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AMERICAN RECREATION CENTERS INC. REPORTS SECOND QUARTER RESULTS

AMERICAN RECREATION CENTERS INC. REPORTS SECOND QUARTER RESULTS
 SACRAMENTO, Calif., Dec. 16 /PRNewswire/ -- American Recreation Centers Inc. (NASDAQ: AMRC) today announced record revenues and earnings for the fiscal 1992 second quarter, including a non- recurring net after tax gain of $302,000, or $.06 per share.
 Net income for the three months ended Nov. 27, 1991, rose 60 percent to $873,000, equal to $.17 per share, from $546,000, or $.11 per share last year. Revenues rose 21 percent to $16,003,000 from $13,204,000 a year ago. The non-recurring net gain reflected the previously announced completion of the initial public offering by its subsidiary, The Right Start Inc. (NASDAQ: RTST), and a non-cash after tax write-down of the company's real estate investment in non- consolidated partnerships.
 For the six-month period net income advanced 89 percent to $1,240,000, equal to $.24 per share, from $656,000, or $.13 per share, a year ago. Revenues increased 28 percent to $32,839,000 from $25,577,000 in the year-earlier period.
 Second quarter operating revenues for the company's bowling division rose 10 percent over the prior-year period to $9,137,000, while operating profits advanced nearly 14 percent to $1,341,000. For the first half of the current fiscal year, operating profits advanced 37 percent to $2,002,000 on a 12 percent increase in revenues.
 Separately, the direct marketing subsidiary reported a 44 percent increase in second quarter revenues to $6,548,000, and a decline in net income to $266,000, or $.05 per share. For the year-to-date period, revenues rose 55 percent to $15,003,000, and net income increased 10 percent to $685,000, equal to $.14 per share.
 Robert A. Crist, president and chief executive officer of American Recreation Centers, said, "The outstanding performance of the bowling division reflects the benefits of aggressive marketing programs directed at promoting league and casual bowling. Contributions form the direct marketing subsidiary were impacted by the recessionary environment.
 "We continue to be optimistic about the long-term future of our company, and are pursuing both internal and external growth opportunities," Crist added.
 American Recreation Centers is a leader in both the bowling and direct marketing industries. The company's bowling division operates 27 bowling centers, 21 in California and 6 in Texas with an aggregate 1,134 lanes. In addition, the direct marketing division's Right Start Inc. is one of the nation's most successful direct marketers of top-quality products for infants and children through age five.
 AMERICAN RECREATION CENTERS INC.
 Consolidated Statement of Income and Retained Earnings
 (In thousands, except per share amounts)
 (Unaudited)
 13 weeks ended Twenty-six weeks ended
 Nov. 27, Nov. 28, Nov. 27, Nov. 28,
 1991 1990 1991 1990
 Operating revenues:
 Bowling $9,137 $8,318 $17,193 $15,349
 Direct marketing 6,548 4,563 15,003 9,599
 Other 318 323 643 629
 Total 16,003 13,204 32,839 25,577
 Operating, general &
 administrative
 expenses:
 Bowling 7,796 7,139 15,191 13,883
 Direct marketing 6,206 4,053 14,035 8,504
 Other 255 183 460 332
 Corporate 307 307 560 532
 Total 14,564 11,682 30,246 23,251
 Operating income 1,439 1,522 2,593 2,326
 Interest expense (621) (653) (1,225) (1,281)
 Other income 197 76 301 130
 Gain on sale of stock
 by subsidiary 7,583 --- 7,583 ---
 Losses of non-
 consolidated partner-
 ships (7,111) (58) (7,162) (109)
 Income before pro-
 vision for income
 taxes 1,487 887 2,090 1,066
 Provision for income
 taxes 565 341 801 410
 Total 922 546 1,289 656
 Minority interest in
 consolidated sub-
 sidiary 49 --- 49 ---
 Net income $873 $546 $1,240 $656
 Earnings per share (on
 a primary and fully-
 diluted basis) $.17 $.11 $.24 $.13
 Weighted-average shares
 outstanding:
 Primary 5,114,866 4,907,238 5,085,017 4,907,238
 Fully-diluted 5,072,285 4,907,238 5,072,285 4,907,238
 -0- 12/16/91
 /CONTACT: Robert A. Crist, president and CEO of American Recreation Centers, 916-852-8005; or Elizabeth Gard or Roger S. Pondel of Rifkind Pondel & Parsons, 310-207-9300, for American Recreation/
 (AMRC RTST) CO: American Recreation Centers Inc. ST: California IN: SU: ERN


SE-EH -- LA004 -- 2405 12/16/91 09:46 EST
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Date:Dec 16, 1991
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