J & J Snack Foods Corp. (Nasdaq:JJSF) today announced record sales and lower earnings for its second quarter and a loss for the six months ended March 31, 2001.

The Company said, however, that its earnings for the quarter of $.04 per diluted share exceeded the consensus street estimate of a loss of $.02 per diluted share.

Sales for the second quarter increased 13% to $76,807,000 from $67,813,000 in last year’s second quarter. Net earnings decreased 50% to $367,000 compared to $740,000 last year. Earnings per diluted share decreased 50% to $.04 based on 8,631,000 shares for the March quarter from $.08 based on 9,329,000 shares last year.

Operating income decreased 20 % to $1,268,000 this year from $1,585,000 in the year ago period.

For the six months ended March 31, 2001, sales increased 10% to $146,877,000 from $133,319,000 in last year’s first half. The Company had a net loss of $326,000 in the current six months compared to net earnings of $1,406,000 last year. Net loss per diluted share was $.04 based on 8,425,000 shares for the six months compared to net earnings of $.15 based on 9,355,000 shares last year.

Operating income decreased 73% to $ 830,000 from $3,119,000 in the year ago period.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “We are making progress with the issues that effected our performance in the first quarter and are hopeful of continued improvements.”

J & J Snack Foods Corp.’s principal products include SUPERPRETZEL soft pretzels, ICEE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE-UPS, Minute Maid and Hi-C frozen juice bars and ices, TIO PEPE’S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California.

Minute Maid and Hi-C are registered trademarks of The Coca-Cola Company. 

                    Three Months Ended          Six Months Ended

                    ——————          —————-

                   March 31,    March 25,     March 31,     March 25,

                     2001         2000          2001          2000

                     —-         —-          —-          —-


Net Sales        $76,807,000  $67,813,000  $146,877,000  $133,319,000

Net  Earnings

 (Loss)          $   367,000  $   740,000  $   (326,000) $  1,406,000

Earnings

 (Loss) Per

 Diluted Share   $       .04  $       .08  $       (.04) $        .15

Weighted

 Average

 Number of

 Diluted

 Shares            8,631,000    9,329,000     8,425,000     9,355,000

Earnings

 (Loss) Per

 Basic Share     $       .04  $       .08  $       (.04) $        .16

Weighted

 Average

 Number of

 Basic Shares      8,431,000    9,014,000     8,425,000     9,009,000

The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof.

The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof.