FOR IMMEDIATE RELEASE
January 26, 1999

JOHN B. SANFILIPPO REPORTS 2ND-QUARTER RESULTS

ELK GROVE VILLAGE, Ill., January 26, 1999—John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) today announced operating results for the second quarter and six months of fiscal 1999 ended December 24, 1998.

For the quarter, net sales increased to $113.3 million from $112.7 million in the second quarter of fiscal 1998. Net income for the second quarter of fiscal 1999 was $1.9 million, or 21 cents per share, compared with net income of $3.7 million, or 41 cents per share, in the second quarter of fiscal 1998. The gross margin was 16.1 percent of net sales compared with 18.2 percent for the second quarter of fiscal 1998. Selling and administrative expenses incurred were 11.3 percent of net sales during the second quarter of fiscal 1999 versus 11.0 percent of net sales for the second quarter of fiscal 1998. The fiscal 1999 second-quarter operating income was $5.4 million and $8.1 million for the second quarter of fiscal 1998.

Net sales for the fiscal 1999 six-month period ended December 24, 1998, were $187.2 million compared with $189.9 million for the year-ago period. Net income for the fiscal 1999 period was approximately $2.2 million, or 24 cents per share, versus net income of $4.7 million, or 52 cents per share, at the end of six months in fiscal 1998. The gross margin at the end of the first six months of fiscal 1999 was 15.8 percent of net sales compared with 17.5 percent for the first six months of fiscal 1998. For the first six months for both fiscal 1999 and 1998, selling and administrative expenses were 11.5 percent of net sales. Operating income for the first six months of fiscal 1999 was $8.1 million and $11.5 million for the same period in fiscal 1998.

"We completed the second quarter of fiscal 1999 in a profitable and positive manner despite the rising commodity costs across all of our products," stated Jasper B. Sanfilippo, chairman and chief executive officer. "We have taken action to secure additional business for the balance of the year. We believe this additional business, coupled with reduced head counts and increased cost controls, will have a positive impact on the balance of the year."

John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of shelled, 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 statements of Jasper B. Sanfilippo in this release are forward looking. These forward-looking statements are based on the company’s current expectations and involve 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 for the remainder of the fiscal year; (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; (v) the time and occurrence (or non-occurrence) of other transactions and events which may be subject to circumstances beyond the company’s control.

For further information on John B. Sanfilippo free of charge via fax, simply dial 1-800-PRO-INFO and enter "JBSS."
Or visit the company’s website at www.fishernuts.com