EXHIBIT 99.1
SUMMARY FINANCIAL DATA
The Company’s historical results and key ratios for the fiscal years ended June 29, 2000 through June 24, 2004 and the quarters ended September 25, 2003 and September 23, 2004 are shown below.
John B. Sanfilippo & Son, Inc.
Selected Financial Data
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| | Fiscal Year Ended | | | For the Quarter Ended | |
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| | 6/29/00 | | | 6/28/01 | | | 6/27/02 | | | 6/26/03 | | | 6/24/04 | | | 9/25/03 | | | 9/23/04 | |
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Income Statement: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Sales | | $ | 326,619 | | | $ | 342,357 | | | $ | 352,799 | | | $ | 419,676 | | | $ | 520,811 | | | $ | 124,762 | | | $ | 134,645 | |
Cost of Sales | | | 272,025 | | | | 283,278 | | | | 294,931 | | | | 347,041 | | | | 428,967 | | | | 99,345 | | | | 117,179 | |
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| Gross Profit | | | 54,594 | | | | 59,079 | | | | 57,868 | | | | 72,635 | | | | 91,844 | | | | 25,417 | | | | 16,926 | |
Sales, General, Administrative & Other | | | 35,997 | | | | 38,678 | | | | 39,966 | | | | 43,806 | | | | 50,780 | | | | 12,797 | | | | 12,601 | |
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| Operating Income | | | 18,597 | | | | 20,401 | | | | 17,902 | | | | 28,829 | | | | 41,064 | | | | 12,620 | | | | 4,325 | |
Interest Expense | | | (8,036) | | | | (8,365) | | | | (5,757) | | | | (4,681) | | | | (3,434) | | | | (995) | | | | (311) | |
Debt Extinguishment Fees | | | 0 | | | | 0 | | | | 0 | | | | 0 | | | | (972) | | | | 0 | | | | 0 | |
Miscellaneous | | | 701 | | | | 622 | | | | 590 | | | | 486 | | | | 440 | | | | 117 | | | | 176 | |
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| Earnings Before Taxes | | | 11,262 | | | | 12,658 | | | | 12,735 | | | | 24,634 | | | | 37,098 | | | | 11,742 | | | | 4,190 | |
Income Tax Expense (Benefit) | | | 4,505 | | | | 5,063 | | | | 5,044 | | | | 9,607 | | | | 14,468 | | | | 4,579 | | | | 1,634 | |
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Net Income | | $ | 6,757 | | | $ | 7,595 | | | $ | 7,691 | | | $ | 15,027 | | | $ | 22,630 | | | $ | 7,163 | | | $ | 2,556 | |
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EBITDA (1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net Income | | $ | 6,757 | | | $ | 7,595 | | | $ | 7,691 | | | $ | 15,027 | | | $ | 22,630 | | | $ | 7,163 | | | $ | 2,556 | |
| Interest Expense | | | 8,036 | | | | 8,365 | | | | 5,757 | | | | 4,681 | | | | 3,434 | | | | 995 | | | | 311 | |
| Other Income | | | (701) | | | | (622) | | | | (590) | | | | (486) | | | | 532 | | | | (117) | | | | (176) | |
| Depreciation and Amortization | | | 11,259 | | | | 9,974 | | | | 10,428 | | | | 11,248 | | | | 11,190 | | | | 2,681 | | | | 2,727 | |
| Income Tax Expense | | | 4,505 | | | | 5,063 | | | | 5,044 | | | | 9,607 | | | | 14,468 | | | | 4,579 | | | | 1,634 | |
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EBITDA | | $ | 29,856 | | | $ | 30,375 | | | $ | 28,330 | | | $ | 40,077 | | | $ | 52,254 | | | $ | 15,301 | | | $ | 7,052 | |
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Balance Sheet: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and Equivalents | | $ | 1,113 | | | $ | 1,098 | | | $ | 1,272 | | | $ | 2,448 | | | $ | 2,085 | | | $ | 3,173 | | | $ | 15,146 | |
Accounts Receivable | | | 24,068 | | | | 25,890 | | | | 24,133 | | | | 29,142 | | | | 33,735 | | | | 42,864 | | | | 41,865 | |
Inventory | | | 105,760 | | | | 98,567 | | | | 99,485 | | | | 112,016 | | | | 127,459 | | | | 105,701 | | | | 134,566 | |
Other Current Assets | | | 3,618 | | | | 3,444 | | | | 3,893 | | | | 3,918 | | | | 4,347 | | | | 3,542 | | | | 3,566 | |
Net Fixed Assets | | | 69,761 | | | | 70,647 | | | | 67,462 | | | | 67,117 | | | | 69,154 | | | | 68,451 | | | | 69,163 | |
Other Assets | | | 11,493 | | | | 10,594 | | | | 10,570 | | | | 9,086 | | | | 8,339 | | | | 8,712 | | | | 8,084 | |
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| Total Assets | | $ | 215,813 | | | $ | 210,240 | | | $ | 206,815 | | | $ | 223,727 | | | $ | 245,119 | | | $ | 232,443 | | | $ | 272,390 | |
Notes Payable | | | 41,874 | | | | 37,532 | | | | 23,519 | | | | 29,702 | | | | 5,269 | | | | 10,889 | | | | 0 | |
Current Maturities | | | 5,702 | | | | 12,666 | | | | 5,683 | | | | 10,776 | | | | 1,277 | | | | 10,946 | | | | 1,030 | |
Other Current Liabilities | | | 26,815 | | | | 23,746 | | | | 32,186 | | | | 31,864 | | | | 38,226 | | | | 59,846 | | | | 68,598 | |
Long-Term Debt | | | 51,779 | | | | 39,109 | | | | 40,421 | | | | 29,640 | | | | 12,620 | | | | 21,790 | | | | 12,426 | |
Deferred Income Taxes & Other | | | 2,892 | | | | 2,841 | | | | 2,946 | | | | 2,964 | | | | 6,367 | | | | 2,964 | | | | 6,374 | |
Stockholders’ Equity | | | 86,751 | | | | 94,346 | | | | 102,060 | | | | 118,781 | | | | 181,360 | | | | 126,008 | | | | 183,962 | |
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| Liabilities and Equity | | $ | 215,813 | | | $ | 210,240 | | | $ | 206,815 | | | $ | 223,727 | | | $ | 245,119 | | | $ | 232,443 | | | $ | 272,390 | |
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Total Debt | | | 99,355 | | | | 89,307 | | | | 69,623 | | | | 70,118 | | | | 19,166 | | | | 43,625 | | | | 13,456 | |
Capitalization | | | 186,106 | | | | 183,653 | | | | 171,683 | | | | 188,899 | | | | 200,526 | | | | 169,633 | | | | 197,418 | |
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Key Ratios: | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Gross Profit Margin | | | 16.7 | % | | | 17.3 | % | | | 16.4 | % | | | 17.3 | % | | | 17.6 | % | | | 20.4 | % | | | 12.6 | % |
EBITDA Margin | | | 9.1 | % | | | 8.9 | % | | | 8.0 | % | | | 9.5 | % | | | 10.0 | % | | | 12.3 | % | | | 5.2 | % |
Operating Margin | | | 5.7 | % | | | 6.0 | % | | | 5.1 | % | | | 6.9 | % | | | 7.9 | % | | | 10.1 | % | | | 3.2 | % |
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EBITDA/Total Interest Expense | | | 3.72 | x | | | 3.63 | x | | | 4.92 | x | | | 8.56 | x | | | 15.22 | x | | | 15.38 | x | | | 22.68 | x |
Total Debt/LTM EBITDA (2) | | | 3.33 | x | | | 2.94 | x | | | 2.46 | x | | | 1.75 | x | | | 0.37 | x | | | 0.89 | x | | | 0.31 | x |
Total Debt/Capitalization | | | 53.4 | % | | | 48.6 | % | | | 40.6 | % | | | 37.1 | % | | | 9.6 | % | | | 25.7 | % | | | 6.8 | % |
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(1) | EBITDA is a non-GAAP measure commonly used by analysts and investors. The Company believes that it is important in evaluating financial performance and market valuation. |
(2) | For the quarter ended 9/25/03 LTM EBITDA was $49.1 million and for the quarter ended 9/23/04 LTM EBITDA was $44.0 million. |