Sanfilippo & Son reports net income increase

ELGIN - John B. Sanfilippo & Son Inc. said net income for the third quarter of its fiscal year was $14.7 million, or $1.27 per share diluted, compared to net income of $13.5 million, or $1.17 per share diluted, for the third quarter of fiscal 2020.

Net income for the first three quarters of fiscal 2021 was $47.4 million, or $4.10 per share diluted, compared to net income of $43.9 million, or $3.80 per share diluted, for the first three quarters of fiscal 2020.

The company reported record net income and diluted earnings per share in the quarter despite the continuing challenges in its food service business and in its contract packaging distribution channel due to the impact of COVID-19, Sanfilippo & Son said.

Net sales decreased to $207.9 million for the third quarter from $211.6 million for the third quarter of fiscal 2020.

Sanfilippo & Son is a processor, marketer and distributor of nut- and dried fruit-based products that are sold under a variety of private brands and under the company's Fisher, Orchard Valley Harvest, and other brand names.