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BUFFETS, INC. REPORTS QUARTER

 BUFFETS, INC. REPORTS QUARTER
 EDEN PRAIRIE, Minn., May 11 /PRNewswire/ -- Roe H. Hatlin, chairman,


president and CEO of Buffets, Inc. (NASDAQ: BOCB), reported that the first quarter of 1992 was the most profitable quarter in the history of the company.
 For the first quarter (16 weeks) 1992, net earnings increased 54 percent to $3,829,000 from $2,486,000 in 1991. Earnings per share increased 53 percent to $.26 on 14,869,000 shares, compared to $.17 on 14,504,000 shares in 1991. Restaurant sales for the quarter increased 34 percent to $70,900,000 from $53,071,000 during the same quarter of 1991.
 During the quarter, the company opened four new restaurants, one each in Jackson, Miss.; Portland, Ore.; Shawnee, Kan.; and Memphis, Tenn.; and converted six existing "straight-line" restaurants to the "scatter system" for a total of 18 conversions. The company contemplates that an additional 26 to 31 new restaurants will open and an additional six "straight-line" restaurants will be converted in 1992. The company currently operates 112 restaurants in 17 states and franchises six restaurants in two states.
 BUFFETS, INC. AND SUBSIDIARIES
 FINANCIAL HIGHLIGHTS
 (Unaudited)
 (In thousands, except per-share data)
 16 Weeks Ended Percent
 4/22/92 4/24/91 Increase
 First quarter:
 Restaurant sales $70,900 $53,071 34
 Earnings before
 income taxes 6,339 4,081 55
 Net earnings 3,829 2,486 54
 Earnings per common
 and common
 equivalent share $.26 $.17 53
 Weighted average
 shares 14,869 14,504 --
 -0- 5/11/92
 /CONTACT: Roe H. Hatlen of Buffets, Inc., 612-942-9760/
 (BOCB) CO: Buffets, Inc. ST: Minnesota IN: LEI SU: ERN


KH -- MN002 -- 8446 05/11/92 09:03 EDT
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Publication:PR Newswire
Date:May 11, 1992
Words:280
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