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CIATTI'S REPORTS FOURTH QUARTER, FISCAL 1993 RESULTS

 MINNEAPOLIS Sept. 10 /PRNewswire/ -- Ciatti's Inc. (NASDAQ: CIAT) today reported results for its fourth quarter and year ended June 27, 1993. The company lost $140,234 on sales of $5,676,848 for the fourth quarter compared with earnings of $5,553 on sales of $5,635,317 in the quarter ended June 28, 1992.
 For the year ended June 27, 1993, the net loss was $342,070, or $.42 per share, on sales of $22,359,435 versus earnings of $30,749, or $.04 per share, on sales of $20,935,398 for the year ended June 28, 1992.
 The fourth quarter results include a $166,000 reserve for the write down of assets at the Ciatti's Italian Restaurant in Madison, Wis. As previously announced, the restaurant will be converted into a Texas- style steakhouse during the first quarter of fiscal 1994. The new restaurant will be called Spurs Steakhouse and Saloon.
 The company indicated that fiscal 1993 earnings were lower than in the prior fiscal year due to lower revenue at some of its mature restaurants and the reserve for the Madison restaurant.
 CIATTI'S INC.
 Fourth Quarter and Fiscal Year
 Results of Operations
 Quarter Ended
 6/27/93 6/28/92
 Net sales $5,676,848 $5,635,317
 Net earnings (loss) $(140,234) $5,553
 Net earnings per share $(.17) $.00
 Weighted average number
 of common and common
 equivalent shares
 outstanding 805,118 813,315
 Year Ended
 6/27/93 6/28/92
 Net sales $22,359,435 $20,935,398
 Net earnings (loss) $(342,070) $30,749
 Net earnings per share $(.42) $.04
 Weighted average number
 of common and common
 equivalent shares
 outstanding 805,118 813,315
 -0- 9/10/93
 /CONTACT: Chris Collier, vice president finance of Ciatti's 612-941-0108/
 (CIAT)


CO: Ciatti's Inc. ST: Minnesota IN: REA SU: ERN

PB-DS -- MN012 -- 0910 09/10/93 17:06 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
Words:313
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