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DISCUS ANNOUNCES RESULTS FOR THE SECOND QUARTER OF 1993

 BLOOMINGTON, Minn., Aug. 10 /PRNewswire/ -- Discus Corporation, a Bloomington-based restaurant company today reported net income of $96,115 or $.04 per share for its second quarter ended June 27, 1993, compared to net income of $61,212 or $.03 per share for the second quarter of 1992. The second quarter of 1993 profit included an extraordinary gain of $90,760 or $.04 per share from settlement with the Resolution Trust Corporation (RTC) regarding the past due mortgage on the company's Greenfield, Wis. restaurant property. Restaurant sales increased 7.5 percent to $3,687,369 during the second quarter of 1993, from $3,430,901 during the same period in 1992, as the result of operating one additional restaurant in 1993.
 For the first six months of 1993 the company earned net income of $108,572 or $.05 per share compared to net income of $101,421 or $.05 per share for the same period in 1992. Sales increased 5.2 percent to $7,361,344 for the first six months of 1993 from $6,944,283 in the year ago period as the result of operating the one additional restaurant during 1993.
 After the settlement with the RTC, the company operated the Greenfield restaurant under a lease agreement until Aug. 8, 1993, at which date the restaurant was closed.
 On July 15, 1993, the company opened its fifth restaurant in Minneapolis/St. Paul area in the city of Cottage Grove, Minn.
 Discus Corporation operates ten Fuddruckers restaurants, five in Minneapolis and St. Paul; two in Milwaukee; two in St. Louis; and one in Omaha, Neb.
 DISCUS CORPORATION
 CONDENSED STATEMENT OF EARNINGS
 (In thousands except per share data)
 Second Quarter Ended
 6/27/93 6/28/92
 Restaurant sales $3,688 $3,431
 percent change 7.5
 Income before extraordinary item 5 61
 Extraordinary item 91 --
 Net income $96 $61
 Per share amounts:
 Income before extraordinary item -- $0.03
 Extraordinary item $0.04 --
 Net income $0.04 $0.03
 Six Months Ended
 6/27/93 6/28/92
 Restaurant sales $7,361 $6,994
 percent change 5.2
 Income before extraordinary item 18 101
 Extraordinary item 91 --
 Net income $109 $101
 Per share amounts:
 Income before extraordinary item $0.01 $0.05
 Extraordinary item $0.04 --
 Net income $0.05 $0.05
 -0- 8/10/93
 /CONTACT: Mike Platt or Steve Jones, 612-831-2326 ext. 228 or 227, both of Discus Corporation/


CO: Discus Corporation ST: Minnesota IN: LEI SU: ERN

DB -- MN008 -- 1215 08/10/93 12:59 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:418
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