I've made significantly more money than I've spent on the admission fees... not posting my account books for public examination by everyone on FAA, so that's as much as I'll say.
Not getting rich, or anything, but I like doing the shows, so it's worth it. Getting the occasional ribbon is fun. Getting juror comments - if provided - on the art that doesn't make it into the show is usually worthwhile (and occasionally totally useless).
I guess it's a bit of a lottery in that you don't know how many other artists are going to enter, and that affects your chances of getting juried in -- most show venues only have a finite amount of wall space. Also, not all jurors have the same taste, so I can have one juror reject a piece, and another juror give it a ribbon.
I did lose my shirt on a juried art show on Long Island in NY... there were very exacting specifications for shipping the art, FedEx, to and from the gallery. I was pretty excited to get in, it was a really beautiful gallery. It was frustrating to live too far away to get to see the art show. That, and the shipping costs, totally cured me of any ambitions I may have had of showing anywhere that I can't easily drive to in my car...