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THE BANKER'S NOTE, INC. ANNOUNCES FOURTH QUARTER RESULTS

 SMYRNA, Ga., April 29 /PRNewswire/ -- The Banker's Note, Inc. (OTC: BKNTQ), a chain of women's career specialty apparel stores operating under Chapter 11 of the United States Bankruptcy Code, today announced operating income before taxes and non-recurring charges of $78,000 for the fourth quarter ended Jan. 30.
 This compares to an operating loss of ($730,000) for the same period last year.
 Net income was $46,000 after tax and non-recurring charges or $.01 per share compared to net loss of ($250,000) or ($.08) per share for the prior year's fourth quarter.
 For the year, operating income before tax and non-recurring charges was $449,000 compared to a loss of ($1,683,000) for the same period last year.
 Net income for the year was $427,000 or $.13 per share compared to a net loss of ($3,670,000) or ($1.11) per share last year.
 Management attributed the continued improved results to enhanced gross margin on merchandise and maintained control over operating expenses. The company filed Chapter 11 in August of 1991, and anticipates that its Plan of Reorganization will be confirmed by the court at a hearing scheduled for May 6, to emerge from Chapter 11.
 FINANCIAL SUMMARY
 Fiscal year end 1/30/93 Fiscal year end 2/1/92
 4th Qtr. 12 months 4th Qtr. 12 months
 Sales $ 4,758,000 $ 19,082,000 $ 5,475,000 $ 25,550,000
 Income (loss)
 before tax and
 non-recurring
 charges 78,000 449,000 (730,000) (1,683,000)
 Net income (loss) 46,000 427,000 (250,000) (3,670,000)
 Earnings (loss)
 per share $ .01 $ .13 $ (.08) $ (1.11)
 Avg. shares
 outstanding 3,346,413 3,346,413 3,310,252 3,310,252
 Stores open at
 end of period 36 36 38 38
 -0- 4/29/93
 /CONTACT: Harold D. Cannon, senior vice president of The Banker's Note, 404-432-0636/
 (BKNTQ)


CO: The Banker's Note, Inc. ST: Georgia IN: REA SU: ERN

RA-BN -- AT014 -- 2907 04/29/93 17:22 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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