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RECORD RESULTS FOR BUFFETS, INC. SECOND QUARTER 1993

 EDEN PRAIRIE, Minn., Aug. 2 /PRNewswire/ -- Clark C. Grant, vice president of finance, treasurer for Buffets, Inc. (NASDAQ: BOCB), reported that the second quarter of 1993 was the most profitable quarter in the history of the company.
 Second quarter (12 weeks) 1993, net earnings increased 29 percent to $5,142,000 from $3,981,000 in 1992. Earnings per share increased 31 percent to $.17 on 30,238,000 shares, compared to $.13 on 29,692,000 shares in 1992. Restaurant sales for the quarter increased 35 percent to $77,686,000 from $57,716,000 during the same quarter of 1992.
 For the 28 weeks ended July 14, 1993, net earnings increased 24 percent to $9,701,000 from $7,810,000 in the same period in 1992. Earnings per share increased 23 percent to $.32 from $.26 in the same period 1992. Restaurant sales for the 28 week period increased 29 percent to $166,112,000 from $128,616,000 in 1992.
 During the quarter, the company opened 10 new restaurants and converted 10 existing "straight-line" restaurants to the "scatter system" format.
 Since quarter end, the company has opened two new restaurants and converted an additional six "straight-line" restaurants and currently has 13 restaurants under construction.
 Thus far in 1993, the company has opened 21 new restaurants and expects to open an additional 19 new restaurants in the remainder of 1993 and to convert its remaining "straight-line" restaurants. In 1994 the company anticipates opening 50 new restaurants.
 The company currently operates 155 restaurants in 24 states and franchises six restaurants in two states.
 BUFFETS, INC. AND SUBSIDIARIES
 Financial Highlights
 (Unaudited)
 12 Weeks Ended Percent
 7/14/93 7/15/92 Increase
 Second quarter:
 Restaurant sales $77,686,000 $57,716,000 35
 Earnings before income taxes 8,497,000 6,592,000 29
 Net earnings $5,142,000 $3,981,000 29
 Earnings per common and
 common equivalent share $.17 $.13 31
 Weighted average shares 30,238,000 29,692,000 --
 28 Weeks Ended Percent
 7/14/93 7/15/92 Increase
 Year:
 Restaurant sales $166,112,000 $128,616,000 29
 Earnings before income taxes 16,071,000 12,931,000 24
 Net earnings $9,701,000 $7,810,000 24
 Earnings per common and
 common equivalent share $.32 $.26 23
 Weighted average shares 29,971,000 29,718,000 --
 -0- 8/2/93
 /CONTACT: Clark C. Grant, VP of finance, treasurer of Buffets, 612-942-9760/
 (BOCB)


CO: Buffets, Inc. ST: Minnesota IN: REA SU: ERN

AL -- MN006 -- 8212 08/02/93 09:12 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
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