FOR IMMEDIATE RELEASE
FRIDAY, JANUARY 19, 2001

Second Quarter EPS Increases to $0.52 from $0.50 in the Prior Year
Six Month EPS Increases to $0.66 from $0.57 in the Prior Year

Elk Grove Village, IL, January 19, 2001 -- John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) today announced operating results for the second quarter of fiscal 2001, ended December 28, 2000. Net income was approximately $4.8 million or 52 cents per share versus net income of approximately $4.6 million or 50 cents per share for the second quarter of fiscal 2000. For the six-month period, net income was approximately $6.0 million or 66 cents per share compared to approximately $5.2 million or 57 cents per share in fiscal 2000.

Net sales decreased to approximately $115.3 million in the second quarter of fiscal 2001 from net sales of approximately $124.0 million in the second quarter of fiscal 2000. The decrease in quarterly net sales was attributable to a decline in sales within the Consumer distribution channel. Gross profit margin of 18.7 percent of net sales was relatively consistent with the 19.0 percent for the second quarter of fiscal 2000. Net sales for the six-month period were approximately $202.5 million, relatively unchanged from approximately $203.6 million for fiscal 2000. Gross profit margin of 17.8 percent for the six-month period is also consistent with the 17.7 percent for fiscal 2000.

As a percent of net sales, selling and administrative expenses were 10.1 percent of net sales for the fiscal 2001 second quarter versus 11.5 percent of net sales for the second quarter of fiscal 2000. For the six-month period, selling and administrative expenses were 10.9 percent of net sales versus 11.8 percent of net sales in fiscal 2000. The decrease in selling expenses for both the quarterly and six-month periods was due to lower promotional activity in the Consumer distribution channel. Operating income was 8.6 percent of net sales versus 7.5 percent of net sales for the second quarter of the previous fiscal year. Operating income for the six-month period was 6.9 percent of net sales compared to 5.9 percent of net sales in fiscal 2000. Interest expense was approximately $2.1 million compared to approximately $1.8 million for the second quarter of fiscal 2000. Interest expense for the six-month period was approximately $4.2 million versus approximately $3.7 million for fiscal 2000. Higher average levels of borrowings and higher interest rates accounted for the increase for both the quarterly and six-month periods.

"We are very pleased with our operating performance through the first half of fiscal 2001," stated Jasper B. Sanfilippo, chairman and chief executive officer. "The increase in earnings is a significant accomplishment as fiscal 2000 was very successful. We intend to enhance stockholder value through continued improvements in our performance."

John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of shelled and in-shell nuts and sesame sticks that are sold under a variety of private labels and under the company's Evon's^®, Fisher^®, Snack 'N Serve Nut Bowl^TM, Sunshine Country^®, Flavor Tree^® and Texas Pride^TM brand names. The company also markets and distributes a diverse product line of other food and snack items.

The statement of Jasper B. Sanfilippo in this release is forward-looking. This forward-looking statement is based on the company's current expectations and involves risks and uncertainties. Consequently, the company's actual results could differ materially. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company's products; (ii) changes in the availability and costs of raw materials for the production of the Company's products; (iii) fluctuations in the value of the Company's inventories of pecans, walnuts or other nuts due to fluctuations in the market prices of these nuts; (iv) the Company's ability to lessen the negative impact of competitive pressures by reducing its selling prices and increasing sales volume while at the same time maintaining profit margins by reducing costs; and (v) the timing and occurrence (or nonoccurrence) of other transactions and events which may be subject to circumstances beyond the company's control.

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