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SYTJE'S PANNEKOEKEN HUIS FAMILY RESTAURANTS, INC. ANNOUNCED SECOND QUARTER AND YEAR-TO-DATE RESULTS

 MINNEAPOLIS, July 8 /PRNewswire/ -- Sytje's Pannekoeken Huis Family Restaurants, Inc. (NASDAQ: PANNU) today announced net sales for the second quarter (12 week period) ended June 20, 1993 were $2,488,753 compared to $2,407,190 for the quarter last year or a 3.4 percent increase. Same restaurant sales increased 2 percent from last year. Interest expense was $106,232 in the second quarter compared to $188,677 last year. Net income was $82,614 for the quarter or $.06 per share as compared to a loss of $106,430 or $(.22) per share last year.
 Net sales for the 24 weeks ended June 20, 1993 were $4,756,297, an increase 0.1 percent over $4,750,870 for the same period last year. Interest expense for the year-to-date was $223,186 compared to $376,735 last year as a result of lower borrowing. Same restaurant sales were flat. Net income for the first 24 weeks was $1,116 compared to a loss of $193,279 last year. Loss per share was $(.01) compared to a loss of $(.40) last year. Per share amounts are affected by the increase in the number of shares resulting from the company's public offering in May, 1993.
 In connection with the company's expansion of its restaurant chain, the company also announced the hiring of Jay Switzer to serve as chief financial officer and vice president of operations. Switzer has an extensive background in the restaurant industry including serving as CFO and COO of Skippers, Inc., a Seattle based chain of 225 restaurants.
 Todd Novaczyk, chief executive officer, said: "We are encouraged by the quarterly and year-to-date financial results, particularly in light of the distractions and time involved in the company's initial public offering. We are excited about the addition of Jay Switzer to our management team. His operating experience in the restaurant industry will add depth to our management as we seek to expand our restaurant chain."
 Minneapolis-based Pannekoeken owns and operates 10 restaurants which are both free-standing and in shopping centers, located primarily in the Minneapolis-St. Paul metropolitan area. In addition, the company has four (4) franchised restaurants, three (3) of which are located in the Minneapolis-St. Paul metropolitan area and (1) in Rochester, Minn. Pannekoeken's Units, consisting of two (2) shares of common stock and one (1) common stock purchase warrant, are traded on the NASDAQ Small- Cap Market under the symbol "PANNU".
 SYTJE'S PANNEKOEKEN HUIS FAMILY RESTAURANTS, INC.
 Summary Financial Information
 (Unaudited)
 12 Weeks Ended 24 Weeks Ended
 6/20/93 6/14/92 6/20/93 6/14/92
 Revenues 2,488,753 2,407,190 4,756,297 4,750,870
 Cost of food 663,526 677,662 1,300,417 1,327,550
 Gross profit 1,825,227 1,729,528 3,455,880 3,423,320
 Operating income 188,846 82,247 224,302 183,456
 Interest expense, net 106,232 188,677 223,186 376,735
 Net income (loss) $82,614 $(106,430) $1,116 $(193,279)
 Net income (loss)
 per share $.06 $(.22) $(.01) $(.40)
 Weighted average
 shares outstanding 1,216,949 485,492 882,473 485,492
 -0- 7/08/93
 /CONTACT: Todd D. Novaczyk, chief executive officer, of Pannekoeken Huis, 612-944-8090/
 (PANNU)


CO: Sytje's Pannekoeken Huis Family Restaurants ST: Minnesota IN: LEI SU: ERN

DB -- MN022 -- 9705 07/08/93 17:32 EDT
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Date:Jul 8, 1993
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