J&J Snack Foods (JJSF) 10-Q 28 Jul 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 25, 2016	Jul. 20, 2016
Document Information [Line Items]
Entity Registrant Name	J&J SNACK FOODS CORP
Entity Central Index Key	785,956
Trading Symbol	jjsf
Current Fiscal Year End Date	--09-24
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		18,657,757
Document Type	10-Q
Document Period End Date	Jun. 25, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 25, 2016	Sep. 26, 2015
Land [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	$ 2,496	$ 2,496
Building [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	26,741	26,741
Plant Machinery and Equipment [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	225,055	210,728
Marketing Equipment [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	274,371	266,047
Transportation Equipment [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	7,490	6,866
Office Equipment [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	21,739	20,586
Improvements [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	34,529	28,725
Construction in Progress [Member]
Property, plant and equipment, at cost
Property, plant and equipment gross	4,919	9,486
Cash and cash equivalents	104,321	133,689
Marketable securities held to maturity	9,667
Accounts receivable, net	114,543	102,649
Inventories	94,906	82,657
Prepaid expenses and other	5,109	6,557
Deferred income taxes	3,332	3,266
Total current assets	331,878	328,818
Property, plant and equipment gross	597,340	571,675
Less accumulated depreciation and amortization	414,872	399,621
Property, plant and equipment, net	182,468	172,054
Other assets
Goodwill	86,442	86,442
Other intangible assets, net	41,895	45,819
Marketable securities held to maturity	96,197	66,660
Marketable securities available for sale	29,440	39,638
Other	2,913	3,504
Total other assets	256,887	242,063
Total Assets	771,233	742,935
Current Liabilities
Current obligations under capital leases	363	273
Accounts payable	65,866	59,206
Accrued insurance liability	10,705	10,231
Accrued liabilities	5,587	5,365
Accrued compensation expense	14,608	15,318
Dividends payable	7,257	6,723
Total current liabilities	104,386	97,116
Long-term obligations under capital leases	1,327	1,196
Deferred income taxes	43,657	43,789
Other long-term liabilities	813	915
Stockholders' Equity
Preferred stock, $1 par value; authorized 10,000,000 shares; none issued
Common stock, no par value; authorized, 50,000,000 shares; issued and outstanding 18,618,000 and 18,676,000 respectively	21,756	31,653
Accumulated other comprehensive loss	(13,426)	(10,897)
Retained Earnings	612,720	579,163
Total stockholders' equity	621,050	599,919
Total Liabilities and Stockholders' Equity	$ 771,233	$ 742,935

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 25, 2016	Sep. 26, 2015
Preferred, par value (in dollars per share)	$ 1	$ 1
Preferred, shares authorized (in shares)	10,000,000	10,000,000
Preferred, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	18,618,000	18,676,000
Common stock, shares outstanding (in shares)	18,618,000	18,676,000

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Net Sales		$ 277,981	$ 278,724	$ 730,541	$ 716,484
Cost of goods sold(1)	[1]	185,895	188,328	505,871	498,037
Gross Profit		92,086	90,396	224,670	218,447
Operating expenses
Marketing (2)	[2]	23,721	23,201	63,714	62,674
Distribution (3)	[3]	19,006	20,429	54,784	55,583
Administrative (4)	[4]	8,530	7,910	23,857	22,897
Other general expense		392	45	239	67
Total operating expenses		51,649	51,585	142,594	141,221
Operating Income		40,437	38,811	82,076	77,226
Other income (expense)
Investment income (loss)		981	(53)	3,118	2,579
Interest expense & other		(31)	(34)	(94)	(88)
Earnings before income taxes		41,387	38,724	85,100	79,717
Income taxes		14,596	14,262	29,743	29,362
NET EARNINGS		$ 26,791	$ 24,462	$ 55,357	$ 50,355
Earnings per diluted share (in dollars per share)		$ 1.43	$ 1.30	$ 2.95	$ 2.68
Weighted average number of diluted shares (in shares)		18,705	18,823	18,765	18,815
Earnings per basic share (in dollars per share)		$ 1.44	$ 1.31	$ 2.97	$ 2.70
Weighted average number of basic shares (in shares)		18,615	18,691	18,646	18,683
[1]	Includes share-based compensation expense of $174 and $445 for the three months and nine months ended June 25, 2016, respectively and $134 and $354 for the three months and nine months ended June 27, 2015.
[2]	Includes share-based compensation expense of $264 and $673 for the three months and nine months ended June 25,2016, respectively and $201 and $531 for the three months and nine months ended June 27, 2015.
[3]	Includes share-based compensation expense of $13 and $35 for the three months and nine months ended June 25, 2016, respectively and $12 and $33 for the three months and nine months ended June 27, 2015.
[4]	Includes share-based compensation expense of $228 and $581 for the three months and nine months ended June 25, 2016, respectively and $269 and $707 for the three months and nine months ended June 27, 2015.

Consolidated Statements of Ear5

Consolidated Statements of Earnings (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Cost of Goods Sold [Member]
Allocated share-based compensation	$ 174	$ 134	$ 445	$ 354
Marketing [Member]
Allocated share-based compensation	264	201	673	531
Distribution [Member]
Allocated share-based compensation	13	12	35	33
Administrative [Member]
Allocated share-based compensation	$ 228	$ 269	$ 581	$ 707

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Net earnings	$ 26,791	$ 24,462	$ 55,357	$ 50,355
Foreign currency translation adjustments	(1,387)	(420)	(2,067)	(3,289)
Unrealized holding gain (loss) on marketable securities	640	371	(462)	(1,018)
Total Other Comprehensive Income (loss)	(747)	(49)	(2,529)	(4,307)
Comprehensive Income	$ 26,044	$ 24,413	$ 52,828	$ 46,048

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Operating activities:
Net earnings	$ 55,357,000	$ 50,355,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of fixed assets	25,526,000	24,013,000
Amortization of intangibles and deferred costs	4,304,000	4,445,000
Share-based compensation	1,735,000	1,625,000
Deferred income taxes	(172,000)	(131,000)
Loss on sale of marketable securities	582,000	1,904,000
Other	493,000	(255,000)
Changes in assets and liabilities net of effects from purchase of companies
Increase in accounts receivable	(11,984,000)	(15,821,000)
Increase in inventories	(12,478,000)	(8,052,000)
Decrease (increase) in prepaid expenses	1,419,000	(511,000)
Increase in accounts payable and accrued liabilities	6,566,000	8,980,000
Net cash provided by operating activities	71,348,000	66,552,000
Investing activities:
Payment for purchases of companies, net of cash acquired		(615,000)
Purchases of property, plant and equipment	(37,221,000)	(34,180,000)
Purchases of marketable securities	(41,786,000)	(16,126,000)
Proceeds from Sale and Maturity of Marketable Securities	11,008,000	39,968,000
Proceeds from disposal of property and equipment	1,578,000	1,322,000
Other	308,000	(167,000)
Net cash used in investing activities	(66,113,000)	(9,798,000)
Financing activities:
Payments to repurchase common stock	(15,265,000)	(2,114,000)
Proceeds from issuance of stock	3,634,000	2,174,000
Payments on capitalized lease obligations	(265,000)	(176,000)
Payment of cash dividend	(21,267,000)	(19,425,000)
Net cash used in financing activities	(33,163,000)	(19,541,000)
Effect of exchange rate on cash and cash equivalents	(1,440,000)	(2,425,000)
Net (decrease) increase in cash and cash equivalents	(29,368,000)	34,788,000
Cash and cash equivalents at beginning of period	133,689,000	91,760,000
Cash and cash equivalents at end of period	$ 104,321,000	$ 126,548,000

Note 1

Note 1	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended September 26, 2015 . 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 June 25, 2016 and June 27, 2015 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 the Company’s Annual Report on Form 10-K for the fiscal year ended September 26, 2015.

Note 2

Note 2	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Revenue [Text Block]	Note 2 We recognize revenue from our products when the products are shipped to our customers. Repair and maintenance equipment service revenue is recorded when it is performed provided the customer terms are that the customer is to be charged on a time and material basis or on a straight-line basis over the term of the contract when the customer has signed a service contract. Revenue is recognized only where persuasive evidence of an arrangement exists, our price is fixed or estimable 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 $655,000 and $304,000 at June 25, 2016 and September 26, 2015, respectively.

Note 3

Note 3	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	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. Depreciation expense was $8,765,000 and $8,026,000 for the three months ended June 25, 2016 and June 27, 2015, respectively, and for the nine months ended June 25, 2016 and June 27, 2015 was $25,526,000 and $24,013,000, respectively.

Note 4

Note 4	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	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 June 25, 2016 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 26,791 18,615 $ 1.44 Effect of Dilutive Securities Options - 90 (0.01 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 26,791 18,705 $ 1.43 189,170 anti-dilutive shares have been excluded in the computation of EPS for the three months ended June 25, 2016. Nine Months Ended June 25, 2016 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 55,357 18,646 $ 2.97 Effect of Dilutive Securities Options - 119 (0.02 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 55,357 18,765 $ 2.95 189,670 anti-dilutive shares have been excluded in the computation of EPS for the nine months ended June 25, 2016. Three Months Ended June 27, 2015 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 24,462 18,691 $ 1.31 Effect of Dilutive Securities Options - 132 (0.01 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 24,462 18,823 $ 1.30 Nine Months Ended June 27, 2015 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 50,355 18,683 $ 2.70 Effect of Dilutive Securities Options - 132 (0.02 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 50,355 18,815 $ 2.68

Note 5

Note 5	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	Note 5 At June 25, 2016, the Company has three stock-based employee compensation plans. Share-based compensation expense (benefit) was recognized as follows: Three months ended Nine months ended June 25, June 27, June 25, June 27, 2016 2015 2016 2015 (in thousands, except per share amounts) Stock Options $ 112 $ 439 $ 56 $ 987 Stock purchase plan 96 77 248 274 Restricted stock issued to an employee 1 1 3 4 Total share-based compensation $ 209 $ 517 $ 307 $ 1,265 The above compensation is net of tax benefits $ 470 $ 99 $ 1,427 $ 360 Income tax benefit related to share-based compensation for the three months ended December 26, 2015 has been revised to $674,000 from $175,000 as a result of our early adoption as of our fiscal March 2016 quarter of Accounting Standards Update NO. 2016-09, Improvements to Employee Share-Based Payment Accounting. Under this new standard, the $499,000 increase of first quarter income tax benefit was recognized via a reduction of amounts previously recorded as additional paid in capital upon exercise of stock options. In the fiscal quarters ended in March 2016 and June 2016, we realized tax benefits of $89,000 and $163,000; respectively, upon similar exercises of stock options. The Company anticipates that share-based compensation for 2016 will not exceed $800,000 net of tax benefits. The fair value of each option grant is estimated on the date of grant using the Black-Scholes options-pricing model with the following weighted average assumptions used for grants in fiscal 2016 first nine months: expected volatility of 15.9%; risk-free interest rate of 1.2%; dividend rate of 1.4% and expected lives of 5 years. During the 2016 nine month period, the Company granted 159,170 stock options. The weighted-average grant date fair value of these options was $13.94. During the 2015 nine month period, the Company granted 148,840 stock options. The weighted-average grant date fair value of these options was $15.23. Expected volatility is based on the historical volatility of the price of our common shares over the past 49 months for 5 year options and 10 years for 10 year options. We use historical information to estimate expected life and forfeitures within the valuation model. The expected term of awards represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation cost is recognized using a straight-line method over the vesting or service period and is net of estimated forfeitures.

Note 6

Note 6	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 6 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. The total amount of gross unrecognized tax benefits is $349,000 and $334,000 on June 25, 2016 and September 26, 2015, respectively, all of which would impact our effective tax rate over time, if recognized. We recognize interest and penalties related to income tax matters as a part of the provision for income taxes. As of June 25, 2016 and September 26, 2015, respectively, the Company has $214,000 and $199,000 of accrued interest and penalties.

Note 7

Note 7	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 7 In May 2014, the FASB issued guidance on revenue recognition which says that we should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration which we expect to be entitled in exchange for those goods or services. This guidance is effective for our fiscal year ending September 2019. Early application is permitted. We anticipate that the impact of this guidance on our consolidated financial statements will not be material. In July 2015, the FASB issued guidance which requires an entity to measure inventory at the lower of cost or net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This guidance will simplify the subsequent measurement of inventory, as current guidance requires an entity to measure inventory at the lower of cost or market. Under current guidance, market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. This guidance is effective for our fiscal year ended September 2018. Early adoption is permitted. The adoption of this guidance in the December quarter did not have a material impact on our consolidated financial statements. In September 2015, the FASB issued guidance on accounting for business combinations which require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. This guidance eliminates the requirement to retrospectively account for these adjustments. This guidance is effective for our fiscal year ended September 2018. Early adoption is permitted. This guidance did not impact amounts and disclosures related to previous business combinations; therefore, the adoption of this guidance in the December quarter did not impact our consolidated financial statements. In November 2015, the FASB issued guidance on the balance sheet classification of deferred taxes which eliminates the current requirement to present deferred tax assets and liabilities as current and noncurrent in a classified balance sheet and now requires entities to classify all deferred tax assets and liabilities as noncurrent. This guidance is effective for our fiscal year ended September 2018. Early adoption is permitted. We anticipate that the impact on our financial statements will be inconsequential. In January 2016, the FASB issued guidance which requires an entity to measure equity investments at fair value with changes in fair value recognized in net income , to use the price that would be received by a seller when measuring the fair value of financial instruments for disclosure purposes, and which eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. Under present guidance, changes in fair value of equity investments are recognized in Stockholder’s Equity. This guidance is effective for our fiscal year ended September 2019. Early adoption is not permitted. We do not anticipate that the adoption of this new guidance will have a material impact on our consolidated financial statements. In February 2016, the FASB issued guidance on lease accounting which requires that an entity recognize most leases on its balance sheet. The guidance retains a dual lease accounting model for purposes of income statement recognition, continuing the distinction between what are currently known as “capital” and “operating” leases for lessees. This guidance is effective for our fiscal year ended September 2020. We anticipate that the impact of this guidance on our financial statements will be material . In March 2016, the FASB issued guidance on share based compensation which requires that an entity recognize all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement as discrete items in the reporting period in which they occur. Under current guidance, excess tax benefits are recognized in additional paid-in capital and tax deficiencies are recognized either as an offset to accumulated excess tax benefits, or in the income statement. This guidance is effective for our fiscal year ended September 2018. Early adoption is permitted. See Note 5 to these financial statements for a discussion of the impact the adoption of this guidance in our March 2016 quarter had on our consolidated financial statements.

Note 8

Note 8	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 8 Inventories consist of the following: June 25, September 26, 2016 2015 (unaudited) (in thousands) Finished goods $ 41,991 $ 34,258 Raw Materials 20,077 17,000 Packaging materials 6,845 5,949 Equipment parts & other 25,993 25,450 Total Inventories $ 94,906 $ 82,657

Note 9

Note 9	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 9 We principally sell our products to the food service and retail supermarket industries. Sales and results of our frozen beverages business are monitored separately from the balance of our food service business because of different distribution and capital requirements. We maintain separate and discrete financial information for the three operating segments mentioned above which is available to our Chief Operating Decision Makers. Our three reportable segments are Food Service, Retail Supermarkets 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 Food Service The primary products sold by the food service group are soft pretzels, frozen juice treats and desserts, churros, dough enrobed handheld products and baked goods. Our customers in the food service industry include snack bars and food stands in chain, department and discount stores; malls and shopping centers; fast food outlets; stadiums and sports arenas; leisure and Retail Supermarkets The primary products sold to the retail supermarket channel are soft pretzel products – including SUPERPRETZEL, frozen juice treats and desserts including LUIGI’S Real Italian Ice, MINUTE MAID Juice Bars and Soft Frozen Lemonade, WHOLE FRUIT frozen fruit bars and sorbet, PHILLY SWIRL cups and sticks, ICEE Squeeze-Up Tubes and dough enrobed handheld products including PATIO burritos. Within the retail supermarket channel, our frozen and prepackaged products are purchased by the consumer for consumption at home. Frozen Beverages We sell frozen beverages and related products to the food service industry primarily under the names ICEE, SLUSH PUPPIE and PARROT ICE in the United States, Mexico and Canada. We also provide repair and maintenance service to customers for customers’ owned equipment. The Chief Operating Decision Maker for Food Service and Retail Supermarkets and the Chief Operating Decision Maker for Frozen Beverages monthly review detailed operating income statements and sales reports in order to assess performance and allocate resources to each individual segment. In addition, the Chief Operating Decision Makers review and evaluate depreciation, capital spending and assets of each segment on a quarterly basis to monitor cash flow and asset needs of each segment. Information regarding the operations in these three reportable segments is as follows: Three months ended Nine months ended June 25, June 27, June 25, June 27, 2016 2015 2016 2015 (unaudited) (in thousands) Sales to External Customers: Food Service Soft pretzels $ 44,410 $ 42,920 $ 125,943 $ 124,737 Frozen juices and ices 18,564 19,331 37,850 38,604 Churros 15,819 14,979 43,452 42,568 Handhelds 7,047 5,853 20,371 16,055 Bakery 74,475 79,643 221,500 224,865 Other 8,833 4,522 15,507 9,242 Total Food Service $ 169,148 $ 167,248 $ 464,623 $ 456,071 Retail Supermarket Soft pretzels $ 7,136 $ 7,431 $ 25,611 $ 27,460 Frozen juices and ices 26,038 29,421 48,009 52,298 Handhelds 3,813 4,667 11,121 14,115 Coupon redemption (826 ) (811 ) (1,911 ) (2,811 ) Other 852 420 2,143 986 Total Retail Supermarket $ 37,013 $ 41,128 $ 84,973 $ 92,048 Frozen Beverages Beverages $ 44,352 $ 44,990 $ 102,966 $ 99,278 Repair and maintenance service 18,398 17,270 53,105 48,303 Machines sales 8,942 7,696 23,911 19,771 Other 128 392 963 1,013 Total Frozen Beverages $ 71,820 $ 70,348 $ 180,945 $ 168,365 Consolidated Sales $ 277,981 $ 278,724 $ 730,541 $ 716,484 Depreciation and Amortization: Food Service $ 5,777 $ 5,267 $ 16,846 $ 15,782 Retail Supermarket 288 283 862 849 Frozen Beverages 4,095 4,052 12,122 11,827 Total Depreciation and Amortization $ 10,160 $ 9,602 $ 29,830 $ 28,458 Operating Income: Food Service $ 24,619 $ 20,479 $ 59,041 $ 51,621 Retail Supermarket 4,266 6,406 7,825 9,607 Frozen Beverages 11,552 11,926 15,210 15,998 Total Operating Income $ 40,437 $ 38,811 $ 82,076 $ 77,226 Capital Expenditures: Food Service $ 5,961 $ 9,315 $ 19,470 $ 20,065 Retail Supermarket 140 - 339 62 Frozen Beverages 7,385 6,932 17,412 14,053 Total Capital Expenditures $ 13,486 $ 16,247 $ 37,221 $ 34,180 Assets: Food Service $ 563,571 $ 541,314 $ 563,571 $ 541,314 Retail Supermarket 26,110 26,711 26,110 26,711 Frozen Beverages 181,552 174,901 181,552 174,901 Total Assets $ 771,233 $ 742,926 $ 771,233 $ 742,926

Note 10

Note 10	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	Note 10 Our three reporting units, which are also reportable segments, are Food Service, Retail Supermarkets and Frozen Beverages. The carrying amounts of acquired intangible assets for the Food Service, Retail Supermarkets and Frozen Beverage segments as of June 25, 2016 and September 26, 2015 are as follows: June 25, 2016 September 26, 2015 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (in thousands) FOOD SERVICE Indefinite lived intangible assets Trade Names $ 13,072 $ - $ 13,072 $ - Amortized intangible assets Non compete agreements 592 557 592 538 Customer relationships 40,797 36,296 40,797 33,584 License and rights 3,606 2,869 3,606 2,802 TOTAL FOOD SERVICE $ 58,067 $ 39,722 $ 58,067 $ 36,924 RETAIL SUPERMARKETS Indefinite lived intangible assets Trade Names $ 7,206 $ - $ 7,206 $ - Amortized Intangible Assets Non compete agreements 160 160 160 114 Customer relationships 7,979 1,821 7,979 1,220 TOTAL RETAIL SUPERMARKETS $ 15,345 $ 1,981 $ 15,345 $ 1,334 FROZEN BEVERAGES Indefinite lived intangible assets Trade Names $ 9,315 $ - $ 9,315 $ - Amortized intangible assets Non compete agreements 198 198 198 198 Customer relationships 6,678 6,501 6,678 6,075 Licenses and rights 1,601 907 1,601 854 TOTAL FROZEN BEVERAGES $ 17,792 $ 7,606 $ 17,792 $ 7,127 CONSOLIDATED $ 91,204 $ 49,309 $ 91,204 $ 45,385 Amortized intangible assets are being amortized by the straight-line method over periods ranging from 3 to 20 years and amortization expense is reflected throughout operating expenses. There were no intangible assets acquired in the three and nine months ended June 25, 2016. Aggregate amortization expense of intangible assets for the three months ended June 25, 2016 and June 27, 2015 was $1,267,000 and $1,332,000, respectively and for the nine months ended June 25, 2016 and June 27, 2015 was $3,924,000 and $4,039,000, respectively. Estimated amortization expense for the next five fiscal years is approximately $5,100,000 in 2016, $2,600,000 in 2017, $1,800,000 in 2018, $1,700,000 in 2019 and $1,400,000 in 2020. The weighted average amortization period of the intangible assets is 10.0 years. Goodwill The carrying amounts of goodwill for the Food Service, Retail Supermarket and Frozen Beverage segments are as follows: Food Retail Frozen Service Supermarket Beverages Total (in thousands) Balance at June 25, 2016 $ 46,832 $ 3,670 $ 35,940 $ 86,442 Balance at September 26, 2015 $ 46,832 $ 3,670 $ 35,940 $ 86,442 There was no goodwill acquired in the three and nine months ended June 25, 2016.

Note 11

Note 11	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 11 We have classified our investment securities as marketable securities held to maturity and available for sale. 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 input 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. Marketable securities held to maturity and available for sale consist primarily of investments in mutual funds, preferred stock and corporate bonds. The fair values of mutual funds are based on quoted market prices in active markets and are classified within Level 1 of the fair value hierarchy. The fair values of preferred stock and corporate bonds are based on quoted prices for identical or similar instruments in markets that are not active. As a result, preferred stock and corporate bonds are classified within Level 2 of the fair value hierarchy. The amortized cost, unrealized gains and losses, and fair market values of our investment securities held to maturity at June 25, 2016 are summarized as follows: Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Corporate Bonds $ 104,904 $ 594 $ 418 $ 105,080 Certificates of Deposit 960 11 - 971 Total investment securities held to maturity $ 105,864 $ 605 $ 418 $ 106,051 The amortized cost, unrealized gains and losses, and fair market values of our investment securities available for sale at June 25, 2016 are summarized as follows: Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Mutual Funds $ 13,987 $ - $ 884 $ 13,103 Preferred Stock 16,791 25 479 16,337 Total investment securities available for sale $ 30,778 $ 25 $ 1,363 $ 29,440 The mutual funds seek current income with an emphasis on maintaining low volatility and overall moderate duration. The unrealized losses of $884,000 are spread over 4 funds with total fair market value of $13.1 million. The Fixed-to-Floating Perpetual Preferred Stock generate fixed income to call dates in 2018, 2019 and 2025 and then income is based on a spread above LIBOR if the securities are not called. The unrealized losses of $479,000 on the Preferred Stock are spread over 12 holdings with fair market value of $14.8 million. The mutual funds and Fixed-to-Floating Perpetual Preferred Stock do not have contractual maturities; however, we classify them as long term assets as it is our intent to hold them for a period of over one year, although we may sell some or all of them depending on presently unanticipated needs for liquidity or market conditions. The corporate bonds generate fixed income to maturity dates in 2017 through 2021, with $85 million maturing within 3 years. Our expectation is that we will hold the corporate bonds to their maturity dates and redeem them at our amortized cost. The amortized cost, unrealized gains and losses, and fair market values of our investment securities held to maturity at September 26, 2015 are summarized as follows: Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Corporate Bonds $ 66,660 $ 15 $ 663 $ 66,012 Total investment securities held to maturity $ 66,660 $ 15 $ 663 $ 66,012 The amortized cost, unrealized gains and losses, and fair market values of our investment securities available for sale at September 26, 2015 are summarized as follows: Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Mutual Funds $ 20,041 $ - $ 827 $ 19,214 Preferred Stock 20,473 114 163 20,424 Total investment securities available for sale $ 40,514 $ 114 $ 990 $ 39,638 The amortized cost and fair value of the Company’s held to maturity securities by contractual maturity at June 25, 2016 and September 26, 2015 are summarized as follows: June 25, 2016 September 26, 2015 Fair Fair Amortized Market Amortized Market Cost Value Cost Value (in thousands) Due in one year or less $ 9,667 $ 9,675 $ - $ - Due after one year through five years 96,197 96,376 63,522 63,010 Due after five years through ten years - - 3,138 3,002 Total held to maturity securities $ 105,864 $ 106,051 $ 66,660 $ 66,012 Less current portion 9,667 9,675 - - Long term held to maturity securities $ 96,197 $ 96,376 $ 66,660 $ 66,012 Proceeds from the redemption and sale of marketable securities were $5,624,000 and $11,008,000 in the three and nine months ended June 25, 2016 and $26,367,000 and $39,968,000 in the three and nine months ended June 27, 2015, respectively. Losses of $176,000 and $582,000 were recorded in the three and nine months ended June 25, 2016 and $1,395,000 and $1,904,000 were recorded in the three and nine months ended June 27, 2015, respectively. We use the specific identification method to determine the cost of securities sold.

Note 12

Note 12	9 Months Ended
	Jun. 25, 2016
Notes to Financial Statements
Business Combination Disclosure [Text Block]	Note 12 Changes to the components of accumulated other comprehensive loss are as follows: Three Months Ended June 25, 2016 Nine Months Ended June 25, 2016 (unaudited) (unaudited) (in thousands) (in thousands) Unrealized Unrealized Foreign Currency Holding Loss on Foreign Currency Holding Loss on Translation Marketable Translation Marketable Adjustments Securities Total Adjustments Securities Total Beginning Balance $ (10,701 ) $ (1,978 ) $ (12,679 ) $ (10,021 ) $ (876 ) $ (10,897 ) Other comprehensive income (loss) before reclassifications (1,387 ) 534 (853 ) (2,067 ) (812 ) (2,879 ) Amounts reclassified from accumulated other comprehensive income - 106 106 - 350 350 Ending Balance $ (12,088 ) $ (1,338 ) $ (13,426 ) $ (12,088 ) $ (1,338 ) $ (13,426 ) Three Months Ended June 27, 2015 Nine Months Ended June 27, 2015 (unaudited) (unaudited) (in thousands) (in thousands) Unrealized Unrealized Foreign Currency Holding Loss on Foreign Currency Holding Loss on Translation Marketable Translation Marketable Adjustments Securities Total Adjustments Securities Total Beginning Balance $ (7,501 ) $ (2,745 ) $ (10,246 ) $ (4,632 ) $ (1,356 ) $ (5,988 ) Other comprehensive income (loss) before reclassifications (420 ) (728 ) (1,148 ) (3,289 ) (2,333 ) (5,622 ) Amounts reclassified from accumulated other comprehensive income - 1,099 1,099 - 1,315 1,315 Ending Balance $ (7,921 ) $ (2,374 ) $ (10,295 ) $ (7,921 ) $ (2,374 ) $ (10,295 )

Note 4 (Tables)

Note 4 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 25, 2016 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 26,791 18,615 $ 1.44 Effect of Dilutive Securities Options - 90 (0.01 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 26,791 18,705 $ 1.43 Nine Months Ended June 25, 2016 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 55,357 18,646 $ 2.97 Effect of Dilutive Securities Options - 119 (0.02 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 55,357 18,765 $ 2.95 Three Months Ended June 27, 2015 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 24,462 18,691 $ 1.31 Effect of Dilutive Securities Options - 132 (0.01 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 24,462 18,823 $ 1.30 Nine Months Ended June 27, 2015 Income Shares Per Share (Numerator) (Denominator) Amount (in thousands, except per share amounts) Basic EPS Net Earnings available to common stockholders $ 50,355 18,683 $ 2.70 Effect of Dilutive Securities Options - 132 (0.02 ) Diluted EPS Net Earnings available to common stockholders plus assumed conversions $ 50,355 18,815 $ 2.68

Note 5 (Tables)

Note 5 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Three months ended Nine months ended June 25, June 27, June 25, June 27, 2016 2015 2016 2015 (in thousands, except per share amounts) Stock Options $ 112 $ 439 $ 56 $ 987 Stock purchase plan 96 77 248 274 Restricted stock issued to an employee 1 1 3 4 Total share-based compensation $ 209 $ 517 $ 307 $ 1,265 The above compensation is net of tax benefits $ 470 $ 99 $ 1,427 $ 360

Note 8 (Tables)

Note 8 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 25, September 26, 2016 2015 (unaudited) (in thousands) Finished goods $ 41,991 $ 34,258 Raw Materials 20,077 17,000 Packaging materials 6,845 5,949 Equipment parts & other 25,993 25,450 Total Inventories $ 94,906 $ 82,657

Note 9 (Tables)

Note 9 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three months ended Nine months ended June 25, June 27, June 25, June 27, 2016 2015 2016 2015 (unaudited) (in thousands) Sales to External Customers: Food Service Soft pretzels $ 44,410 $ 42,920 $ 125,943 $ 124,737 Frozen juices and ices 18,564 19,331 37,850 38,604 Churros 15,819 14,979 43,452 42,568 Handhelds 7,047 5,853 20,371 16,055 Bakery 74,475 79,643 221,500 224,865 Other 8,833 4,522 15,507 9,242 Total Food Service $ 169,148 $ 167,248 $ 464,623 $ 456,071 Retail Supermarket Soft pretzels $ 7,136 $ 7,431 $ 25,611 $ 27,460 Frozen juices and ices 26,038 29,421 48,009 52,298 Handhelds 3,813 4,667 11,121 14,115 Coupon redemption (826 ) (811 ) (1,911 ) (2,811 ) Other 852 420 2,143 986 Total Retail Supermarket $ 37,013 $ 41,128 $ 84,973 $ 92,048 Frozen Beverages Beverages $ 44,352 $ 44,990 $ 102,966 $ 99,278 Repair and maintenance service 18,398 17,270 53,105 48,303 Machines sales 8,942 7,696 23,911 19,771 Other 128 392 963 1,013 Total Frozen Beverages $ 71,820 $ 70,348 $ 180,945 $ 168,365 Consolidated Sales $ 277,981 $ 278,724 $ 730,541 $ 716,484 Depreciation and Amortization: Food Service $ 5,777 $ 5,267 $ 16,846 $ 15,782 Retail Supermarket 288 283 862 849 Frozen Beverages 4,095 4,052 12,122 11,827 Total Depreciation and Amortization $ 10,160 $ 9,602 $ 29,830 $ 28,458 Operating Income: Food Service $ 24,619 $ 20,479 $ 59,041 $ 51,621 Retail Supermarket 4,266 6,406 7,825 9,607 Frozen Beverages 11,552 11,926 15,210 15,998 Total Operating Income $ 40,437 $ 38,811 $ 82,076 $ 77,226 Capital Expenditures: Food Service $ 5,961 $ 9,315 $ 19,470 $ 20,065 Retail Supermarket 140 - 339 62 Frozen Beverages 7,385 6,932 17,412 14,053 Total Capital Expenditures $ 13,486 $ 16,247 $ 37,221 $ 34,180 Assets: Food Service $ 563,571 $ 541,314 $ 563,571 $ 541,314 Retail Supermarket 26,110 26,711 26,110 26,711 Frozen Beverages 181,552 174,901 181,552 174,901 Total Assets $ 771,233 $ 742,926 $ 771,233 $ 742,926

Note 10 (Tables)

Note 10 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Schedule of Acquired Intangible Asset by Major Class [Table Text Block]	June 25, 2016 September 26, 2015 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (in thousands) FOOD SERVICE Indefinite lived intangible assets Trade Names $ 13,072 $ - $ 13,072 $ - Amortized intangible assets Non compete agreements 592 557 592 538 Customer relationships 40,797 36,296 40,797 33,584 License and rights 3,606 2,869 3,606 2,802 TOTAL FOOD SERVICE $ 58,067 $ 39,722 $ 58,067 $ 36,924 RETAIL SUPERMARKETS Indefinite lived intangible assets Trade Names $ 7,206 $ - $ 7,206 $ - Amortized Intangible Assets Non compete agreements 160 160 160 114 Customer relationships 7,979 1,821 7,979 1,220 TOTAL RETAIL SUPERMARKETS $ 15,345 $ 1,981 $ 15,345 $ 1,334 FROZEN BEVERAGES Indefinite lived intangible assets Trade Names $ 9,315 $ - $ 9,315 $ - Amortized intangible assets Non compete agreements 198 198 198 198 Customer relationships 6,678 6,501 6,678 6,075 Licenses and rights 1,601 907 1,601 854 TOTAL FROZEN BEVERAGES $ 17,792 $ 7,606 $ 17,792 $ 7,127 CONSOLIDATED $ 91,204 $ 49,309 $ 91,204 $ 45,385
Schedule of Goodwill [Table Text Block]	Food Retail Frozen Service Supermarket Beverages Total (in thousands) Balance at June 25, 2016 $ 46,832 $ 3,670 $ 35,940 $ 86,442 Balance at September 26, 2015 $ 46,832 $ 3,670 $ 35,940 $ 86,442

Note 11 (Tables)

Note 11 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Unrealized Gain (Loss) on Investments [Table Text Block]	Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Corporate Bonds $ 104,904 $ 594 $ 418 $ 105,080 Certificates of Deposit 960 11 - 971 Total investment securities held to maturity $ 105,864 $ 605 $ 418 $ 106,051 Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Mutual Funds $ 13,987 $ - $ 884 $ 13,103 Preferred Stock 16,791 25 479 16,337 Total investment securities available for sale $ 30,778 $ 25 $ 1,363 $ 29,440 Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Corporate Bonds $ 66,660 $ 15 $ 663 $ 66,012 Total investment securities held to maturity $ 66,660 $ 15 $ 663 $ 66,012 Gross Gross Fair Amortized Unrealized Unrealized Market Cost Gains Losses Value (in thousands) Mutual Funds $ 20,041 $ - $ 827 $ 19,214 Preferred Stock 20,473 114 163 20,424 Total investment securities available for sale $ 40,514 $ 114 $ 990 $ 39,638
Investments Classified by Contractual Maturity Date [Table Text Block]	June 25, 2016 September 26, 2015 Fair Fair Amortized Market Amortized Market Cost Value Cost Value (in thousands) Due in one year or less $ 9,667 $ 9,675 $ - $ - Due after one year through five years 96,197 96,376 63,522 63,010 Due after five years through ten years - - 3,138 3,002 Total held to maturity securities $ 105,864 $ 106,051 $ 66,660 $ 66,012 Less current portion 9,667 9,675 - - Long term held to maturity securities $ 96,197 $ 96,376 $ 66,660 $ 66,012

Note 12 (Tables)

Note 12 (Tables)	9 Months Ended
	Jun. 25, 2016
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Three Months Ended June 25, 2016 Nine Months Ended June 25, 2016 (unaudited) (unaudited) (in thousands) (in thousands) Unrealized Unrealized Foreign Currency Holding Loss on Foreign Currency Holding Loss on Translation Marketable Translation Marketable Adjustments Securities Total Adjustments Securities Total Beginning Balance $ (10,701 ) $ (1,978 ) $ (12,679 ) $ (10,021 ) $ (876 ) $ (10,897 ) Other comprehensive income (loss) before reclassifications (1,387 ) 534 (853 ) (2,067 ) (812 ) (2,879 ) Amounts reclassified from accumulated other comprehensive income - 106 106 - 350 350 Ending Balance $ (12,088 ) $ (1,338 ) $ (13,426 ) $ (12,088 ) $ (1,338 ) $ (13,426 ) Three Months Ended June 27, 2015 Nine Months Ended June 27, 2015 (unaudited) (unaudited) (in thousands) (in thousands) Unrealized Unrealized Foreign Currency Holding Loss on Foreign Currency Holding Loss on Translation Marketable Translation Marketable Adjustments Securities Total Adjustments Securities Total Beginning Balance $ (7,501 ) $ (2,745 ) $ (10,246 ) $ (4,632 ) $ (1,356 ) $ (5,988 ) Other comprehensive income (loss) before reclassifications (420 ) (728 ) (1,148 ) (3,289 ) (2,333 ) (5,622 ) Amounts reclassified from accumulated other comprehensive income - 1,099 1,099 - 1,315 1,315 Ending Balance $ (7,921 ) $ (2,374 ) $ (10,295 ) $ (7,921 ) $ (2,374 ) $ (10,295 )

Note 2 (Details Textual)

Note 2 (Details Textual) - USD ($)	Jun. 25, 2016	Sep. 26, 2015
Allowance for Doubtful Accounts Receivable	$ 655,000	$ 304,000

Note 3 (Details Textual)

Note 3 (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			3 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			20 years
Depreciation	$ 8,765,000	$ 8,026,000	$ 25,526,000	$ 24,013,000

Note 4 (Details Textual)

Note 4 (Details Textual) - shares	3 Months Ended	9 Months Ended
	Jun. 25, 2016	Jun. 25, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	189,170	189,670

Note 4 - Calculation of EPS (De

Note 4 - Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Net Earnings available to common stockholders	$ 26,791,000	$ 24,462	$ 55,357	$ 50,355
Weighted average number of shares outstanding, basic (in shares)	18,615	18,691	18,646	18,683
Earnings per share, basic (in dollars per share)	$ 1.44	$ 1.31	$ 2.97	$ 2.70
Options
Options (in shares)	90	132	119	132
Options (in dollars per share)	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.02)
Net Earnings available to common stockholders plus assumed conversions	$ 26,791,000	$ 24,462,000	$ 55,357,000	$ 50,355,000
Weighted average number of shares outstanding, diluted (in shares)	18,705	18,823	18,765	18,815
Earnings per share, diluted (in dollars per share)	$ 1.43	$ 1.30	$ 2.95	$ 2.68

Note 5 (Details Textual)

Note 5 (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Jun. 25, 2016	Mar. 26, 2016	Dec. 26, 2015	Jun. 25, 2016	Jun. 27, 2015
Scenario, Previously Reported [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense			$ 175,000
Early Adoption of ASU 2016-09 [Member] | Employee Stock Option [Member] | First Quarter of Fiscal Year 2016 [Member]
Prior Period Reclassification Adjustment			499,000
Employee Stock Option [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	$ 163,000	$ 89,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate				15.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate				1.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate				1.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term				5 years
Five Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term				4 years 30 days
Ten Year Options [Member]
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions Volatility Calculation Term				10 years
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense			$ 674,000
Anticipated ShareBased Compensation Net Of Tax Benefits				$ 800,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				159,170	148,840
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 13.94	$ 15.23

Note 5 - Share-based Compensati

Note 5 - Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015
Employee Stock Option [Member]
Share-based compensation expense	$ 112	$ 439	$ 56	$ 987
Stock Purchase Plan [Member]
Share-based compensation expense	96	77	248	274
Restricted Stock [Member]
Share-based compensation expense	1	1	3	4
Share-based compensation expense	209	517	307	1,265
The above compensation is net of tax benefits	$ 470	$ 99	$ 1,427	$ 360

Note 6 (Details Textual)

Note 6 (Details Textual) - USD ($)	Jun. 25, 2016	Sep. 26, 2015
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 349,000	$ 334,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 214,000	$ 199,000

Note 8 - Inventories (Current P

Note 8 - Inventories (Current Period Unaudited) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Sep. 26, 2015
Finished goods	$ 41,991	$ 34,258
Raw Materials	20,077	17,000
Packaging materials	6,845	5,949
Equipment parts & other	25,993	25,450
Total Inventories	$ 94,906	$ 82,657

Note 9 (Details Textual)

Note 9 (Details Textual)	9 Months Ended
	Jun. 25, 2016
Number of Reportable Segments	3

Note 9 - Reportable Segments Op

Note 9 - Reportable Segments Operations Information (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2016	Jun. 27, 2015	Jun. 25, 2016	Jun. 27, 2015	Sep. 26, 2015
Food Service [Member] | Soft Pretzels [Member]
Sales to External Customers	$ 44,410	$ 42,920	$ 125,943	$ 124,737
Food Service [Member] | Frozen Juices and Ices [Member]
Sales to External Customers	18,564	19,331	37,850	38,604
Food Service [Member] | Churros [Member]
Sales to External Customers	15,819	14,979	43,452	42,568
Food Service [Member] | Handhelds [Member]
Sales to External Customers	7,047	5,853	20,371	16,055
Food Service [Member] | Bakery [Member]
Sales to External Customers	74,475	79,643	221,500	224,865
Food Service [Member] | Other Products [Member]
Sales to External Customers	8,833	4,522	15,507	9,242
Food Service [Member]
Sales to External Customers	169,148	167,248	464,623	456,071
Depreciation and Amortization	5,777	5,267	16,846	15,782
Operating Income	24,619	20,479	59,041	51,621
Capital Expenditures	5,961	9,315	19,470	20,065
Assets	563,571	541,314	563,571	541,314
Retail Supermarket [Member] | Soft Pretzels [Member]
Sales to External Customers	7,136	7,431	25,611	27,460
Retail Supermarket [Member] | Frozen Juices and Ices [Member]
Sales to External Customers	26,038	29,421	48,009	52,298
Retail Supermarket [Member] | Handhelds [Member]
Sales to External Customers	3,813	4,667	11,121	14,115
Retail Supermarket [Member] | Other Products [Member]
Sales to External Customers	852	420	2,143	986
Retail Supermarket [Member] | Coupon Redemtion [Member]
Sales to External Customers	(826)	(811)	(1,911)	(2,811)
Retail Supermarket [Member]
Sales to External Customers	37,013	41,128	84,973	92,048
Depreciation and Amortization	288	283	862	849
Operating Income	4,266	6,406	7,825	9,607
Capital Expenditures	140		339	62
Assets	26,110	26,711	26,110	26,711
Frozen Beverages [Member] | Other Products [Member]
Sales to External Customers	128	392	963	1,013
Frozen Beverages [Member] | Beverage [Member]
Sales to External Customers	44,352	44,990	102,966	99,278
Frozen Beverages [Member] | Repair and Maintenance Service [Member]
Sales to External Customers	18,398	17,270	53,105	48,303
Frozen Beverages [Member] | Machine Sales [Member]
Sales to External Customers	8,942	7,696	23,911	19,771
Frozen Beverages [Member]
Sales to External Customers	71,820	70,348	180,945	168,365
Depreciation and Amortization	4,095	4,052	12,122	11,827
Operating Income	11,552	11,926	15,210	15,998
Capital Expenditures	7,385	6,932	17,412	14,053
Assets	181,552	174,901	181,552	174,901
Sales to External Customers	277,981	278,724	730,541	716,484
Depreciation and Amortization	10,160	9,602	29,830	28,458
Operating Income	40,437	38,811	82,076	77,226
Capital Expenditures	13,486	16,247	37,221	34,180
Assets	$ 771,233	$ 742,926	$ 771,233	$ 742,926	$ 742,935

Note 10 (Details Textual)

Note 10 (Details Textual)	3 Months Ended		9 Months Ended
	Jun. 25, 2016USD ($)	Jun. 27, 2015USD ($)	Jun. 25, 2016USD ($)	Jun. 27, 2015USD ($)
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			3 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			20 years
Indefinite-lived Intangible Assets Acquired	$ 0		$ 0
Number of Reporting Units			3
Amortization of Intangible Assets	1,267,000	$ 1,332,000	$ 3,924,000	$ 4,039,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	5,100,000		5,100,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,600,000		2,600,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,800,000		1,800,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,700,000		1,700,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	1,400,000		$ 1,400,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			10 years
Goodwill, Acquired During Period	$ 0		$ 0

Note 10 - Intangible Assets by

Note 10 - Intangible Assets by Reporting Segment (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Sep. 26, 2015
Food Service [Member] | Trade Names [Member]
Gross Carrying Amount	$ 13,072	$ 13,072
Food Service [Member] | Noncompete Agreements [Member]
Gross Carrying Amount	592	592
Accumulated Amortization	557	538
Food Service [Member] | Customer Relationships [Member]
Gross Carrying Amount	40,797	40,797
Accumulated Amortization	36,296	33,584
Food Service [Member] | License and Rights [Member]
Gross Carrying Amount	3,606	3,606
Accumulated Amortization	2,869	2,802
Food Service [Member]
Accumulated Amortization	39,722	36,924
Gross Carrying Amount	58,067	58,067
Retail Supermarket [Member] | Trade Names [Member]
Gross Carrying Amount	7,206	7,206
Retail Supermarket [Member] | Noncompete Agreements [Member]
Gross Carrying Amount	160	160
Accumulated Amortization	160	114
Retail Supermarket [Member] | Customer Relationships [Member]
Gross Carrying Amount	7,979	7,979
Accumulated Amortization	1,821	1,220
Retail Supermarket [Member]
Accumulated Amortization	1,981	1,334
Gross Carrying Amount	15,345	15,345
Frozen Beverages [Member] | Trade Names [Member]
Gross Carrying Amount	9,315	9,315
Frozen Beverages [Member] | Noncompete Agreements [Member]
Gross Carrying Amount	198	198
Accumulated Amortization	198	198
Frozen Beverages [Member] | Customer Relationships [Member]
Gross Carrying Amount	6,678	6,678
Accumulated Amortization	6,501	6,075
Frozen Beverages [Member] | License and Rights [Member]
Gross Carrying Amount	1,601	1,601
Accumulated Amortization	907	854
Frozen Beverages [Member]
Accumulated Amortization	7,606	7,127
Gross Carrying Amount	17,792	17,792
Accumulated Amortization	49,309	45,385
Gross Carrying Amount	$ 91,204	$ 91,204

Note 10 - Goodwill by Reporting

Note 10 - Goodwill by Reporting Segment (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Sep. 26, 2015
Food Service [Member]
Balance	$ 46,832	$ 46,832
Retail Supermarket [Member]
Balance	3,670	3,670
Frozen Beverages [Member]
Balance	35,940	35,940
Balance	$ 86,442	$ 86,442

Note 11 (Details Textual)

Note 11 (Details Textual)	3 Months Ended		9 Months Ended
	Jun. 25, 2016USD ($)	Jun. 27, 2015USD ($)	Jun. 25, 2016USD ($)	Jun. 27, 2015USD ($)	Sep. 26, 2015USD ($)
Four Mutual Funds [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	$ 884,000		$ 884,000
Number of Funds			4
Marketable Securities	13,100,000		$ 13,100,000
Preferred Stock [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	479,000		479,000		$ 163,000
Marketable Securities	14,800,000		$ 14,800,000
Number of Holdings			12
Mutual Funds [Member]
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	884,000		$ 884,000		827,000
Classification Of Noncurrent Asset, Mutual Funds, Period			1 year
Corporate Bond Securities [Member]
Held-to-maturity Securities	85,000,000		$ 85,000,000
Investment Securities Maturity Term			3 years
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	1,363,000		$ 1,363,000		990,000
Held-to-maturity Securities	105,864,000		105,864,000		$ 66,660,000
Proceeds from Sale and Maturity of Marketable Securities	5,624,000	$ 26,367,000	11,008,000	$ 39,968,000
Marketable Securities, Gain (Loss)	$ (176,000)	$ (1,395,000)	$ (582,000)	$ (1,904,000)

Note 11 - Summary of Securities

Note 11 - Summary of Securities (Details) - USD ($)	Jun. 25, 2016	Sep. 26, 2015
Corporate Bond Securities [Member]
Held to Maturity - Amortized Cost	$ 104,904,000	$ 66,660,000
Held to Maturity - Gross Unrealized Gains	594,000	15,000
Held to Maturity - Gross Unrealized Losses	418,000	663,000
Held to Maturity - Fair Market Value	105,080,000	66,012,000
Mutual Funds [Member]
Available for Sale - Amortized Cost	13,987,000	20,041,000
Available for Sale - Gross Unrealized Gains
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	884,000	827,000
Available for Sale - Fair Market Value	13,103,000	19,214,000
Certificates of Deposit [Member]
Held to Maturity - Amortized Cost	960,000
Held to Maturity - Gross Unrealized Gains	11,000
Held to Maturity - Gross Unrealized Losses
Held to Maturity - Fair Market Value	971,000
Preferred Stock [Member]
Available for Sale - Amortized Cost	16,791,000	20,473,000
Available for Sale - Gross Unrealized Gains	25,000	114,000
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	479,000	163,000
Available for Sale - Fair Market Value	16,337,000	20,424,000
Held to Maturity - Amortized Cost	105,864,000	66,660,000
Held to Maturity - Gross Unrealized Gains	605,000	15,000
Held to Maturity - Gross Unrealized Losses	418,000	663,000
Held to Maturity - Fair Market Value	106,051,000	66,012,000
Available for Sale - Amortized Cost	30,778,000	40,514,000
Available for Sale - Gross Unrealized Gains	25,000	114,000
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax	1,363,000	990,000
Available for Sale - Fair Market Value	$ 29,440,000	$ 39,638,000

Note 11 - Held to Maturity by C

Note 11 - Held to Maturity by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Sep. 26, 2015
Due in one year or less	$ 9,667
Due in one year or less	9,675
Due after one year through five years	96,197	63,522
Fair Market Value, Due after one year through five years	96,376	63,010
Due after five years through ten years		3,138
Due after five years through ten years		3,002
Held-to-maturity Securities	105,864	66,660
Held to Maturity - Fair Market Value	106,051	66,012
Marketable securities held to maturity	9,667
Less current portion	9,675
Long term held to maturity securities	96,197	66,660
Long term held to maturity securities	$ 96,376	$ 66,012

Note 12 - Changes to the Compon

Note 12 - Changes to the Components of Other Comprehensive Loss (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2016	Jun. 27, 2015	Jun. 27, 2016	Jun. 27, 2015
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Beginning balance	$ (10,701)	$ (7,501)	$ (10,021)	$ (4,632)
Other comprehensive income (loss) before reclassifications	(1,387)	(420)	(2,067)	(3,289)
Amounts reclassified from accumulated other comprehensive income
Ending balance	(12,088)	(7,921)	(12,088)	(7,921)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Beginning balance	(1,978)	(2,745)	(876)	(1,356)
Other comprehensive income (loss) before reclassifications	534	(728)	(812)	(2,333)
Amounts reclassified from accumulated other comprehensive income	106	1,099	350	1,315
Ending balance	(1,338)	(2,374)	(1,338)	(2,374)
Beginning balance	(12,679)	(10,246)	(10,897)	(5,988)
Other comprehensive income (loss) before reclassifications	(853)	(1,148)	(2,879)	(5,622)
Amounts reclassified from accumulated other comprehensive income	106	1,099	350	1,315
Ending balance	$ (13,426)	$ (10,295)	$ (13,426)	$ (10,295)