 48,514 | |||
| J & J SNACK FOODS CORP. AND SUBSIDIARIES | |||||||||||||||
| NOTES TO CONSOLIDATED FINANCIAL STATEMENTS | |||||||||||||||
| (Unaudited) (in thousands) | |||||||||||||||
| Three months ended | Six months ended | ||||||||||||||
| March 28, | March 29, | March 28, | March 29, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Sales to external customers: | |||||||||||||||
| Food Service | $ | 214,665 | $ | 226,053 | $ | 433,821 | $ | 464,936 | |||||||
| Retail Supermarket | 51,620 | 53,848 | 97,502 | 98,565 | |||||||||||
| Frozen Beverages | 78,534 | 76,198 | 157,274 | 155,196 | |||||||||||
| Consolidated sales to external customers | $ | 344,819 | $ | 356,099 | $ | 688,597 | $ | 718,697 | |||||||
| Operating Income: | |||||||||||||||
| Food Service | $ | 10,855 | $ | 7,465 | $ | 20,954 | $ | 16,279 | |||||||
| Retail Supermarket | (385 | ) | 3,512 | 775 | 4,703 | ||||||||||
| Frozen Beverages | 4,636 | 2,522 | 8,685 | 7,213 | |||||||||||
| Total Segment Operating Income | 15,106 | 13,499 | 30,414 | 28,195 | |||||||||||
| General corporate expenses | 8,547 | 7,476 | 17,905 | 15,933 | |||||||||||
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | (800 | ) | - | ||||||||||
| Plant closure expense | 4,756 | - | 10,869 | - | |||||||||||
| Total Unallocated Operating Expenses (net) | 13,303 | 7,476 | 27,974 | 15,933 | |||||||||||
| Total Operating Income | $ | 1,803 | $ | 6,023 | $ | 2,440 | $ | 12,262 | |||||||
| J & J SNACK FOODS CORP. AND SUBSIDIARIES | ||||||||||||||||
| NON-GAAP FINANCIAL MEASURES | ||||||||||||||||
| (Unaudited) (in thousands) | ||||||||||||||||
| Three months ended | Six months ended | |||||||||||||||
| March 28, | March 29, | March 28, | March 29, | |||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Reconciliation of GAAP Net Earnings to Adjusted EBITDA | ||||||||||||||||
| Net Earnings | $ | 1,677 | $ | 4,824 | $ | 2,560 | $ | 9,967 | ||||||||
| Income Taxes | 656 | 1,803 | 983 | 3,724 | ||||||||||||
| Investment Income | (832 | ) | (689 | ) | (1,544 | ) | (1,726 | ) | ||||||||
| Interest Expense | 302 | 85 | 441 | 297 | ||||||||||||
| Depreciation and Amortization | 18,915 | 17,766 | 37,599 | 35,510 | ||||||||||||
| Share-Based Compensation | 1,652 | 1,627 | 3,131 | 2,752 | ||||||||||||
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | (800 | ) | - | |||||||||||
| Restructuring Costs | 1,244 | 260 | 1,501 | 260 | ||||||||||||
| Non-recurring Legal Expenses | 483 | 591 | 802 | 591 | ||||||||||||
| Net (Gain) Loss on Sale or Disposal of Assets | (175 | ) | (69 | ) | 168 | 77 | ||||||||||
| Plant closure expenses | 4,756 | - | 10,869 | - | ||||||||||||
| Adjusted EBITDA | $ | 28,678 | $ | 26,198 | $ | 55,710 | $ | 51,452 | ||||||||
| Reconciliation of GAAP Operating Income to Adjusted Operating Income | ||||||||||||||||
| Operating Income | $ | 1,803 | $ | 6,023 | $ | 2,440 | $ | 12,262 | ||||||||
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | (800 | ) | - | |||||||||||
| Restructuring Costs | 1,244 | 260 | 1,501 | 260 | ||||||||||||
| Non-recurring Legal Expenses | 483 | 591 | 802 | 591 | ||||||||||||
| Acquisition Related Amortization Expenses | 1,357 | 1,995 | 2,800 | 3,925 | ||||||||||||
| Plant closure expenses | 4,756 | - | 10,869 | - | ||||||||||||
| Adjusted Operating Income | $ | 9,643 | $ | 8,869 | $ | 17,612 | $ | 17,038 | ||||||||
| Reconciliation of GAAP Earnings per Diluted Share to Adjusted Earnings per Diluted Share | ||||||||||||||||
| Earnings per Diluted Share | $ | 0.09 | $ | 0.25 | $ | 0.13 | $ | 0.51 | ||||||||
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | (0.04 | ) | - | |||||||||||
| Restructuring Costs | 0.07 | 0.01 | 0.08 | 0.01 | ||||||||||||
| Non-recurring Legal Expenses | 0.03 | 0.03 | 0.04 | 0.03 | ||||||||||||
| Acquisition Related Amortization Expenses | 0.07 | 0.10 | 0.15 | 0.20 | ||||||||||||
| Plant closure expenses | 0.25 | - | 0.57 | - | ||||||||||||
| Tax Effect of Non-GAAP Adjustments (1) | (0.11 | ) | (0.04 | ) | (0.22 | ) | (0.07 | ) | ||||||||
| Adjusted Earnings per Diluted Share | $ | 0.40 | $ | 0.35 | $ | 0.71 | $ | 0.68 | ||||||||
| (1) Income taxes associated with pre-tax adjustments determined using statutory tax rates | ||||||||||||||||
