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BUFFETS REPORTS RECORD RESULTS

 BUFFETS REPORTS RECORD RESULTS
 EDEN PRAIRIE, Minn., Aug. 3 /PRNewswire/ -- Roe H. Hatlen, chairman,


president and CEO of Buffets, Inc. (NASDAQ: BOCB), reported that the second quarter ended July 15, 1992, was the most profitable quarter in the history of the company.
 Second quarter (12 weeks) 1992, net earnings increased 33 percent to $3,981,000 from $3,002,000 in 1991. Earnings per share increased 29 percent to $.27 on 14,846,000 shares, compared to $.21 on 14,610,000 shares in 1991. Restaurant sales for the quarter increased 22 percent to $57,716,000 from $47,343,000 during the same quarter of 1991.
 For the 28 weeks ended July 15, 1992, net earnings increased 42 percent to $7,810,000 from $5,488,000 in the same period in 1991. Earnings per share increased 39 percent to $.53 for the same period of 1991. Restaurant sales of the 28 week period increased 28 percent to $128,616,000 from $100,414,000 in 1991.
 The company opened four restaurants during the quarter, one each in Matteson, Ill.; Cleveland; Mansfield, Ohio; and Spokane, Wash.; and converted six existing "straight-line" restaurants to the "scatter system" for a total of 24 conversions. One restaurant has opened since the end of the quarter in Montgomery, Ala. and currently there are nine restaurants under construction. The company expects 16 to 21 company- wide restaurants to open during the remainder of 1992.
 Currently, Buffets, Inc. operates 117 Old Country Buffet restaurants in 18 states and franchises six restaurants in two states.
 BUFFETS, INC. AND SUBSIDIARIES
 Financial Highlights
 (In thousands, except per share data)
 (Unaudited)
 12 Weeks Ended Percent
 7/15/92 7/17/91 Increase
 Second Quarter:
 Restaurant sales $57,716 $47,343 22
 Earnings before income taxes 6,592 4,992 32
 Net earnings $3,981 $3,002 33
 Earnings per common and common
 equivalent share $0.27 $0.21 29
 Weighted average shares 14,846,000 14,610,000
 28 Weeks Ended Percent
 7/15/92 7/17/91 Increase
 Year:
 Restaurant sales $128,616 $100,414 28
 Earnings before income taxes 12,931 9,073 43
 Net earnings $7,810 $5,488 42
 Earnings per common and common
 equivalent share $0.53 $0.38 39
 Weighted average shares 14,859,000 14,549,000
 -0- 8/3/92
 /CONTACT: Roe H. Hatlen of Buffets, 612-942-9760/
 (BOCB) CO: Buffets, Inc. ST: Minnesota IN: LEI SU: ERN


AL -- MN004 -- 6008 08/03/92 09:12 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
Words:415
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