J&J Snack Foods Corp. announced consolidated unaudited earnings results for the third quarter and nine months ended June 30, 2018. For the quarter, the company reported net sales of $306,239,000 as compared to $295,415,000 a year ago. Operating Income was $34,869,000 as compared to $37,800,000 a year ago. Earnings before income taxes was $36,365,000 as compared to $39,142,000 a year ago. Net Earnings was $26,129,000 as compared to $25,304,000 a year ago. Earnings per basic share were $1.40 as compared to $1.35 a year ago. Capital spending was $17 million in the quarter as the company continues to invest in plant efficiencies and growing business for now and the future.

For the nine months, the company reported net sales of $837,550,000 as compared to $767,498,000 a year ago. Operating Income was $79,638,000 as compared to $81,238,000 a year ago. Earnings before income taxes was $84,592,000 as compared to $84,411,000 a year ago. Net Earnings was $80,211,000 as compared to $54,831,000 a year ago. Earnings per basic share were $4.29 as compared to $2.93 a year ago. Net cash provided by operating activities was $85,287,000 as compared to $83,338,000 a year ago. Purchases of property, plant and equipment was $43,344,000 as compared to $57,151,000 a year ago. Purchases of marketable securities was $65,227,000 as compared to $27,269,000 a year ago. Net earnings for the nine months ended June 30, 2018 benefited from a $20.9 million, or $1.11 per diluted share, gain on the remeasurement of deferred tax liabilities and a $7.4 million, or $0.40 per diluted share, reduction in income taxes related primarily to the lower corporate tax rate enacted under the Tax Cuts and Jobs Act in December 2017.

The company expects an effective tax rate of 28% to 29% for the fourth quarter of 2019.

The company estimates capital spending for the fiscal year 2019 to be about $55 million as several onetime manufacturing projects have been or will shortly be completed. The company expects an effective tax rate of 27% for fiscal year 2019.