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JENNY CRAIG ANNOUNCES THIRD QUARTER RESULTS

 JENNY CRAIG ANNOUNCES THIRD QUARTER RESULTS
 DEL MAR, Calif., April 15 /PRNewswire/ -- Jenny Craig Inc.


(NYSE: JC) today announced its financial results for the third quarter ending March 31, 1992. Revenues for the quarter of $121,162,000 represented a 14 percent gain over revenues of $106,668,000 for the same period a year ago. The number of system wide weight loss centers also showed a 13 percent increase with 685 in operation at the end of the quarter compared to 606 last year. This was a result of opening 38 or 9 percent more company-owned centers and 41 or 21 percent more franchise centers since March 31, 1991.
 Operating income for the quarter also rose 13 percent to $21,805,000 compared to $19,381,000 the prior year. Income before extraordinary charge showed a 39 percent improvement to $13,518,000 against $9,759,000 last year. On a per share basis, the comparison was $.49 in 1992 vs. $.41 in 1991. This increase was because of interest savings from repayment of the company's debt, as well as the improvement in operating income.
 Sid Craig, chairman and chief executive officer said that the company had enjoyed a cash flow from operations of $47 million for the nine months ended March 31, 1992. He noted that with $50 million of cash on hand and no debt, Jenny Craig Inc. is in the strongest financial position in its history.
 For the nine months ended March 31, 1992, total revenues were $345,912,000, a gain of 15 percent over last year's revenues of $299,720,000. Operating income of $55,803,000 represented an increase of 24 percent over last year's $45,059,000. Income before extraordinary item increased 55 percent to $32,429,000 in 1992 compared to $20,937,000 in 1991. The per share comparison was $1.25 vs. $.87.
 "The company opened 19 centers primarily in Hartford, Cleveland, and Buffalo in the March quarter, while franchisees opened an additional 14 centers during the quarter," said Craig. "These new openings were very encouraging and we believe that the general economic recession is ending, so we are resuming our growth plan and expect to open approximately 100 centers, principally in the U.S., during fiscal 1993."
 Jenny Craig Inc. is one of the four largest weight loss service companies in the United States.
 JENNY CRAIG INC. AND SUBSIDIARIES
 Unaudited Consolidated Statements of Income
 (Dollars in Thousands, Except Per Share Data)
 Nine Months Ended Three Months Ended
 March 31, March 31,
 1992 1991 1992 1991
 Revenues:
 Company-owned
 operations $280,825 $251,376 $97,973 $88,246
 Franchise operations 65,087 48,344 23,189 18,422
 Total revenue 345,912 299,720 121,162 106,668
 Operating costs
 and expenses:
 Company-owned
 operations 232,490 211,031 79,532 71,517
 Franchise operations 42,179 32,260 14,178 12,195
 General and
 administrative
 expenses 15,440 11,370 5,647 3,575
 Operating income 55,803 45,059 21,805 19,381
 Interest (income)
 expense, net 2,521 10,203 (447) 3,252
 Income before taxes 53,282 34,856 22,252 16,129
 Provision for income
 taxes 20,853 13,919 8,734 6,370
 Income before
 extraordinary
 item $32,429 $20,937 $13,518 $9,759
 Extraordinary item:
 Charge on early
 repayment of debt, net 6,280 --- --- ---
 Net income $26,149 $20,937 $13,518 $9,759
 Per share amounts:
 Income before
 extraordinary
 item 1.25 .87 .49 .41
 Extraordinary item .24 --- --- ---
 Net income 1.01 .87 .49 .41
 Shares outstanding 27,500 24,000 27,500 24,000
 -0- 4/15/92
 /CONTACT: James Mallen, VP-Finance, Jenny Craig Inc., 619-259-7000/
 (JC) CO: Jenny Craig Inc. ST: California IN: SU: ERN


KJ-EH -- LA015 -- 8492 04/15/92 08:32 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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