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BABBAGE'S, INC. ANNOUNCES FINANCIAL RESULTS

 BABBAGE'S, INC. ANNOUNCES FINANCIAL RESULTS
 DALLAS, Nov. 12 /PRNewswire/ -- Babbage's, Inc. (NASDAQ: BBGS), the


nation's leading chain of consumer software specialty stores, today reported a 12 percent increase in sales to $36,208,000 for the third quarter ended Oct. 31, 1992, compared with $32,260,000 for the same quarter last year. Net loss for the quarter was $326,000, or $.06 per share, compared to a net loss of $273,000, or $.05 per share, for the same period last year. The company opened 16 stores during the quarter, bringing total stores in operation at quarter-end to 240, up from 201 stores at the same time last year.
 For the nine months ended Oct. 31, 1992, sales increased 19 percent to $108,446,000 from $91,059,000 for the same period last year. The company reported a net loss of $392,000, or $.07 per share, compared to a net loss of $506,000, or $.10 per share, for the same period last year.
 Comparable store sales for the third quarter decreased 2 percent. "Same store sales of video game systems declined substantially," said James B. McCurry, chairman of the board. "Sales of the Super Nintendo Entertainment System, which was introduced in August 1991, were especially strong during the third quarter of last year. In addition, the average selling price of video game systems has declined significantly over the past year. These price reductions, however, have led to continued growth in the installed base of 16-bit systems, and as a result our same store sales of video game software registered double-digit increases for the quarter. Comparable store sales of software for IBM-compatible computers rose 2 percent on top of a 30 percent increase in the third quarter last year."
 As of Nov. 12, 1992, Babbage's, Inc. operated 241 company-owned stores in 37 states. Virtually all of the company's stores are located in major regional shopping malls.
 BABBAGE'S, INC.
 Statements of Operations
 (Unaudited, in thousands, except per share data)
 Periods ended Three months Nine months
 10/31/92 11/2/91 10/31/92 11/2/91
 Net sales $ 36,208 $ 32,260 $108,446 $ 91,059
 Cost of sales 25,254 23,099 76,305 64,059
 Gross profit 10,954 9,161 32,141 26,272
 Store operating expenses 9,427 7,914 26,896 22,302
 General and administrative
 expenses 2,030 1,719 5,862 4,943
 Operating loss (503) (472) (617) (973)
 Net interest income (expense) (26) 34 (18) 161
 Loss before provision for
 income taxes (529) (438) (635) (812)
 Income tax benefit (203) (165) (243) (306)
 Net loss $ (326) $ (273) $ (392) $ (506)
 Net loss per common share $ (.06) $ (.05) $ (.07) $ (.10)
 Weighted average shares used
 in per share computations 5,277 5,263 5,275 5,259
 BABBAGE'S, INC.
 Condensed Balance Sheets
 (Unaudited, in thousands)
 10/31/92 11/2/91
 Cash and cash equivalents $ 2,470 $ 1,873
 Merchandise inventory 42,362 37,792
 Property and equipment, net 22,328 19,383
 All other assets 4,703 3,313
 Total $ 71,863 $ 62,361
 Note payable to bank $ 10,720 $ 4,550
 Current liabilities 17,430 20,147
 Deferred rent 1,068 870
 Shareholders' equity 42,645 36,794
 Total $ 71,863 $ 62,361
 -0- 11/12/92
 /CONTACT: Opal P. Ferraro of Babbage's, Inc., 214-401-9000/
 (BBGS) CO: Babbage's, Inc. ST: Texas IN: REA SU: ERN


TS -- NY016 -- 0036 11/12/92 09:22 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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