Price Graph
Price
Yield
These terms and conditions govern your use of the website alphaminr.com and its related services.
These Terms and Conditions (“Terms”) are a binding contract between you and Alphaminr, (“Alphaminr”, “we”, “us” and “service”). You must agree to and accept the Terms. These Terms include the provisions in this document as well as those in the Privacy Policy. These terms may be modified at any time.
Your subscription will be on a month to month basis and automatically renew every month. You may terminate your subscription at any time through your account.
We will provide you with advance notice of any change in fees.
You represent that you are of legal age to form a binding contract. You are responsible for any
activity associated with your account. The account can be logged in at only one computer at a
time.
The Services are intended for your own individual use. You shall only use the Services in a
manner that complies with all laws. You may not use any automated software, spider or system to
scrape data from Alphaminr.
Alphaminr is not a financial advisor and does not provide financial advice of any kind. The service is provided “As is”. The materials and information accessible through the Service are solely for informational purposes. While we strive to provide good information and data, we make no guarantee or warranty as to its accuracy.
TO THE EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES SHALL ALPHAMINR BE LIABLE TO YOU FOR DAMAGES OF ANY KIND, INCLUDING DAMAGES FOR INVESTMENT LOSSES, LOSS OF DATA, OR ACCURACY OF DATA, OR FOR ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF (1) FIFTY DOLLARS OR (2) THE AMOUNTS PAID BY YOU TO ALPHAMINR IN THE SIX MONTH PERIOD PRECEDING THIS APPLICABLE CLAIM. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL OR CERTAIN OTHER DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.
If any provision of these Terms is found to be invalid under any applicable law, such provision shall not affect the validity or enforceability of the remaining provisions herein.
This privacy policy describes how we (“Alphaminr”) collect, use, share and protect your personal information when we provide our service (“Service”). This Privacy Policy explains how information is collected about you either directly or indirectly. By using our service, you acknowledge the terms of this Privacy Notice. If you do not agree to the terms of this Privacy Policy, please do not use our Service. You should contact us if you have questions about it. We may modify this Privacy Policy periodically.
When you register for our Service, we collect information from you such as your name, email address and credit card information.
Like many other websites we use “cookies”, which are small text files that are stored on your computer or other device that record your preferences and actions, including how you use the website. You can set your browser or device to refuse all cookies or to alert you when a cookie is being sent. If you delete your cookies, if you opt-out from cookies, some Services may not function properly. We collect information when you use our Service. This includes which pages you visit.
We use Google Analytics and we use Stripe for payment processing. We will not share the information we collect with third parties for promotional purposes. We may share personal information with law enforcement as required or permitted by law.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New
Jersey
|
22-1935537
|
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
|
incorporation
or organization)
|
Identification
No.)
|
|
x
Yes
|
¨
No
|
|
¨
Yes
|
¨
No
|
|
Large
Accelerated filer
¨
|
Accelerated
filer
x
|
|
Non-accelerated
filer
¨
|
Smaller
reporting company
¨
|
|
(Do
not check if a smaller reporting company)
|
|
¨
Yes
|
x
No
|
|
Page
|
||
|
Number
|
||
|
Part
I. Financial Information
|
||
|
Item
l. Consolidated Financial Statements
|
||
|
Consolidated
Balance Sheets – December 26, 2009 (unaudited) and September 26,
2009
|
3
|
|
|
Consolidated
Statements of Earnings (unaudited)- Three Months Ended December 26, 2009
and December 27, 2008
|
5
|
|
|
Consolidated
Statements of Cash Flows(unaudited)– Three Months Ended December 26, 2009
and December 27, 2008
|
6
|
|
|
Notes
to the Consolidated Financial Statements (unaudited)
|
7
|
|
|
Item
2. Management’s Discussion and Analysis of Financial Condition and Results
of Operations
|
22
|
|
|
Item
3. Quantitative and Qualitative Disclosures About Market
Risk
|
25
|
|
|
Item
4. Controls and Procedures
|
25
|
|
|
Part
II. Other Information
|
||
|
Item
6. Exhibits and Reports on Form 8-K
|
26
|
|
December 26,
|
September 26,
|
|||||||
|
2009
|
2009
|
|||||||
|
(Unaudited
)
|
||||||||
|
Current
assets
|
||||||||
|
Cash
and cash equivalents
|
$ | 60,935 | $ | 60,343 | ||||
|
Marketable
securities held to maturity
|
27,664 | 38,653 | ||||||
|
Accounts
receivable, net
|
48,053 | 60,542 | ||||||
|
Inventories,
net
|
53,053 | 46,004 | ||||||
|
Prepaid
expenses and other
|
2,309 | 1,910 | ||||||
|
Deferred
income taxes
|
3,761 | 3,659 | ||||||
| 195,775 | 211,111 | |||||||
|
Property,
plant and equipment, at cost
|
||||||||
|
Land
|
1,416 | 1,416 | ||||||
|
Buildings
|
8,672 | 8,672 | ||||||
|
Plant
machinery and equipment
|
137,603 | 133,758 | ||||||
|
Marketing
equipment
|
206,636 | 202,708 | ||||||
|
Transportation
equipment
|
2,819 | 2,733 | ||||||
|
Office
equipment
|
11,744 | 11,461 | ||||||
|
Improvements
|
19,306 | 18,454 | ||||||
|
Construction
in progress
|
1,631 | 3,954 | ||||||
| 389,827 | 383,156 | |||||||
|
Less
accumulated depreciation and amortization
|
291,129 | 285,983 | ||||||
| 98,698 | 97,173 | |||||||
|
Other
assets
|
||||||||
|
Goodwill
|
60,314 | 60,314 | ||||||
|
Other
intangible assets, net
|
48,001 | 49,125 | ||||||
|
Marketable
securities held to maturity
|
31,039 | 19,994 | ||||||
|
Other
|
1,967 | 2,110 | ||||||
| 141,321 | 131,543 | |||||||
| $ | 435,794 | $ | 439,827 | |||||
|
LIABILITIES AND
|
December 26,
|
September 26,
|
||||||
|
STOCKHOLDERS’ EQUITY
|
2009
|
2009
|
||||||
|
(unaudited)
|
||||||||
|
Current
liabilities
|
||||||||
|
Current
obligations under capital leases
|
$ | 96 | 96 | |||||
|
Accounts
payable
|
44,353 | 48,204 | ||||||
|
Accrued
liabilities
|
10,094 | 5,919 | ||||||
|
Accrued
compensation expense
|
7,341 | 11,656 | ||||||
|
Dividends
payable
|
1,978 | 1,804 | ||||||
| 63,862 | 67,679 | |||||||
|
Long-term
obligations under capital leases
|
261 | 285 | ||||||
|
Deferred
income taxes
|
27,033 | 27,033 | ||||||
|
Other
long-term liabilities
|
1,891 | 1,986 | ||||||
| 29,185 | 29,304 | |||||||
|
Stockholders’
equity
|
||||||||
|
Capital
stock
|
||||||||
|
Preferred,
$1 par value; authorized, 10,000 shares; none issued
|
- | - | ||||||
|
Common,
no par value; authorized 50,000 shares; issued and outstanding, 18,374 and
18,526 shares, respectively
|
36,301 | 41,777 | ||||||
|
Accumulated
other comprehensive loss
|
(3,165 | ) | (3,431 | ) | ||||
|
Retained
earnings
|
309,611 | 304,498 | ||||||
| 342,747 | 342,844 | |||||||
| $ | 435,794 | $ | 439,827 | |||||
|
Three
Months Ended
|
||||||||
|
December 26,
|
December 27,
|
|||||||
|
2009
|
2008
|
|||||||
|
Net
Sales
|
$ | 149,102 | $ | 141,142 | ||||
|
Cost
of goods sold
(1)
|
103,083 | 100,460 | ||||||
|
Gross
profit
|
46,019 | 40,682 | ||||||
|
Operating
expenses
|
||||||||
|
Marketing
(2)
|
16,459 | 16,440 | ||||||
|
Distribution
(3)
|
12,424 | 11,774 | ||||||
|
Administrative
(4)
|
5,654 | 5,613 | ||||||
|
Other
general (income) expense
|
(9 | ) | 24 | |||||
| 34,528 | 33,851 | |||||||
|
Operating
income
|
11,491 | 6,831 | ||||||
|
Other
income (expenses)
|
||||||||
|
Investment
income
|
312 | 461 | ||||||
|
Interest
expense and other
|
(29 | ) | (29 | ) | ||||
|
Earnings
before income taxes
|
11,774 | 7,263 | ||||||
|
Income
taxes
|
4,683 | 2,944 | ||||||
|
NET
EARNINGS
|
$ | 7,091 | $ | 4,319 | ||||
|
Earnings
per diluted share
|
$ | .38 | $ | .23 | ||||
|
Weighted
average number of diluted shares
|
18,717 | 18,774 | ||||||
|
Earnings
per basic share
|
$ | .38 | $ | .23 | ||||
|
Weighted
average number of basic shares
|
18,544 | 18,616 | ||||||
|
(1)
|
Includes
share-based compensation expense of $58 and $79 for the three months ended
December 26, 2009 and December 27, 2008,
respectively.
|
|
(2)
|
Includes
share-based compensation expense of $144 and $261 for the three months
ended December 26, 2009 and December 27, 2008,
respectively.
|
|
(3)
|
Includes
share-based compensation expense of $7 and $8 for the three months ended
December 26, 2009 and December 27, 2008,
respectively.
|
|
(4)
|
Includes
share-based compensation expense of $174 and $255 for the three months
ended December 26, 2009 and December 27, 2008,
respectively.
|
|
Three Months Ended
|
||||||||
|
December 26,
|
December 27,
|
|||||||
|
2009
|
2008
|
|||||||
|
Operating
activities:
|
||||||||
|
Net
earnings
|
$ | 7,091 | $ | 4,319 | ||||
|
Adjustments
to reconcile net earnings to net cash provided by operating
activities:
|
||||||||
|
Depreciation
and amortization of fixed assets
|
5,879 | 5,495 | ||||||
|
Amortization
of intangibles and deferred costs
|
1,271 | 1,276 | ||||||
|
Share-based
compensation
|
383 | 603 | ||||||
|
Deferred
income taxes
|
(100 | ) | (8 | ) | ||||
|
Other
|
23 | (11 | ) | |||||
|
Changes
in assets and liabilities, net of effects from purchase of
companies
|
||||||||
|
Decrease
in accounts receivable
|
12,531 | 11,968 | ||||||
|
Increase
in inventories
|
(7,028 | ) | (1,387 | ) | ||||
|
Increase
in prepaid expenses
|
(396 | ) | (381 | ) | ||||
|
Decrease
in accounts payable and accrued liabilities
|
(4,139 | ) | (8,921 | ) | ||||
|
Net
cash provided by operating activities
|
15,515 | 12,953 | ||||||
|
Investing
activities:
|
||||||||
|
Purchase
of property, plant and equipment
|
(7,450 | ) | (4,496 | ) | ||||
|
Purchase
of marketable securities
|
(22,496 | ) | (16,135 | ) | ||||
|
Proceeds
from redemption and sales of marketable securities
|
22,440 | 190 | ||||||
|
Proceeds
from redemption and sales of auction market preferred
stock
|
- | 15,300 | ||||||
|
Proceeds
from disposal of property and equipment
|
89 | 71 | ||||||
|
Other
|
(3 | ) | 2 | |||||
|
Net
cash used in investing activities
|
(7,420 | ) | (5,068 | ) | ||||
|
Financing
activities:
|
||||||||
|
Payments
to repurchase common stock
|
(5,894 | ) | (12,510 | ) | ||||
|
Proceeds
from issuance of common stock
|
36 | 126 | ||||||
|
Payments
on capitalized lease obligations
|
(24 | ) | (23 | ) | ||||
|
Payments
of cash dividend
|
(1,804 | ) | (1,732 | ) | ||||
|
Net
cash used in financing activities
|
(7,686 | ) | (14,139 | ) | ||||
|
Effect
of exchange rate on cash and cash equivalents
|
183 | (983 | ) | |||||
|
Net
increase (decrease) in cash and cash equivalents
|
592 | (7,237 | ) | |||||
|
Cash
and cash equivalents at beginning of period
|
60,343 | 44,265 | ||||||
|
Cash
and cash equivalents at end of period
|
$ | 60,935 | $ | 37,028 | ||||
|
Note 1
|
In
the opinion of management, the accompanying unaudited consolidated
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to present fairly the financial position
and the results of operations and cash flows. Certain prior
year amounts have been reclassified to conform to the current period
presentation. These reclassifications had no effect on reported
net earnings.
|
|
|
The
results of operations for the three months ended December 26, 2009 and
December 27, 2008 are not necessarily indicative of results for the full
year. Sales of our frozen beverages and frozen
juice bars and ices are generally higher in the third and fourth quarters
due to warmer weather.
|
|
|
While
we believe that the disclosures presented are adequate to make the
information not misleading, it is suggested that these consolidated
financial statements be read in conjunction with the consolidated
financial statements and the notes included in our Annual Report on Form
10-K for the fiscal year ended September 26,
2009.
|
|
Note
2
|
We
recognize revenue from our products when the products are shipped to our
customers and when equipment service is performed for our customers who
are charged on a time and material basis. We also sell
equipment service contracts with terms of coverage ranging between 12 and
60 months. We record deferred income on equipment service
contracts which is amortized by the straight-line method over the term of
the contracts. Revenue is recognized only where persuasive
evidence of an arrangement exists, our price is fixed or determinable and
collectability is reasonably assured. We record offsets to
revenue for allowances, end-user pricing adjustments, trade spending,
coupon redemption costs and returned product. Customers
generally do not have the right to return product unless it is damaged or
defective. We provide an allowance for doubtful receivables
after taking into consideration historical experience and other
factors. The allowance for doubtful receivables was $679,000
and $623,000 at December 27, 2009 and September 26, 2009,
respectively.
|
|
Note
3
|
Depreciation
of equipment and buildings is provided for by the straight-line method
over the assets’ estimated useful lives. Amortization of improvements is
provided for by the straight-line method over the term of the lease or the
assets’ estimated useful lives, whichever is shorter.
Licenses and rights,
customer relationships and non compete agreements arising from
acquisitions are amortized by the straight-line method over periods
ranging from 3 to 20 years.
|
|
Note
4
|
Basic
earnings per common share (EPS) excludes dilution and is computed by
dividing income available to common shareholders by the weighted average
common shares outstanding during the period. Diluted EPS takes
into consideration the potential dilution that could occur if securities
(stock options) or other contracts to issue common stock were exercised
and converted into common stock. Our calculation of EPS is as
follows:
|
|
Three Months Ended December 26, 2009
|
||||||||||||
|
Income
|
Shares
|
Per Share
|
||||||||||
|
(Numerator)
|
(Denominator)
|
Amount
|
||||||||||
|
(in thousands, except per share amounts)
|
||||||||||||
|
Basic
EPS
|
||||||||||||
|
Net
Earnings available to common stockholders
|
$ | 7,091 | 18,544 | $ | .38 | |||||||
|
Effect
of Dilutive Securities
|
||||||||||||
|
Options
|
- | 173 | - | |||||||||
|
Diluted
EPS
|
||||||||||||
|
Net
Earnings available to common stockholders plus
assumed
conversions
|
$ | 7,091 | 18,717 | $ | .38 | |||||||
|
Three Months Ended December 27, 2008
|
||||||||||||
|
Income
|
Shares
|
Per Share
|
||||||||||
|
(Numerator)
|
(Denominator)
|
Amount
|
||||||||||
|
(in thousands, except per share amounts)
|
||||||||||||
|
Basic
EPS
|
||||||||||||
|
Net
Earnings available to common stockholders
|
$ | 4,319 | 18,616 | $ | .23 | |||||||
|
Effect
of Dilutive Securities
|
||||||||||||
|
Options
|
- | 158 | - | |||||||||
|
Diluted
EPS
|
||||||||||||
|
Net Earnings
available to
common stockholders plus assumed
conversions
|
$ | 4,319 | 18,774 | $ | .23 | |||||||
|
Note
5
|
Our
calculation of comprehensive income is as
follows:
|
|
Three months ended
|
||||||||
|
December 26,
|
December 27,
|
|||||||
|
2009
|
2008
|
|||||||
|
(in thousands)
|
||||||||
|
Net
earnings
|
$ | 7,091 | $ | 4,319 | ||||
|
Foreign
currency translation adjustment
|
266 | (1,437 | ) | |||||
|
Comprehensive
income
|
$ | 7,357 | $ | 2,882 | ||||
|
Note
6
|
At
December 26, 2009, the Company has three stock-based employee compensation
plans. Share-based compensation was recognized as
follows:
|
|
Three months ended
|
||||||||
|
December 26,
|
December 27,
|
|||||||
|
2009
|
2008
|
|||||||
|
(in thousands, except per share amounts)
|
||||||||
|
Stock
Options
|
$ | 219 | $ | 306 | ||||
|
Stock
purchase plan
|
67 | 144 | ||||||
|
Deferred
stock issued to outside directors
|
35 | 35 | ||||||
|
Restricted
stock issued to an employee
|
10 | 25 | ||||||
| $ | 331 | $ | 510 | |||||
|
Per
diluted share
|
$ | .02 | $ | .03 | ||||
|
The
above compensation is net of tax benefits
|
$ | 52 | $ | 93 | ||||
|
Note
7
|
We
account for our income taxes under the liability method. Under the
liability method, deferred tax assets and liabilities are determined based
on the difference between the financial statement and tax bases of assets
and liabilities as measured by the enacted tax rates that will be in
effect when these differences reverse. Deferred tax expense is the
result of changes in deferred tax assets and
liabilities.
|
|
|
Additionally,
we recognize a liability for income taxes and associated penalties and
interest for tax positions taken or expected to be taken in a tax
return which are more likely than not to be overturned by taxing
authorities (“uncertain tax positions”). We have not recognized
a tax benefit in our financial statements for these uncertain tax
positions.
|
|
Note 8
|
In
December 2007, the FASB issued guidance expanding
the
definition of a business combination and
requiring the fair
value of the purchase price of an acquisition, including the issuance of
equity securities, to be determined on the acquisition date. The guidance
also requires that
all assets, liabilities, contingent
considerations, and contingencies of an acquired business be recorded at
fair value at the acquisition date. In addition, the guidance requires
that acquisition costs generally be expensed in the period incurred and
changes in accounting for deferred tax asset valuation allowances and
acquired income tax uncertainties after the measurement period to impact
income tax expense. The effect of this guidance on our consolidated
financial statements will depend upon the nature, terms and size of any
acquisitions consummated in fiscal year 2010 or
later.
|
|
Note 9
|
Inventories
consist of the following:
|
|
December 26,
|
September 26,
|
|||||||
|
2009
|
2009
|
|||||||
|
(unaudited)
|
||||||||
|
(in
thousands)
|
||||||||
|
Finished
goods
|
$ | 25,458 | $ | 19,913 | ||||
|
Raw
materials
|
9,389 | 8,060 | ||||||
|
Packaging
materials
|
5,290 | 5,141 | ||||||
|
Equipment
parts & other
|
12,916 | 12,890 | ||||||
| $ | 53,053 | $ | 46,004 | |||||
|
The
above inventories are net of reserves
|
$ | 4,307 | $ | 4,209 | ||||
|
Note
10
|
We principally sell
our products to the food service and retail supermarket
industries. We also distribute our products directly to the
consumer
through our chain of retail stores referred to as The
Restaurant Group. Sales and results of our
frozen beverages business are monitored separately from the
balance of our food service business and restaurant group because of
different distribution and capital requirements. We maintain
separate and discrete financial information for the four operating
segments mentioned above which is available to our Chief Operating
Decision Makers. We have applied no aggregate criteria to any
of these operating segments in order to determine reportable segments. Our
four reportable segments are Food Service, Retail Supermarkets, The
Restaurant Group and Frozen Beverages. All inter-segment net
sales and expenses have been eliminated in computing net sales and
operating income (loss). These segments are described
below.
|
|
Three Months Ended
|
||||||||
|
December 26,
|
December 27,
|
|||||||
|
2009
|
2008
|
|||||||
|
(unaudited)
|
||||||||
|
(in
thousands)
|
||||||||
|
Sales
to external customers:
|
||||||||
|
Food
Service
|
$ | 101,261 | $ | 97,535 | ||||
|
Retail
Supermarket
|
12,620 | 10,033 | ||||||
|
The
Restaurant Group
|
322 | 433 | ||||||
|
Frozen
Beverages
|
34,899 | 33,141 | ||||||
| $ | 149,102 | $ | 141,142 | |||||
|
Depreciation
and Amortization:
|
||||||||
|
Food
Service
|
$ | 4,161 | $ | 4,064 | ||||
|
Retail
Supermarket
|
- | - | ||||||
|
The
Restaurant Group
|
8 | 9 | ||||||
|
Frozen
Beverages
|
2,981 | 2,698 | ||||||
| $ | 7,150 | $ | 6,771 | |||||
|
Operating
Income(Loss):
|
||||||||
|
Food
Service
|
$ | 10,472 | $ | 7,281 | ||||
|
Retail
Supermarket
|
1,753 | 1,101 | ||||||
|
The
Restaurant Group
|
21 | 38 | ||||||
|
Frozen
Beverages
|
(755 | ) | (1,589 | ) | ||||
| $ | 11,491 | $ | 6,831 | |||||
|
Capital
Expenditures:
|
||||||||
|
Food
Service
|
$ | 3,173 | $ | 2,750 | ||||
|
Retail
Supermarket
|
- | - | ||||||
|
The
Restaurant Group
|
- | - | ||||||
|
Frozen
Beverages
|
4,277 | 1,746 | ||||||
| $ | 7,450 | $ | 4,496 | |||||
|
Assets:
|
||||||||
|
Food
Service
|
$ | 306,302 | $ | 260,894 | ||||
|
Retail
Supermarket
|
2,731 | 2,731 | ||||||
|
The
Restaurant Group
|
591 | 652 | ||||||
|
Frozen
Beverages
|
126,170 | 124,254 | ||||||
| $ | 435,794 | $ | 388,531 | |||||
|
Note
11
|
Our
four reporting units, which are also reportable segments, are Food
Service, Retail Supermarkets, The Restaurant Group and Frozen
Beverages.
|
|
Gross
|
Net
|
|||||||||||
|
Carrying
|
Accumulated
|
Carrying
|
||||||||||
|
Amount
|
Amortization
|
Amount
|
||||||||||
|
(in thousands)
|
||||||||||||
|
FOOD
SERVICE
|
||||||||||||
|
Indefinite
lived intangible assets
|
||||||||||||
|
Trade
Names
|
$ | 8,180 | $ | - | $ | 8,180 | ||||||
|
Amortized
intangible assets
|
||||||||||||
|
Non
compete agreements
|
435 | 299 | 136 | |||||||||
|
Customer
relationships
|
33,287 | 12,386 | 20,901 | |||||||||
|
Licenses
and rights
|
3,606 | 2,117 | 1,489 | |||||||||
| $ | 45,508 | $ | 14,802 | $ | 30,706 | |||||||
|
RETAIL
SUPERMARKETS
|
||||||||||||
|
Indefinite
lived intangible assets
|
||||||||||||
|
Trade
Names
|
$ | 2,731 | $ | - | $ | 2,731 | ||||||
|
THE
RESTAURANT GROUP
|
||||||||||||
|
Amortized
intangible assets
|
||||||||||||
|
Licenses
and rights
|
$ | - | $ | - | $ | - | ||||||
|
FROZEN
BEVERAGES
|
||||||||||||
|
Indefinite
lived intangible assets
|
||||||||||||
|
Trade
Names
|
$ | 9,315 | $ | - | $ | 9,315 | ||||||
|
Amortized
intangible assets
|
||||||||||||
|
Non
compete agreements
|
148 | 148 | - | |||||||||
|
Customer
relationships
|
6,478 | 2,378 | 4,100 | |||||||||
|
Licenses
and rights
|
1,601 | 452 | 1,149 | |||||||||
| $ | 17,542 | $ | 2,978 | $ | 14,564 | |||||||
|
Food
|
Retail
|
Restaurant
|
Frozen
|
|||||||||||||||||
|
Service
|
Supermarket
|
Group
|
Beverages
|
Total
|
||||||||||||||||
|
(in
thousands)
|
||||||||||||||||||||
|
Balance
at December 26, 2009
|
$ | 23,988 | $ | - | $ | 386 | $ | 35,940 | $ | 60,314 | ||||||||||
|
Note
12
|
We
have classified our investment securities as marketable securities held to
maturity and auction market preferred stock (AMPS). The FASB
defines fair value as the price that would be received from selling an
asset or paid to transfer a liability in an orderly transaction between
market participants. As such, fair value is a market-based measurement
that should be determined based on assumptions that market participants
would use in pricing an asset or liability. As a basis for considering
such assumptions, the FASB has established three levels of inputs that may
be used to measure fair value:
|
|
Level
1
|
Observable
inputs such as quoted prices in active markets for identical assets or
liabilities;
|
|
Level
2
|
Observable
inputs, other than Level 1 inputs in active markets, that are observable
either directly or indirectly; and
|
|
Level
3
|
Unobservable
inputs for which there is little or no market data, which require the
reporting entity to develop its own
assumptions.
|
|
|
Gross
|
Gross
|
Fair
|
|||||||||||||
|
Amortized
|
Unrealized
|
Unrealized
|
Market
|
|||||||||||||
|
Cost
|
Gains
|
Losses
|
Value
|
|||||||||||||
|
(in
thousands)
|
||||||||||||||||
|
US
Government Agency Debt
|
$ | 9,006 | $ | 7 | $ | 60 | $ | 8,953 | ||||||||
|
FDIC
Backed Corporate Debt
|
13,186 | 179 | - | 13,365 | ||||||||||||
|
Certificates
of Deposit
|
36,511 | 9 | 3 | 36,517 | ||||||||||||
| $ | 58,703 | $ | 195 | $ | 63 | $ | 58,835 | |||||||||
|
Gross
|
Gross
|
Fair
|
||||||||||||||
|
Amortized
|
Unrealized
|
Unrealized
|
Market
|
|||||||||||||
|
Cost
|
Gains
|
Losses
|
Value
|
|||||||||||||
|
(in
thousands)
|
||||||||||||||||
|
US
Government Agency Debt
|
$ | 6,009 | $ | 22 | $ | 1 | $ | 6,030 | ||||||||
|
FDIC
Backed Corporate Debt
|
13,213 | 198 | - | 13,411 | ||||||||||||
|
Certificates
of Deposit
|
39,425 | 21 | 3 | 39,443 | ||||||||||||
| $ | 58,647 | $ | 241 | $ | 4 | $ | 58,884 | |||||||||
|
December
26, 2009
|
September
26, 2009
|
|||||||||||||||
|
(in
thousands)
|
||||||||||||||||
|
Fair
|
Fair
|
|||||||||||||||
|
Amortized
|
Market
|
Amortized
|
Market
|
|||||||||||||
|
Cost
|
Value
|
Cost
|
Value
|
|||||||||||||
|
Due
in one year or less
|
$ | 31,039 | $ | 31,142 | $ | 38,653 | $ | 38,668 | ||||||||
|
Due
after one year through five years
|
27,664 | 27,693 | 19,994 | 20,216 | ||||||||||||
|
Total
held to maturity securities
|
$ | 58,703 | $ | 58,835 | $ | 58,647 | $ | 58,884 | ||||||||
|
Less
current portion
|
27,664 | 27,693 | 38,653 | 38,668 | ||||||||||||
|
Long
term held to maturity securities
|
$ | 31,039 | $ | 31,142 | $ | 19,994 | $ | 20,216 | ||||||||
|
Note
13
|
Subsequent
events through January 21, 2010 have been evaluated for disclosure and
recognition. We have no subsequent events to
disclose.
|
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market
Risk
|
|
Item
4.
|
Controls
and Procedures
|
|
Item
6.
|
Exhibits
and Reports on Form 8-K
|
|
|
a)
|
Exhibits
|
|
|
31.1
&
31.2
|
Certification
Pursuant to Section 302 of
the
Sarbanes-Oxley Act of 2002
|
|
|
99.5
&
99.6
|
Certification
Pursuant to the 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906
of the Sarbanes-Oxley Act of 2002
|
|
|
b)
|
Reports
on Form 8-K – Reports on Form 8-K were filed on November 3, 2009 and
December 7, 2009.
|
|
J
& J SNACK FOODS CORP.
|
|
|
Dated:
January 21, 2010
|
/s/ Gerald B. Shreiber
|
|
Gerald
B. Shreiber
|
|
|
Chairman
of the Board,
|
|
|
President,
Chief Executive
|
|
|
Officer
and Director
|
|
|
(Principal
Executive Officer)
|
|
Dated: January
21, 2010
|
/s/ Dennis G. Moore
|
|
Dennis
G. Moore, Senior Vice
|
|
|
President,
Chief Financial
|
|
|
Officer
and Director
|
|
|
(Principal
Financial Officer)
|
|
|
(Principal
Accounting Officer)
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|