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BUFFETS, INC. ANNOUNCES ANOTHER RECORD QUARTER

 BUFFETS, INC. ANNOUNCES ANOTHER RECORD QUARTER
 EDEN PRAIRIE, Minn., Oct. 27 /PRNewswire/ -- Roe H. Hatlen, chairman


and CEO of Buffets, Inc. (NASDAQ: BOCB), reported that the third quarter ended Oct. 7, 1992, was once again the most profitable quarter in the history of the company.
 For the third quarter (12 weeks) 1992, net earnings increased 43 percent to $4,181,000 on a sales increase of 25 percent to $60,286,000. Earnings per share increased 40 percent to $.28 per share on 14,813,000 shares, compared to $.20 per share on 14,682,000 shares in 1991.
 For the 40 weeks ended Oct. 7, 1992, net earnings increased 42 percent to $11,991,000 and earnings per share increased 40 percent to $.81 per share. Restaurant sales for the 40 week period increased to $188,902,000 from $148,536,000 in 1991.
 The company opened five restaurants during the quarter, one each in Montgomery, Ala.; Vernon Hills, Ill.; Rocky River, Ohio; Richmond, Va.; and Arvada, Colo., and converted one existing "straight line" restaurant to the "scatter system" format. Two restaurants have opened since the end of the quarter in Ann Arbor, Mich. and Niles, Ill. The company expects 12 to 14 company-owned restaurants to open during the remainder of 1992.
 Currently, Buffets, Inc. operates 123 Old Country Buffet restaurants in 19 states and franchises six restaurants in two states.
 BUFFETS, INC. AND SUBSIDIARIES
 Financial Highlights
 (Unaudited)
 12 Weeks Ended
 10/7/92 10/9/91 Percent
 Third Quarter: Increase
 Restaurant sales $60,286,000 $48,122,000 25
 Earnings before income taxes 6,920,000 4,837,000 43
 Net earnings $4,181,000 $2,929,000 43
 Earnings per common and
 common equivalent share $0.28 $0.20 40
 Weighted average shares 14,813,000 14,682,000 --
 40 Weeks Ended
 10/7/92 10/9/91 Percent
 Year: Increase
 Restaurant sales $188,902,000 $148,536,000 27
 Earnings before income taxes 19,851,000 13,910,000 43
 Net earnings $11,991,000 $8,417,000 42
 Earnings per common and
 common equivalent share $0.81 $0.58 40
 Weighted average shares 14,845,000 14,589,000 --
 -0- 10/27/92
 /CONTACT: Roe H. Hatlen, chairman and CEO of Buffets, 612-942-9760/
 (BOCB) CO: Buffets, Inc. ST: Minnesota IN: LEI SU: ERN


DS -- MN004 -- 5209 10/27/92 09:12 EST
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Publication:PR Newswire
Date:Oct 27, 1992
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