<SUBMISSION>
<ACCESSION-NUMBER>0000950144-06-001716
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060302
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20060302
<DATE-OF-FILING-DATE-CHANGE>20060302
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ALEXANDERS J CORP
<CIK>0000103884
<ASSIGNED-SIC>5812
<IRS-NUMBER>620854056
<STATE-OF-INCORPORATION>TN
<FISCAL-YEAR-END>0103
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-08766
<FILM-NUMBER>06659890
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3401 WEST END AVE
<STREET2>P O BOX 24300
<CITY>NASHVILLE
<STATE>TN
<ZIP>37203
<PHONE>6152691900
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3401 WEST END AVE
<STREET2>SUITE 260
<CITY>NASHVILLE
<STATE>TN
<ZIP>37203
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VOLUNTEER CAPITAL CORP / TN /
<DATE-CHANGED>19920703
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>WINNERS CORP
<DATE-CHANGED>19890910
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VOLUNTEER CAPITAL CORP
<DATE-CHANGED>19820520
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g99891e8vk.htm
<DESCRIPTION>J. ALEXANDER'S CORPORATION - FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>J. ALEXANDER'S CORPORATION - FORM 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 10pt"><HR size="1" noshade width="26%" align="center" color="#000000">



<P align="center" style="font-size: 10pt"><B>CURRENT REPORT</B>



<P align="center" style="font-size: 10pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt">Date of Report (Date of
earliest event reported): March&nbsp;2, 2006 (March 2, 2006)


<P align="center" style="font-size: 24pt"><B>J. ALEXANDER&#146;S CORPORATION<BR>
<HR size="1" noshade width="100%" align="center" color="#000000"></B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Tennessee
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-08766
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">62-0854056</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3401 West End Avenue, Suite&nbsp;260, P.O. Box 24300, Nashville, Tennessee 37202<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Address of principal executive offices) (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">(615)&nbsp;269-1900<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Registrant&#146;s telephone number, including area code)</DIV>



<P align="center" style="font-size: 10pt">Not Applicable<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Former name or former address, if changed since last report)</DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General
Instruction A.2. below):

<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act
(17 CFR 230.425)


<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17
CFR 240.14a-12)


<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))


<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
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</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;2.02. Results of Operations and Financial Condition.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g99891exv99w1.txt">EX-99.1 PRESS RELEASE 03/02/06</A></TD></TR>
</TABLE>
</CENTER>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;2.02. Results of Operations and Financial Condition." -->
<DIV align="left"><A NAME="000"></A></DIV>


<P align="left" style="font-size: 10pt"><B>Item&nbsp;2.02. Results of Operations and Financial Condition.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March&nbsp;2, 2006, J. Alexander&#146;s Corporation issued a press release announcing its financial
results for the fourth quarter and year ended January&nbsp;1, 2006, the text of which is set forth in
Exhibit&nbsp;99.1.

<!-- link2 "Item&nbsp;7.01. Regulation&nbsp;FD Disclosure." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J.&nbsp;Alexander&#146;s Corporation&#146;s press release announcing its financial results for the fourth
quarter and year ended January&nbsp;1, 2006 is furnished as Exhibit&nbsp;99.1.

<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Exhibits:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibit is furnished herewith:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated March 2, 2006.


<P align="center" style="font-size: 10pt">2
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date:  March 2, 2006&nbsp;</TD>
    <TD colspan="3" align="left">J. ALEXANDER&#146;S CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/  R. Gregory Lewis
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">R. Gregory Lewis&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer, Vice
President of Finance and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">3
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
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    <TD width="6%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press
Release issued by J. Alexander&#146;s Corporation dated March&nbsp;2,
2006</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>g99891exv99w1.txt
<DESCRIPTION>EX-99.1 PRESS RELEASE 03/02/06
<TEXT>
<PAGE>
                                                                    EXHIBIT 99.1



FOR IMMEDIATE RELEASE                              CONTACT:  R. Gregory Lewis
---------------------                                        (615) 269-1900



                       J. ALEXANDER'S CORPORATION REPORTS
                  FOURTH QUARTER AND YEAR END RESULTS FOR 2005


         NASHVILLE, TN., March 2, 2006 -- J. Alexander's Corporation (AMEX: JAX)
today announced operating results for its fourth quarter and year ended January
1, 2006.

         Highlights for the 13-week fourth quarter of 2005 compared to the
14-week fourth quarter of 2004 were as follows:

-        Net sales were $33.5 million in both periods.

-        Weighted average weekly same store sales, adjusted for
         hurricane-related closure days, increased 4.4%.

-        Income before income taxes decreased to $1.4 million from $1.7 million.

-        Net income was $1.2 million, or $.18 per diluted share, compared to
         $3.0 million, or $.45 per diluted share in 2004. Net income for 2005
         included a favorable adjustment of $122,000, or $.02 per diluted share,
         to the Company's income tax provision related to a reduction in the
         Company's valuation allowance for deferred tax assets. Net income for
         2004 included a similar adjustment of $1.5 million, or $.23 per diluted
         share.

-        The Company opened its 28th J. Alexander's restaurant.

         Highlights for the 52-week 2005 fiscal year compared to the 53-week
2004 fiscal year were as follows:

-        Net sales increased 3.0% to $126.6 million.

-        Weighted average weekly same store sales, adjusted for
         hurricane-related closure days, increased 3.9%.

-        Income before income taxes totaled $4.4 million for both periods.

<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 2


-      Net income was $3.6 million, or $.52 per diluted share, compared to $4.8
       million, or $.71 per diluted share in 2004. Net income for 2005 included
       a favorable adjustment of $122,000, or $.02 per diluted share, to the
       Company's income tax provision related to a reduction in the Company's
       valuation allowance for deferred tax assets. Net income for 2004 included
       a similar adjustment of $1.5 million, or $.23 per diluted share.

         Commenting on the Company's performance, Lonnie J. Stout II, Chairman,
President and Chief Executive Officer, said, "Our results for 2005 were impacted
by several factors. These included one less operating week, the effects of a
severe hurricane season, and pre-opening expenses along with initial operating
losses from the opening of our new restaurant in Nashville. While some of these
factors were outside our control, we were nonetheless disappointed that we did
not achieve all of our operating objectives."

         Stout noted that, even after adjustment for the effects of hurricanes,
the Company's weekly average same store sales increase for the year was slightly
below the Company's business plan objective. Net sales were also below
expectations due to a delay in the opening of the Company's newest J.
Alexander's restaurant in Nashville.

         "Our restaurant operating expenses were higher than expected due to
significant increases in utility costs, along with cost increases in several
other operating expense categories," Stout explained. Despite the increases in
operating expenses, Stout said the Company was able to lower cost of sales as a
percentage of net sales primarily as a result of changes in pricing format and
increases in menu prices during the year.

         The Company estimates that net sales lost from the effect of hurricanes
were approximately $365,000 in the fourth quarter of 2005 and $465,000 for
fiscal year 2005. This compares to estimated net sales losses from hurricanes of
$300,000 in the third


<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 3


quarter of 2004. Net income for both the fourth quarter and full year of 2005
were reduced by an estimated $.02 per diluted share related to the effect of
hurricanes. Net income for 2004 included an estimated loss of $.01 per diluted
share related to hurricanes. Approximately $2.5 million of net sales were
recorded in the extra week included in the 2004 fiscal year.

         Weekly average same store sales for the 13 weeks ended January 1, 2006
compared to the comparable 13 weeks ended January 2, 2005 increased by 3.9%,
after adjustment for the hurricane-related closure days for both periods. The
increase for the comparable 13 week periods without adjustment for days the
Company's restaurants were closed was 2.7%. Same store sales calculations are
based on 27 restaurants open for more than 18 months.

         Average weekly guest counts for the most recent quarter, adjusted for
the hurricane-related closures, decreased by less than 1%. The Company's check
average, including alcoholic beverage sales, increased approximately 6%. Average
weekly sales per restaurant for the fourth quarter of 2005 increased 4.9% to
$92,200 from $87,900 posted for the fourth period of the prior year.

         Income before income taxes for the fourth quarter of 2005 included
$296,000 of pre-opening expenses and fiscal year 2005 included $411,000 of
pre-opening expenses, while no pre-opening expenses were incurred in 2004.
Income before income taxes also included income of $532,000 and $166,000 for the
fourth quarters of 2005 and 2004, respectively, related to reductions in
liabilities for gift certificates and cards which, although they do not expire,
management believes are only remotely likely to be


<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 4


redeemed. The Company's 2004 fourth quarter and full year pre-tax results also
included a gain of $117,000 on a settlement of a real estate eminent domain
proceeding.

         Stout pointed out that although pressure on operating margins was
considerable in 2005, the Company was successful in building same store sales by
increasing guest check average while, at the same time, maintaining acceptable
guest counts. "This momentum has carried over to 2006," he said, "and our
projected operating results for the first quarter of 2006 are very encouraging.
Our same store sales were up almost 5% for the first eight weeks of 2006
compared to the same period of 2005."

         Stout noted that the Company's food cost outlook is relatively stable,
but that beef prices will increase under the Company's recently completed annual
beef pricing agreement which will be effective in March. The Company expects its
costs for beef tenderloins and prime rib to increase by approximately $400,000
annually under the new agreement, while an increase in the price of strip loins
is expected to be offset by a change in specifications to allow for more
efficient cutting yields. Stout said the Company expects to raise menu prices on
prime rib and some steaks to compensate for the higher input costs.

         "We are constantly monitoring our restaurant margins and will continue
to carefully consider menu price increases to maintain or improve them," Stout
observed. He emphasized that rising utility costs are continuing to impact
operating expenses in the first quarter of 2006.

         According to the J. Alexander's CEO, the Company's newest restaurant in
Nashville, Tennessee has been performing well since opening last fall and is
expected to make a positive contribution in the current year. The Company
continues to actively seek


<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 5


new J. Alexander's restaurants, with this effort being lead by Rick Carson,
director of real estate, a veteran restaurant real estate executive who joined
the Company last July. While no new J. Alexander's restaurants are expected to
open in 2006, the Company's goal is to open two new locations in 2007.

         Stout said the Company expects same store sales growth for 2006 to
remain in the 3% to 5% range. He said the Company also anticipates an increase
in net income due to improved restaurant margins and profit contributed by the
new J. Alexander's restaurant opened in October of 2005, and because no
pre-opening expenses are expected to be incurred in 2006.

         J. Alexander's Corporation presently owns 28 J. Alexander's
contemporary, upscale, American casual dining restaurants which place a special
emphasis on food quality and professional service. The Company's restaurants are
located in Alabama, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky,
Louisiana, Michigan, Ohio, Tennessee and Texas. The Company is based in
Nashville, Tennessee.

         This press release contains forward-looking statements that involve
risks and uncertainties. Actual results, performance or developments could
differ materially from those expressed or implied by those forward-looking
statements as a result of known or unknown risks, uncertainties and other
factors. These risks, uncertainties and factors include the Company's ability to
increase sales and operating margins in its restaurants; changes in business or
economic conditions, including rising food costs and product shortages;
availability of qualified employees; increased cost of utilities, insurance and
other restaurant operating expenses; potential fluctuations of quarterly
operating results due to seasonality and other factors; the effect of hurricanes
and other weather disturbances which are beyond the control of the Company; the
number and timing of new restaurant openings and the Company's ability to
operate them profitably; competition within the casual dining industry, which is
very intense; competition by the Company's new restaurants with its existing
restaurants in the same vicinity; changes in consumer spending, consumer tastes,
and consumer attitudes toward nutrition and health; expenses incurred if the
Company is the subject of claims or litigation or increased governmental
regulation; changes in accounting standards, which may affect the Company's
reported results of operations; and expenses the Company may incur in order to
comply with changing corporate governance and public disclosure requirements of
the Securities and Exchange Commission and the American Stock Exchange. These as
well as other factors are discussed in detail in the Company's filings made with
the Securities and Exchange Commission and other communications.




<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 6


J. ALEXANDER'S CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)


<TABLE>
<CAPTION>
                                                         Quarter Ended                   Year Ended
                                                         -------------                   ----------
                                                     JAN. 1         Jan. 2         JAN. 1          Jan. 2
                                                      2006           2005           2006            2005
                                                    --------       --------       ---------       ---------
                                                   (13 WEEKS)     (14 weeks)      (52 WEEKS)     (53 weeks)
<S>                                                 <C>            <C>            <C>             <C>
Net sales ....................................      $ 33,466       $ 33,488       $ 126,617       $ 122,918

Costs and expenses:
   Cost of sales .............................        11,012         11,187          41,710          41,324
   Restaurant labor and related costs ........        10,276         10,237          39,860          38,597
   Depreciation and amortization of restaurant
     property and equipment ..................         1,255          1,218           4,835           4,703
   Other operating expenses ..................         6,516          6,362          24,639          23,361
                                                    --------       --------       ---------       ---------
     Total restaurant operating expenses .....        29,059         29,004         111,044         107,985

General and administrative expenses ..........         2,336          2,280           9,081           8,568
Pre-opening expense ..........................           296             --             411              --
Gain on involuntary property conversion ......            --            117              --             117
                                                    --------       --------       ---------       ---------
Operating income .............................         1,775          2,321           6,081           6,482
Other income (expense):
   Interest expense, net .....................          (440)          (556)         (1,770)         (2,130)
   Other, net ................................            16            (18)            114              26
                                                    --------       --------       ---------       ---------
     Total other expense .....................          (424)          (574)         (1,656)         (2,104)
                                                    --------       --------       ---------       ---------


Income before income taxes ...................         1,351          1,747           4,425           4,378
Income tax provision (benefit):
   Current ...................................           693            602           1,772           1,444
   Deferred ..................................          (567)        (1,888)           (907)         (1,888)
                                                    --------       --------       ---------       ---------
     Total ...................................           126         (1,286)            865            (444)
                                                    --------       --------       ---------       ---------


Net income ...................................      $  1,225       $  3,033       $   3,560       $   4,822
                                                    ========       ========       =========       =========

Earnings per share:
   Basic earnings per share ..................      $    .19       $    .47       $     .55       $     .75
                                                    ========       ========       =========       =========
   Diluted earnings per share ................      $    .18       $    .45       $     .52       $     .71
                                                    ========       ========       =========       =========

Weighted average number of shares:
   Basic earnings per share ..................         6,524          6,455           6,489           6,446
   Diluted earnings per share ................         6,836          6,769           6,814           6,781
</TABLE>



<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 7


J. ALEXANDER'S CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
PERCENTAGES OF NET SALES

<TABLE>
<CAPTION>
                                                                   Quarter Ended                 Year Ended
                                                                   -------------                 ----------
                                                               JAN. 1         Jan. 2         JAN. 1       Jan. 2
                                                                2006           2005           2006         2005
                                                                ----           ----           ----         ----
                                                             (13 weeks)     (14 weeks)     (52 weeks)   (53 weeks)

<S>                                                          <C>            <C>            <C>         <C>
Net sales..............................................         100.0%         100.0%         100.0%      100.0%

Costs and expenses:
   Cost of sales.....................................            32.9           33.4           32.9        33.6
   Restaurant labor and related costs................            30.7           30.6           31.5        31.4
   Depreciation and amortization of restaurant
     property and equipment..........................             3.8            3.6            3.8         3.8
   Other operating expenses..........................            19.5           19.0           19.5        19.0
                                                                 ----           ----           ----        ----
     Total restaurant operating expenses.............            86.8           86.6           87.7        87.9

General and administrative expenses..................             7.0            6.8            7.2         7.0
Pre-opening expense..................................             0.9             --            0.3          --
Gain on involuntary property conversion..............              --            0.3             --         0.1
                                                                -----            ---          -----         ---
Operating income.....................................             5.3            6.9            4.8         5.3
Other income (expense):
   Interest expense, net............................             (1.3)          (1.7)          (1.4)       (1.7)
   Other, net........................................              --           (0.1)           0.1          --
                                                                -----           ----            ---        ----
     Total other expense.............................            (1.3)          (1.7)          (1.3)       (1.7)
                                                                                ----           ----        ----

Income before income taxes...........................             4.0            5.2            3.5         3.6

Income tax provision (benefit):
   Current...........................................             2.1            1.8            1.4         1.2
   Deferred  ........................................            (1.7)          (5.6)          (0.7)       (1.5)
                                                                 ----          ------          ----        -----
     Total...........................................             0.4           (3.8)           0.7        (0.4)
                                                                -----          -----          -----        -----
Net income...........................................             3.7%           9.1%           2.8%        3.9%
                                                                =====          =====          =====       =====
Note:  Certain percentage totals do not sum due to rounding.


AVERAGE WEEKLY SALES INFORMATION:

Average weekly sales per restaurant..................         $92,200        $87,900        $89,300     $85,800
     Percent increase................................            +4.9%                         +4.1%

Same store weekly sales per restaurant (1)...........         $91,800        $87,900        $90,000     $86,600
     Percent increase................................            +4.4%                         +3.9%
</TABLE>


(1) Includes the twenty-seven restaurants open for more than eighteen months.




<PAGE>

J. Alexander's Corporation Reports Fourth Quarter and Year End Results
for 2005 - 8


J. ALEXANDER'S CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(DOLLARS IN THOUSANDS)

<TABLE>
<CAPTION>
                                                  JANUARY 1    January 2
                                                    2006         2005
                                                    ----         ----
<S>                                               <C>          <C>
                                 ASSETS

Current Assets
      Cash and cash equivalents .............      $ 8,200      $ 6,129
      Deferred income taxes .................        1,170        1,327
      Other current assets ..................        4,542        4,501
                                                   -------      -------
         Total current assets ...............       13,912       11,957

Other assets ................................        1,164        1,122
Property and equipment, net .................       74,187       72,425
Deferred income taxes .......................        4,304        3,236
Deferred charges, net .......................          733          814
                                                   -------      -------
                                                   $94,300      $89,554
                                                   =======      =======



         LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities .........................      $12,244      $11,392
Long-term debt and capital lease obligations        23,193       24,017
Other long-term liabilities .................        5,103        4,543
Stockholders' equity ........................       53,760       49,602
                                                   -------      -------
                                                   $94,300      $89,554
                                                   =======      =======
</TABLE>



                                       ###

</TEXT>
</DOCUMENT>
</SUBMISSION>
