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BABBAGE'S, INC. REPORTS A 24 PERCENT INCREASE IN SALES FOR THE FIRST QUARTER ENDED MAY 1, 1993

 DALLAS, May 13 /PRNewswire/ -- Babbage's, Inc. (NASDAQ: BBGS), the nation's leading chain of consumer software specialty stores, today reported a 24 percent increase in sales to $46,282,000 for the first quarter ended May 1, 1993, compared with $37,210,000 for the prior year's first quarter. Net income for the quarter was $538,000, or $.10 per share, compared to $259,000, or $.05 per share, for the same quarter last year. The company opened 12 stores during the quarter, bringing total stores in operation at quarter-end to 259, up from 212 stores at the same time last year.
 Comparable store sales for the first quarter increased 7 percent. "Continued rapid growth in sales of software for 16-bit video game systems contributed significantly to our comparable store sales increase in the quarter," said James B. McCurry, chairman of the board.
 As of May 13, 1993, Babbage's operated 262 company-owned stores in 38 states. Virtually all of the company's stores are located in major regional shopping malls.
 BABBAGE'S INC.
 Statements of Operations
 (In thousands, except per share data - Unaudited)
 Three months ended 5/1/93 5/2/92
 Net sales $ 46,282 $ 37,210
 Cost of sales 32,626 26,321
 Gross profit 13,656 10,889
 Store operating expenses 10,552 8,550
 General and administrative expenses 2,248 1,955
 Operating income 856 384
 Net interest income 19 36
 Income before income taxes 875 420
 Provision for income taxes 337 161
 Net income $ 538 $ 259
 Net income per share $ .10 $ .05
 Weighted average shares used in
 per share calculations 5,287 5,273
 BABBAGE'S INC.
 Condensed Balance Sheets
 (In thousands -- Unaudited)
 5/1/93 5/2/92
 Cash and cash equivalents $ 2,084 $ 982
 Merchandise inventory 40,449 31,202
 Property and equipment, net 24,537 19,961
 All other assets 4,572 4,463
 Total $ 71,642 $ 56,608
 Note payable to bank $ 7,900 $ --
 Current liabilities 12,027 12,385
 Deferred rent 1,144 949
 Shareholders' equity 50,571 43,274
 Total $ 71,642 $ 56,608
 -0- 4/13/93
 /CONTACT: Opal P. Ferraro of Babbage's, Inc., 214-401-9000/
 (BBGS)


CO: Babbage's, Inc. ST: Texas IN: REA SU: ERN

SM -- NY020 -- 7958 05/13/93 09:26 EDT
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Publication:PR Newswire
Date:May 13, 1993
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