J&J Snack Foods (JJSF) 8-K J & J Snack Foods Reports First Quarter Sales and Earnings

Exhibit 99.1

J & J Snack Foods Reports First Quarter Sales and Earnings

PENNSAUKEN, N.J.--(BUSINESS WIRE)--January 22, 2009--J & J Snack Foods Corp. (NASDAQ-JJSF) today announced record sales and increased earnings for the first quarter ended December 27, 2008.

Sales increased 8% to $141.1 million from $130.9 million in last year’s first quarter. Net earnings increased 128% to $4.3 million in the current quarter from $1.9 million last year. Earnings per diluted share were $.23 for the first quarter compared to $.10 last year. Operating income increased 192% to $6.8 million in the current quarter from $2.3 million in the year ago quarter.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented, “While the overall general economy remains a present concern, we are gratified by our quarter’s overall performance. Improved results from each of our major business groups, food service, retail supermarkets and frozen beverages, contributed to the increased earnings in the period.”

J & J Snack Foods Corp.’s principal products include SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH PUPPIE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices, WHOLE FRUIT sorbet, FRUIT-A-FREEZE frozen fruit bars, MARY B’S biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has manufacturing facilities in Pennsauken, Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri; Pensacola, Florida and Vernon and Newport, California.

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

**BARQ’S is a registered trademark of Barq’s Inc.

	Consolidated Statement of Operations
	Three Months Ended
	December 27,		December 29,
	2008		2007
	(unaudited)
	(in thousands)
Net sales	$	141,142	$	130,898
Cost of goods sold		100,460		95,511
Gross profit		40,682		35,387
Operating expenses		33,851		33,051
Operating income		6,831		2,336
Other income		432		779
Earnings before income taxes		7,263		3,115
Income taxes		2,944		1,218
Net earnings	$	4,319	$	1,897
Earnings per diluted share	$.23		$.10
Earnings per basic share	$.23		$.10
Weighted average number of diluted shares		18,774		19,076
Weighted average number of basic shares		18,616		18,769

	Consolidated Balance Sheets
	December 27, 2008		September 27, 2008
	(in thousands)
Cash & cash equivalents	$	37,028	$	44,265
Current marketable securities held to maturity		13,195		2,470
Current auction market preferred stock		19,900		14,000
Other current assets		105,890		116,465
Property, plant & equipment, net		91,898		93,064
Goodwill		60,314		60,314
Other intangible assets, net		52,506		53,633
Long-term auction market preferred stock		-		21,200
Long-term marketable securities held to maturity		5,200		-
Other		2,580		2,997
Total	$	388,531	$	408,408
Current liabilities	$	57,063	$	66,194
Long-term obligations under capital leases		357		381
Deferred income taxes		23,056		23,056
Other long-term obligations		1,955		1,999
Stockholders’ equity		306,100		316,778
Total	$	388,531	$	408,408

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.

CONTACT:
J & J Snack Foods Corp.
Dennis G. Moore
Senior Vice President
Chief Financial Officer
856-532-6603