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AU BON PAIN REPORTS SECOND QUARTER NET INCOME UP 34 PERCENT ON STRONG COMPARABLE RESTAURANT SALES

 BOSTON, Aug. 4 /PRNewswire/ -- Au Bon Pain Co., Inc. (NASDAQ: ABPCA) today reported that net income for its second quarter ended July 10, 1993 increased 34 percent to $1,432,000 or 13 cents per share, compared to $1,069,000 or 10 cents per share, in the 1992 second quarter. Year-to-date for the twenty-eight weeks ended July 10, 1993, net income increased 35 percent to $2,986,000 or 26 cents per share, compared to $2,217,000, or 21 cents per share.
 Revenue increased 32 percent in the second quarter of 1993 to $27.9 million from $21.1 million in the second quarter of 1992. Restaurant sales of the eight bakery cafes opened in the second half of 1992, the 13 Warburton's bakery cafes acquired and retained by the company in July, 1992, and the seven bakery cafes opened in the first half of 1993 added significantly to the second quarter, 1993 revenue. In addition, comparable restaurant sales (excluding the Warburton's bakery cafes acquired in July, 1992) increased by 6.9 percent in the second quarter of 1993 vs. the same quarter of 1992, improving by 3.4 points over the first quarter, 1993 comparable sales. The second quarter, 1993 comparable sales was particularly significant due to the strong comparable sales registered in last year's second quarter of 10.7 percent (see Table 1). In addition, the Warburton's bakery cafes, purchased by the company in July and excluded from the same store sales comparison, showed strong comparable restaurant sales gains, increasing by 19.4 percent. For the year-to-date period, revenue increased 34 percent through July 10, 1993 vs. the previous year-to-date, principally due to the new bakery cafes. Comparable restaurant sales of 5 percent during the first half of 1993 also contributed to the improved revenues.
 Franchise sales and other revenues increased only modestly to $2.0 million in the second quarter ended July 10, 1993 from $1.7 million in the 1992 second quarter, due principally to franchise fees received in the 1992 second quarter totaling $275,000. Year-to-date franchise sales and other revenues increased to $4.4 million in 1993 from $3.7 million in the comparable period of 1992.
 Operating income for the second quarter of 1993 increased 41 percent to $2,471,000 from $1,752,000 in the previous year's second quarter, bringing year-to-date operating income to $5,156,000 in 1993, 38 percent above operating income of $3,740,000 for the first half of 1992. Operating margin increased to 8.9 percent in the second quarter of 1993 from 8.3 percent in the same quarter of 1992, as improvements in restaurant operating and general and administrative expenses as a percentage of revenues more than offset slightly higher percentage cost of food and paper products (see Margin Analysis). The margin comparison between second quarter 1993 and 1992 was impacted also by the 1992 fee income referred to above, which increased the second quarter, 1992 operating margin by 1.3 percent.
 Year-to-date seven company-operated bakery cafes and three franchised bakery cafes have been opened.
 AU BON PAIN CO., INC.
 Comparable Restaurant Sales
 Company-Operated Restaurants
 1992 1993
 Q1 Q2 Q3 Q4 Q1 Q2
 7.4 pct 10.7 pct 6.7 pct 6.9 pct 3.5 pct 6.9 pct
 Q2 1993
 P5 P6 P7
 7.5 pct 7.1 pct 6.1 pct
 Note: Excludes Warburton's bakery cafes purchased in July 1992.
 AU BON PAIN CO., INC.
 Consolidated Statements of Operations
 (unaudited)
 For the 12 weeks ended For the 28 weeks ended
 July 10 July 11 July 10 July 11
 1993 1992 1993 1992
 Revenues:
 Restaurant sales $25,889,866 $19,337,438 $57,138,324 $42,270,458
 Franchise sales
 and other
 revenues 1,973,795 1,730,817 4,350,005 3,749,554
 Total 27,863,661 21,068,255 61,488,329 46,020,012
 Cost and expenses:
 Cost of food &
 paper products 9,130,968 6,853,101 20,141,152 15,272,143
 Restaurant operating
 expenses 12,851,262 9,858,534 28,362,306 20,987,171
 Depreciation and
 amortization 1,830,481 1,397,652 4,257,769 3,247,805
 General and
 administrative 1,579,922 1,206,801 3,570,767 2,773,312
 Total 25,392,633 19,316,088 56,331,994 42,280,431
 Operating income 2,471,028 1,752,167 5,156,335 3,739,581
 Interest expense, net 11,572 12,327 45,211 63,318
 Other (income), net 11,726 (106,634) (28,377) (187,277)
 Minority interest 10,864 39,213 59,037 139,877
 Income before provision
 for income taxes 2,436,866 1,807,261 5,080,464 3,723,663
 Provision for income
 taxes 1,004,500 738,500 2,094,500 1,506,500
 Net income $1,432,366 $1,068,761 $2,985,964 $2,217,163
 Net income per
 common share 13 cents 10 cents 26 cents 21 cents
 Weighted average
 number of common
 and common equiv-
 alent shares
 outstanding 11,397,279 11,223,915 11,388,096 10,767,941
 AU BON PAIN CO., INC.
 Consolidated Statements of Operations (unaudited)
 Margin Analysis
 For the 12 weeks ended For the 28 weeks ended
 July 10, July 11, July 10, July 11,
 1993 1992 1993 1992
 Revenues:
 Restaurant sales 92.9 pct 91.8 pct 92.9 pct 91.9 pct
 Franchise sales
 and other
 revenues 7.1 pct 8.2 pct 7.1 pct 8.1 pct
 Total 100.0 pct 100.0 pct 100.0 pct 100.0 pct
 Costs and expenses:
 Cost of food & paper
 products 32.8 pct 32.6 pct 32.8 pct 33.2 pct
 Restaurant operating
 expenses 46.1 pct 46.8 pct 46.1 pct 45.6 pct
 Depreciation and
 amortization 6.6 pct 6.6 pct 6.9 pct 7.1 pct
 General and
 administrative 5.6 pct 5.7 pct 5.8 pct 6.0 pct
 Total 91.1 pct 91.7 pct 91.6 pct 91.9 pct
 Operating income 8.9 pct 8.3 pct 8.4 pct 8.1 pct
 Interest expense, net .1 pct --- --- .1 pct
 Other (income), net .1 pct (.5)pct --- (.4)pct
 Minority interest --- .2 pct .1 pct .3 pct
 Income before provision
 for income taxes 8.7 pct 8.6 pct 8.3 pct 8.1 pct
 Provision for income
 taxes 3.6 pct 3.5 pct 3.4 pct 3.3 pct
 Net income 5.1 pct 5.1 pct 4.9 pct 4.8 pct
 -0- 8/4/93
 /CONTACT: Tony Carroll, chief financial officer of Au Bon Pain, 617-423-2100/
 (ABPCA)


CO: Au Bon Pain Co., Inc. ST: Massachusetts IN: FOD SU: ERN

JL-DJ -- NE009 -- 9501 08/04/93 16:02 EDT
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Date:Aug 4, 1993
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