J & J Snack Foods Corp. (JJSF) CEO Gerald Shreiber on Q3 2020 Results - Earnings Call Transcript

Jul. 29, 2020 12:24 AM ETJ&J Snack Foods Corp. (JJSF)
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J & J Snack Foods Corp. (NASDAQ:JJSF) Q3 2020 Results Earnings Conference Call July 28, 2020 10:00 AM ET

Company Participants

Gerald Shreiber - Chairman and Chief Executive Officer

Deb Kane - Director of Food Service Safety and Quality Assurance

Dennis Moore - Chief Financial Officer

Dan Fachner - President

Conference Call Participants

Jonathan Andersen - William Blair & Company

Todd Brooks - CL King & Associates

Ashish Mago - Jefferies


Welcome to the J & J Snack Foods Third Quarter Earnings Conference Call. My name is Cheryl, and I will be your operator for today's call. [Operator Instructions].

I will now turn the call over to Gerry Shreiber. Sir, you may begin.

Gerald Shreiber

Good morning, everybody, and welcome to our third quarter conference call. With me today are Bob Radano, our Senior Vice President and Chief Operating Officer; Bob Pape, Senior Vice President of Sales; Marjorie Roshkoff, Vice President, Secretary and In-House Counsel; and remote is Dennis Moore, our Senior Vice President of Finance; and Dan Fachner, President of our J&J Group, but Dan is calling in from Tennessee. I think I got everybody.

Let me begin. I'll begin with the obligatory statements. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. We undertake no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after this date.

Results of operations. Net sales decreased 34% for the quarter. Without sales from the acquisition of two ICEE groups in October 2019 and February 2020, sales decreased 35% for the quarter. We had an operating loss of $19.4 million compared

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