Another Record Quarter for J & J Snack Foods Corp.

Business Editors

PENNSAUKEN, N.J.--(BUSINESS WIRE)--July 24, 2002

J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record sales and earnings for its third quarter and nine months ended June 29, 2002.

Sales for the third quarter increased 9% to $109,561,000 from $100,970,000 in last year's third quarter. Net earnings increased 21% to $7,518,000 compared to $6,190,000 last year, not including $412,000 of after tax amortization expense associated with goodwill, last year. Earnings per diluted share increased 14% to $.80 based on 9,401,000 shares for the June quarter from $.70, not including $.05 per share of amortization expense associated with goodwill, based on 8,891,000 shares last year. Operating income increased 20% to $11,605,000 this year from $9,667,000 in the year ago period.

For the nine months ended June 29, 2002, sales increased 10% to $272,652,000 from $247,847,000 in last year's nine months. Net earnings increased 60% to $10,676,000 in the nine months from $6,687,000, not including $1,235,000 of after tax amortization expense associated with goodwill, last year. Earnings per diluted share increased 51% to $1.16 based on 9,213,000 shares for the nine months from $.77, not including $.14 per share of amortization expense associated with goodwill, based on 8,700,000 shares last year. Operating income increased 57% to $16,727,000 from $10,642,000 in the year ago period.

Gerald B. Shreiber, J & J's President and Chief Executive Officer, commented; "Continued strong showings in our core businesses, together with the success of our new pretzel products PRETZEL FILLERS and GOURMET TWISTS, contributed to our record quarter. In addition, we expanded our distribution channels with both existing and new products. We continue to benefit from lower interest costs resulting from our rapid paydown of debt. The ICEE Company had a strong quarter helped by service revenue growth. In addition, ICEE has begun to strategically lead our overall effort in business development with mass merchandisers and movie theatres for both snack and beverage sales. We expect this to have a favorable impact for the future. J & J Snack Foods has always demonstrated impeccable and accurate accounting standards as regards to its financial reporting obligations and will continue to do so. We will continue to do our utmost to justify the public's support and confidence in us."

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(a) 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.

(a) MINUTE MAID is a registered trademark of The Coca-Cola Company.

                    Three Months Ended          Nine Months Ended
                    ------------------          -----------------
                  June 29,      June 30,     June 29,       June 30,
                    2002         2001(b)       2002          2001(b)
                    ----         ----          ----          ----
Net Sales       $109,561,000  $100,970,000  $272,652,000  $247,847,000
Net Earnings    $  7,518,000  $  6,190,000  $ 10,676,000  $  6,687,000
Earnings Per
 Diluted
 Share          $        .80  $        .70  $       1.16  $        .77
Weighted
 Average
 Number
 of Diluted
 Shares            9,401,000     8,891,000     9,213,000     8,700,000
Earnings Per
 Basic Share    $        .85  $        .72  $       1.22  $        .79
Weighted
 Average
 Number of
 Basic Shares      8,840,000     8,540,000     8,730,000     8,463,000

(b) Net earnings and per share data is shown without the effect of amortization expense associated with goodwill.

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.