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SPAGHETTI WAREHOUSE REPORTS RECORD PROFITS AND REVENUES FOR THE THIRD QUARTER OF FISCAL 1992

 SPAGHETTI WAREHOUSE REPORTS RECORD PROFITS
 AND REVENUES FOR THE THIRD QUARTER OF FISCAL 1992
 GARLAND, Texas, May 1 /PRNewswire/ -- Spaghetti Warehouse, Inc., (NYSE: SWH) which is traded on the New York Stock Exchange, today announced results for the 13 weeks ended April 4, 1992.
 Revenues for the 13 weeks ended April 4, 1992 were $13.9 million, a 24.7 percent increase over revenue of $11.1 million for the 13-week period ended March 30, 1991. Net income for the quarter was up 30.4 percent from $1,185,337 last year to $1,546,061 this year. Both primary and fully diluted earnings per share were $0.24 this year compared to $0.23 last year.
 For the 40 weeks ended April 4, 1992, revenues were $40.3 million, a 28.9 percent increase over revenues of $31.2 million for the 39-week period ended March 30, 1991. Net income for the 40 weeks was up 42.6 percent at $4,041,841 compared with last year's $2,834,705. Both primary and fully diluted earnings per share for the 40 weeks were $0.62 this year compared to $0.56 for the 39-week period last year.
 The 19-year-old company operates a chain of 23 restaurants in Texas, Ohio, Florida, Tennessee, Georgia, New York, Pennsylvania, Oklahoma, Arkansas, North Carolina, Rhode Island, South Carolina, Indiana and Virginia. Construction is now underway on new units in Cleveland, Ohio and Tulsa, Okla. for scheduled openings in the fourth quarter of fiscal 1992. Construction has also begun on a new restaurant in Greenville, S.C. for scheduled opening in the first quarter of the next fiscal year, which will be the first of eight planned openings during that year. The restaurants, which operate under the name "The Spaghetti Warehouse", feature value-priced, classic Italian food in a casual "All American" atmosphere.
 SPAGHETTI WAREHOUSE, INC. AND SUBSIDIARIES
 Consolidated Statements of Earnings
 (Unaudited)
 Periods ended 40 weeks 39 weeks 13 weeks 13 weeks
 4/4/92 3/30/91 4/4/92 3/30/91
 Revenues $40,261,562 $31,243,571 $13,880,477 $11,130,338
 Costs and expenses:
 Cost of sales 9,701,151 7,618,946 3,254,601 2,680,536
 Operating
 expenses 18,428,440 14,055,232 6,285,545 4,961,065
 General and
 administrative
 expenses 4,850,434 4,022,628 1,637,208 1,352,952
 Depreciation
 and
 amortization 2,260,616 1,568,936 817,717 548,405
 Interest expense -- 380,834 -- 142,006
 Total costs
 and expenses 35,240,641 27,646,576 11,995,071 9,684,964
 Income before
 income taxes 5,020,921 3,596,995 1,885,406 1,445,374
 Income tax expense
 (benefit):
 Current 1,572,301 755,577 538,051 290,224
 Deferred (593,221) 6,713 (198,706) (30,187)
 Total 979,080 762,290 339,345 260,037
 Net income $ 4,041,841 $ 2,834,705 $ 1,546,061 $ 1,185,337
 Net income per
 common share:
 Primary $.62 $.56 $.24 $.23
 Fully diluted $.62 $.56 $.24 $.23
 Weighted average
 common and common
 share equivalents
 outstanding:
 Primary 6,515,823 5,027,802 6,530,684 5,054,349
 Fully diluted 6,516,262 5,089,083 6,530,685 5,092,531
 SPAGHETTI WAREHOUSE, INC.
 CORPORATE INFORMATION
 Transfer Agent: Nations Bank
 Transfer Agent and Registrar
 Dallas, Texas
 Quarterly Reports: Issued in November, February and May covering the preceding fiscal quarter.
 Annual Report and SEC Reports: Available upon request in writing to: Chief Financial Officer, Spaghetti Warehouse, Inc., 6120 Aldwick Drive, Garland, Texas 75043
 Company Description: National chain of dinner houses serving value priced Italian food located in the following cities:
 Dallas, Texas Houston, Texas
 Austin, Texas Ft. Worth, Texas
 Columbus, Ohio Dayton, Ohio
 Toledo, Ohio Tampa, Fla.
 Atlanta, Ga. Memphis, Tenn.
 Buffalo, N.Y. Pittsburgh, Penn.
 Syracuse, N.Y. Oklahoma City, Okla.
 Rochester, N.Y. Little Rock, Ark.
 Charlotte, N.C. Philadelphia, Penn.
 Providence, R.I. San Antonio, Texas
 Columbia, S.C. Norfolk, Va.
 South Bend, Ind.
 Under Construction:
 Cleveland, Ohio
 Tulsa, Okla.
 Greenville, S.C.
 -0- 5/1/92
 /CONTACT: William B. Rea Jr., vice president-finance of Spaghetti Warehouse, 214-226-6000/
 (SWH) CO: Spaghetti Warehouse Inc. ST: Texas IN: LEI SU: ERN


TS -- NY030 -- 5417 05/01/92 10:55 EDT
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Date:May 1, 1992
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