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THE SANDS REGENT ANNOUNCES RECORD FIRST QUARTER EARNINGS

 THE SANDS REGENT ANNOUNCES RECORD FIRST QUARTER EARNINGS
 RENO, Nev., Oct. 26 /PRNewswire/ -- The Sands Regent (NASDAQ: SNDS) announced today that it has achieved record earnings for the quarter ended Sept. 30, 1992. Net income increased from $1.7 million in the first quarter of fiscal 1992 to $2.0 million in the first quarter of fiscal 1993, and net income per share increased from $.51 to $.92, an 80 percent increase. For the same periods, revenues increased from $11.2 million to $12.3 million.
 Pete Cladianos Jr., president of The Sands Regent, said, "We are very happy about the significant increase in our first quarter operating results. We continue to be successful in increasing revenues while also improving our operating margin.
 "If the present trends continue, 1993 will be another record profit year. We will continue to seek gaming opportunities outside of Nevada in order to increase our operating base and profits. We are optimistic that a project will come to fruition."
 THE SANDS REGENT
 Financial Highlights
 (In thousands except per share data)
 Three Months
 ended Sept. 30,
 1992 1991
 Revenues $12,284 $11,187
 Income from operations 3,101 2,443
 Net income 1,996 1,724
 Net income per share .92 .51
 Weighted number of shares
 outstanding 2,160,861 3,348,861
 -0- 10/26/92
 /CONTACT: David R. Wood of The Sands Regent, 702-348-2298/
 (SNDS) CO: The Sands Regent ST: Nevada IN: CNO SU: ERN


JB-LS -- LA004 -- 4578 10/26/92 09:02 EST
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Publication:PR Newswire
Date:Oct 26, 1992
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