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THE SANDS REGENT ANNOUNCES 1992 SECOND QUARTER EARNINGS

 THE SANDS REGENT ANNOUNCES 1992 SECOND QUARTER EARNINGS
 RENO, Nev., Feb. 10 /PRNewswire/ -- The Sands Regent (NASDAQ: SNDS)


announced today that it has achieved record earnings for the quarter ended Dec. 31, 1991. Income from operations increased by 59 percent to $1.6 million in the second quarter of fiscal 1992, compared to the like quarter in fiscal 1991. For the same periods, revenues increased by more than $400,000 and net income per share increased from $.29 to $.40 on net income of approximately $1 million for both years. Such increases arsed back 1.2 million shares of common stock in a company tender offer in October 1991.
 In the six months ended Dec. 31, 1991, income from operations was also at a record level of $4 million, compared to $3.2 million in the same six months of the prior year. Net income also increased from $2.6 million to $2.7 million and net income per share increased from $.78 to $.93. For the same periods, revenues increased from $19.8 million to $20.7 million.
 Pete Cladianos Jr., president of The Sands Regent, said, "We are extremely satisfied about our first half operating results and, despite the economic recession, are encouraged about the remainder of the year. Our advance reservations and group business projections appear to be very strong through at least the end of the third quarter. Comparison of these future operating results will also be aided by the fact that there was a conflict in the Middle East last year.
 "The reverse dilution from our October 1991 tender offer should continue to result in increased earnings per share. The related additional debt burden of $16 million, coupled with the 1.2 million share decrease in common stock, should also result in improved shareholder efficiency. Such improved efficiency has already resulted in enhanced shareholder value."
 THE SANDS REGENT
 Financial Highlights
 (In thousands except per share data)
 Three Months Ended Six Months Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenues $9,533 $9,120 $20,720 $19,848
 Income from
 operations 1,579 990 4,022 3,247
 Net income 980 989 2,704 2,606
 Net income per
 share .40 .29 .93 .78
 Weighted number
 of shares
 outstanding 2,435,818 3,328,861 2,892,339 3,328,861
 -0- 2/10/92
 /CONTACT: David R. Wood of The Sands Regent, 702-348-2298/
 (SNDS) CO: The Sands Regent ST: Nevada IN: CNO SU: ERN


DM-JL -- LA013 -- 8133 02/10/92 09:04 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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