Earnings release
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Est , 192 JOHN B. SANFILIPPO & SON , INC . 1703 N. Randall Rd . | Elgin , IL 60123-7820 U.S.A. | P 847.289.1800 F 847.289.1843 JOHN B. SANFILIPPO & SON , INC . NEWS RELEASE COMPANY CONTACT : Frank Pellegrino Chief Financial Officer 847-214-4138 Michael J. Valentine Group President 847-214-4509 FOR IMMEDIATE RELEASE MONDAY , OCTOBER 25 , 2021 Quarterly Overview : First Quarter Diluted EPS Increased 49.5 % to a First Quarter Record of $ 1.66 per Share Net sales increased 7.6 % Sales volume increased 14.0 % Gross profit increased 31.7 % Net income increased 50.2 % Elgin , IL , October 25 , 2021 -- John B. Sanfilippo & Son , Inc. ( NASDAQ : JBSS ) ( the " Company " ) today announced operating results for its first quarter of fiscal 2022. Net income for the first quarter of fiscal 2022 was $ 19.2 million , or $ 1.66 per share diluted , compared to $ 12.8 million , or $ 1.11 per share diluted , for the first quarter of fiscal 2021 . Net sales increased to $ 226.3 million for the first quarter of fiscal 2022 from net sales of $ 210.3 million for the first quarter of fiscal 2021. The increase in net sales resulted from a 14.0 % increase in sales volume , which is defined as pounds sold to customers . The increase in net sales from the sales volume increase was partially offset by a 5.6 % decrease in the weighted average selling price per pound for our products . The decline in the weighted average selling price resulted from a decline in commodity acquisition costs for all major tree nuts except cashews . Sales volume increased in the consumer distribution channel by 13.0 % primarily from a 20.4 % increase in private brand sales volume for trail and snack mixes and mixed nuts from new distribution at existing customers . The increase in private brand sales volume was partially offset by a sales volume decline in our branded products . Sales volume in the consumer distribution channel accounted for 75.1 % of total sales volume in the current first quarter . Sales volume increased 37.2 % in the commercial ingredients distribution channel mainly due to a 47.8 % increase in sales volume to foodservice customers . The increase in foodservice sales 1