FOR
IMMEDIATE
RELEASE
April 28,
1998
JOHN
B. SANFILIPPO
ANNOUNCES
IMPROVED OPERATING
RESULTS
Gross Margins,
Operating
Income Drive
Performance
ELK
GROVE VILLAGE,
Ill, April
28, 1998--
John B.
Sanfilippo
& Son
(Nasdaq: JBSS)
today announced
improved operating
results for
the fiscal
1998 third
quarter ended
March 26,
1998, and
the first
nine months
of fiscal
1998, as a
result of
increased
gross margins
that boosted
operating
income.
Improved
Sales Mix
Benefits Third
Quarter
For the fiscal
1998 third
quarter, net
sales of $58.1
million were
basically
unchanged
versus fiscal
1997 third-quarter
sales of $58.5
million. The
third fiscal
quarter is
traditionally
soft, the
company noted.
The net loss
totaled $106,000,
or $0.01 per
share, compared
with a loss
of $192,000,
or $0.02 per
share, in
the year-ago
period.
Improved sales
mix boosted
the gross
margin to
18.7 percent
compared with
16.3 percent
in the prior
year's third
quarter. Increased
promotions
drove selling
expense to
10.4 percent
of net sales
in the fiscal
1998 third
quarter compared
with 9.3 percent
of net sales
in the fiscal
1997 third
quarter. Administrative
expense was
4.6 percent
of net sales
compared with
4.3 percent
of net sales
for the same
quarter last
year.
For
further information
on John B.
Sanfilippo
free of charge
via fax, simply
dial 1-800-PRO-INFO
and enter
"JBSS."