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EDUCATION ALTERNATIVES REPORTS FIRST QUARTER OPERATING RESULTS

 MINNEAPOLIS, Nov. 15 /PRNewswire/ -- Education Alternatives, Inc. (NASDAQ: EAIN) today reported net earnings of $330,000 or $.04 per share, for the first quarter ended Sept. 30, 1993, compared to a net loss of $186,000, or $.05 per share, for the same quarter of the prior fiscal year. Revenue for the quarter ended Sept. 30, 1993, was $5,381,000 versus $5,155,000 for the quarter ended Sept. 30, 1992.
 John T. Golle, chairman and chief executive officer of the company, said he was pleased with the fiscal 1994 first quarter results. The net earnings reflect the results from the operation of our nine managed schools in Baltimore along with increased investment income generated from the company's May 1993


stock offering proceeds. The results also reflect increases in personnel, marketing and legal costs necessary to build sufficient infrastructure to support future growth as the company continues to pursue additional school management contracts.
 Education Alternatives, Inc., provides private management of public schools and sells proprietary products and consulting services to public and private schools. The company currently manages 11 schools under various management contracts with a total enrollment exceeding 5,000 students.
 EDUCATION ALTERNATIVES, INC.
 SUMMARIZED FINANCIAL DATA
 First Quarter Ended
 9/30/93 9/30/92
 Revenue $5,381,000 $5,155,000
 Operating loss (383,000) (228,000)
 Net earnings (loss) $330,000 $(186,000)
 Net earnings (loss) per share $.04 $(.05)
 Weighted average shares
 outstanding 7,986,480 4,022,676
 -0- 11/15/93
 /CONTACT: Frank L. Kuhar, chief financial officer, of Education Alternatives, 612-832-0092/
 (EAIN)


CO: Education Alternatives, Inc. ST: Minnesota IN: SU: ERN

DS-AL -- MN009 -- 4246 11/15/93 09:10 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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