Concorde Career Colleges announces financial results.

KANSAS CITY, Mo.--(BUSINESS WIRE)--April 28, 1997--Concorde Career Colleges Inc. (CCDC) announced financial results for the three months ended March 31, 1997.

A net profit of $505,000, or $.06 per share, was reported.

1997 Operating Results

Net income decreased $43,000, or 7.8%, to $505,000 for the three months ended March 1997 compared to $548,000 for the same period in 1996. The company benefited from a $313,000 gain from the sale of its Michigan building in January 1997. Net income available to common shareholders, after cumulative preferred dividends was $467,000 in 1997 compared to $488,000 in 1996.

Total revenue decreased 14.5% or $1,601,000 to $9,431,000 from $11,032,000 in 1996. During August 1996 the company sold the assets of its San Jose, Calif., school and Person/Wolinsky Associates, which offered review courses for the CPA exam. These sales, collectively the "Asset Sales," accounted for a reduction of $1,644,000 in revenue compared to 1996.

Revenue from the twelve operating schools increased slightly from a modest price increase in 1996. Student population at the twelve schools remained approximately the same as 1996.

Total operating expenses decreased $1,124,000, or 11.2% to $8,907,000 compared to $10,031,000 in 1996. The Asset Sales resulted in a decrease of $1,550,000 in operating expenses. Operating expenses for the twelve schools increased $426,000 primarily as a result of the following:

-- payroll increases due to additional salary expense and

increased staff;

-- occupancy increased as rent and insurance expense increased.

In addition, interest expense decreased $134,000 to $136,000 from $270,000 in 1996. The company accrued $158,000 in the first quarter of 1996 for an additional payment due Cencor. This accrual was eliminated in December 1996 as part of a refinancing.

Other

The company's Jacksonville school has been involved in litigation with some of its former students since 1993. On April 25, 1997, the company was notified that the plaintiffs' request for class certification was denied. The plaintiffs may appeal this decision. The company believes these suits are without merit, and will continue to defend against them vigorously. -0-

Concorde Career Colleges:

Three Months Ended March 31, 1997 and 1996

                                    1997              1996

Revenues                         $9,431,000        $11,032,000
Total operating expenses          8,907,000         10,031,000
Operating income                    524,000          1,001,000
Net income                          505,000            548,000
Primary earnings per share           $  .06             $  .06
Weighted average common & common
 share equivalents outstanding    8,537,000          7,645,000

Weighted average common and common share equivalents outstanding increased to 8,537,000 from 7,645,000. This increase is due to the dilutive effect of the company's incentive stock option plan. Primary earnings per weighted average common and common share equivalent (EPS) was $0.06 and $0.06 at March 31, 1997 and 1996, respectively.

Fully diluted earnings per share was $0.05 and $0.06 at March 31, 1997 and 1996 respectively. EPS is shown net of preferred stock dividends of $38,000 in 1997 and $60,000 in 1996. Dividends for the three months ending March 31, 1997 included $28,000 accrued dividends for Class A Preferred Stock and $10,000 imputed dividends for Class B Preferred Stock.

CONTACT: Concorde Career Colleges Inc., Kansas City

Jack L. Brozman or Gregg Gimlin, 816/474-8002