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SOUTHWEST CAFES ANNOUNCES FIRST QUARTER PROFIT IMPROVEMENT

 SOUTHWEST CAFES ANNOUNCES FIRST QUARTER PROFIT IMPROVEMENT
 DALLAS, Sept. 23 /PRNewswire/ -- Southwest Cafes, Inc. (NASDAQ: TXMX) today announced financial results for its first quarter ended Aug. 24, 1992. Net income for the 12-week quarter improved 33 percent to $688,000, or $0.16 per share, from $516,000, or $0.12 per share, a year earlier. The company attributed the improvement principally to reduced general and administrative expenses. Chief Financial Officer, Lawrence E. White, explained," We have made some substantial reductions in overhead, while reinvesting part of these savings in the restaurants in the form of product improvements, staffing and training."
 Revenues for the quarter were $21 million compared with $21.5 million a year ago. Company-owned restaurant sales were $20.1 million, down slightly from $20.2 million last year, resulting from the net effect of decreases from closings of two restaurants in May and lower sales in certain concept restaurants, and increases from full quarter operation of Texana Grill and slightly higher comparable El Chico restaurant sales. Sales in comparable franchised El Chico restaurants were 7.9 percent higher than a year ago.
 J. Michael Jenkins, chairman of the board and chief executive officer, commented, "We are very pleased to report these positive results. The quarter saw important steps toward reestablishing the El Chico concept as our growth vehicle, including introduction of a new menu, beginning of a system-wide remodeling program for company-owned restaurants, conversion of three existing concept restaurants into El Chico restaurants, and the start of construction of our new prototype restaurant in Tyler, Texas. Additionally, another El Chico restaurant is scheduled to begin construction in October in Jackson, Tenn.
 Southwest Cafes, Inc., owns and franchises a group of 88 full- service Mexican and other concept restaurants in 12 states throughout the Southern and Southwestern regions of the United States.
 SOUTHWEST CAFES, INC.
 (In Thousands Except Per Share Amounts)
 12 Weeks Ended 12 Weeks Ended
 Aug. 24, 1992 Aug. 19, 1991
 Total revenue $21,033 $21,457
 Sales from company-
 owned restaurants $20,075 $20,213
 Income before income
 taxes $ 1,088 $ 803
 Net income $ 688 $ 516
 Net income per common
 share $ 0.16 $ 0.12
 Weighted average shares
 outstanding 4,434,547 4,292,828
 -0- 9/23/92
 /CONTACT: Lawrence E. White, chief financial officer of Southwest Cafes, 214-241-5500/
 (TXMX) CO: Southwest Cafes, Inc. ST: Texas IN: LEI SU: ERN


PS -- NY085 -- 2851 09/23/92 17:37 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
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