FOR IMMEDIATE RELEASE
TUESDAY, APRIL 24, 2001

Third Quarter Net Sales Increase 24% Over the Prior Year Third Quarter EPS Increases to $0.02 from $0.01 in the Prior Year Nine Month EPS Increases to $0.68 from $0.58 in the Prior Year

Elk Grove Village, IL, April 24, 2001 -- John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) today announced operating results for the third quarter of fiscal 2001, ended March 29, 2001. Net income was approximately $153,000 or 2 cents per share versus net income of approximately $111,000 or 1 cent per share for the third quarter of fiscal 2000. For the nine-month period, net income was approximately $6.2 million or 68 cents per share compared to approximately $5.3 million or 58 cents per share in fiscal 2000.

Net sales increased to approximately $64.0 million in the third quarter of fiscal 2001 from net sales of approximately $51.5 million in the third quarter of fiscal 2000. The increase in quarterly net sales was primarily attributable to greater sales within the private label consumer distribution channel. Increases in the food service, industrial and export distribution channels also contributed to the increase in quarterly sales. Gross profit margin decreased to 16.6 percent in the third quarter of fiscal 2001 from a gross profit margin of 19.1 percent in the third quarter of fiscal 2000. The decrease can be attributed to a change in sales mix.

Net sales for the nine-month period were approximately $264.9 million versus net sales of approximately $253.5 for fiscal 2000. This increase can be attributed to greater sales in the industrial and contract packaging distribution channels. Gross profit margin of 17.0 percent of net sales for the nine-month period was relatively consistent with the 17.5 percent for fiscal 2000.

As a percentage of net sales, selling and administrative expenses were 12.9 of net sales for the fiscal 2001 third quarter versus 15.1 percent of net sales for the third quarter of fiscal 2000. For the nine-month period, selling and administrative expenses were 10.9 percent of net sales versus 12.0 percent of net sales in fiscal 2000. The decrease in selling expense as a percentage of net sales for both the quarterly and nine-month periods was due to lower promotional activity in the consumer distribution channel. Operating income was 3.7 percent of net sales versus 4.0 percent of net sales for the third quarter of the previous fiscal year. Operating income for the nine-month period was 6.1 percent of net sales compared to 5.6 percent of net sales for fiscal 2000. Interest expense was approximately $2.3 million for the third quarter of fiscal 2001 compared to approximately $2.0 million for the third quarter of fiscal 2000. Interest expense for the nine-month period was approximately $6.4 million versus approximately $5.7 million for fiscal 2000. Higher average levels of borrowings accounted for the increase for both the quarterly and nine-month periods.

An accounting pronouncement became effective in the third quarter of fiscal 2001 which required a reclassification of certain selling expenses to a reduction of net sales. The impact of such reclassifications is immaterial. All current and prior period financial information has been adjusted to reflect this pronouncement.

"Fiscal 2001 continues to be a success in both sales and earnings," stated Jasper B. Sanfilippo, Chairman and Chief Executive Officer. "We are pleased that we have exceeded, to date, the earnings of a very successful fiscal 2000."

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.