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CHOCK FULL O' NUTS REPORTS 4TH QUARTER, YEAR RESULTS

 NEW YORK, Oct. 8 /PRNewswire/ -- Chock full o' Nuts Corporation (NYSE: CHF) reported today that it has taken a special charge of $3.6 million in the fourth quarter for consolidation and closing of certain facilities, and as a result, posted losses for the quarter and the year ended July 31, 1993.
 "The progress we have made in our operations isn't immediately evident because of the special charges in the quarter and year," Marvin I. Hass, Chief Executive Officer, said. "Excluding these charges, we earned 10 cents per share in the quarter, compared to a loss of 3 cents per share a year earlier, and we earned 36 cents for the year, compared to a loss of 10 cents in 1992."
 Chock reported that its continuing operations in the fourth quarter, after special charges of $4.4 million, or 27 cents per share (after income tax benefits) resulted in a loss of $1.8 million, or 17 cents per share. In the year earlier quarter, after charges of $7.5 million, or 49 cents per share, Chock reported a loss from continuing operations of $5.3 million, or 52 cents per share, after income tax benefits. Net sales in the quarter were $67.9 million, up from $51.5 million a year earlier.
 In fiscal 1993, after the aforementioned charges of 27 cents per share, continuing operations earned $915,000, or 9 cents per share, compared to a loss from continuing operations, after the aforementioned charge of 49 cents per share, of $6.0 million, or 59 cents per share in the previous year. Sales were $251.6 million, compared to $203.6 million in fiscal 1992.
 Chock reported its peanut operations as discontinued operations, which were sold during the year. A loss of $2.1 million, or 20 cents per share, consisting of a $3.2 million loss on disposition partially offset by earnings of $1.1 million, is included in the 1993 figures. In the previous year, earnings of $1.9 million, or 19 cents per share, is included, with earnings of $486,000, or 5 cents per share, of that amount in the fourth quarter.
 The $4.4 million charge in fiscal 1993 consisted of the $3.6 million for consolidation and closing of facilities and a previously announced charge of $800,000 for officers' termination benefits. In 1992, such charges consisted of $5.5 million of consolidation costs and $2.0 million for officers' termination benefits.
 Chock full o' Nuts roasts, packs, and markets regular, instant and decaffeinated coffees under the Chock full o' Nuts label. It best-known coffee product is its premium, vacuum-packed, all- method grind coffee. The Company is also one of the largest marketers of food service and private label coffees, teas and related products.
 CHOCK FULL O' NUTS CORPORATION
 SUMMARY FINANCIAL INFORMATION
 Year Ended July 31
 1993 1992
 Net sales $251,641,000 $203,640,000
 Income/(loss) from
 continuing operations (a) $ 915,000 $ (5,969,000)
 Net (loss) (b) $ (1,154,000) $ (4,059,000)
 Earnings/(loss) per share
 Continuing operations (a) $ .09 $ (.59)
 Discontinued operations (b) $ (.20) $ .19
 Net (loss) $ (.11) $ (.40)
 Three Months Ended July 31
 1993 1992
 Net sales $ 67,875,000 $ 51,478,000
 (Loss) from continuing
 operations (a) $ (1,789,000) $ (5,296,000)
 Net (loss) $ (1,789,000) $ (4,955,000)(b)
 Earnings/(loss) per share
 Continuing operations (a) $ (.17) $ (.52)
 Discontinued operations $ .05 (b)
 Net (loss) $ (.17) $ (.47)
 (a) Includes restructuring charge in 1993 and 1992, respectively, of $2,232,000 ($.22 per share) and $3,630,000 ($.36 per share) and officers' termination benefits in 1993 and 1992, respectively, of $507,000 ($.05 per share) and $1,303,000 ($.13 per share), each net of income tax benefits.
 (b) Includes in the year ended July 31, 1993 loss from the disposition of peanut operations of $3,171,000 ($.31 per share) partially offset by income of such operations of $1,103,000, ($.11 per share), and in the year and three months ended July 31, 1992, respectively, income from such operation of $1,910,000 and $468,000 ($.19 per share and $.05 per share), each income from operations net of income taxes.
 -0- 10/8/93
 /CONTACT: Howard Leitner, President and Chief Financial Officer of Chock full o' Nuts, 212-532-0300/
 (CHF)


CO: Chock full o' Nuts Corporation ST: New York IN: FOD SU: ERN

LG -- NY005 -- 0043 10/08/93 09:17 EDT
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Date:Oct 8, 1993
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