Jeffrey Sanfilippo – Chief Executive Officer Michael Valentine – Chief Financial Officer Jasper Sanfilippo – Chief Operating Officer

Good morning, ladies and gentlemen, and welcome to the John B. Sanfilippo & Son, Inc. Fourth Quarter and Fiscal 2014 Year End Operating Results Conference Call, hosted by Mike Valentine, Chief Financial Officer. My name is Benny, and I’ll be your event manager this morning. Throughout the conference, you’ll remain on listen-only. (Operator Instructions) Now, I’d like to hand it to Mike Valentine. Please go ahead. Michael Valentine Thank you, Benny. Good morning, everyone, and welcome to our 2014 fourth quarter and fiscal year earnings conference call. Thank you for joining us today. On the call with me today is Jeffrey Sanfilippo, our CEO; and Jasper Sanfilippo, our COO. Before we start, we want to remind everyone that we may make some forward-looking statements today. These statements are based on our current expectations, and involve certain risks and uncertainties that are inherent in our business. The factors that could negatively impact results are explained in the various SEC filings that we have made, including Forms 10-K and 10-Q. We encourage you to refer to these filings to learn more about these risks and uncertainties that are inherent in our business. I’ll start the call by covering the financial highlights for the 2014 fourth quarter and fiscal year. The current quarter net sales increased by 14.2% to a record $202.5 million compared to net sales of $177.4 million for the fourth quarter of fiscal 2013. The increase in net sales was attributable primarily to an 8% increase in selling prices. The increase in net sales on a quarterly comparison came mainly from a 9.5% increase in sales volume. Sales volume increased at all distribution channels, except the export channel and for all major product types, except pecans and walnuts. Approximately 70% of the volume increase occurred in the consumer distribution channel.…

Thank you, Mike. Good morning, everyone. I’m proud of our results for the quarter and for the year as the company achieved record net sales, record net income and record basic earnings per share. These strong consistent results demonstrate the success that the management team and all of our 1,300 employees are having in executing our corporate strategies and JBSS is evolving into a true consumer products company. It is important to note that our nut commodity purchases were $56.7 million higher during fiscal 2014 than fiscal 2013, due mainly to higher net acquisition costs. Drivers included the continued high demand for pecans and walnuts in China and strong global demand for almonds. And in spite of strong commodity costs, our company performed well and created customer and shareholder value. We were very pleased with the performance of our Fisher recipe nut brand during the quarter, current quarter and fiscal 2014 as sales volume grew by approximately 20% in both a quarterly and annual comparisons. As a result of our category management and innovation efforts, growth in private brand snack nut and trail mix sales to key existing customers continued to make a major contribution to our overall sales volume growth in the current quarter and fiscal year. Finally our ongoing continuous improvement efforts led to the achievement of meaningful manufacturing efficiency gains in the current fiscal year. I’m especially proud of the fact that the savings garnered from these efforts put us in a position to fund increases in direct labor wage rates which will allow us to attract and retain talented line operators and supervisors throughout the organization. I’d like to highlight four other accomplishments in fiscal 2014. As Mike mentioned, we sold the old Elgin site which we originally anticipated using in connection with our facility consolidation…

Okay, Jeff. Thanks. Benny, can you queue up the first question?

(Operator Instructions). Okay, we have no questions. I’ll pass it over to Mike to conclude the call. Thank you.

Okay. Thank you, Benny. Again, thanks everyone for your interest in JBSS. This concludes the call for our fourth quarter and fiscal year 2014 operating results.

Ladies and gentlemen, that concludes the call for today. You may now disconnect.