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CANDY'S TORTILLA FACTORY'S THIRD QUARTER REVENUES INCREASE 30 PERCENT

CANDY'S TORTILLA FACTORY'S THIRD QUARTER REVENUES INCREASE 30 PERCENT
 PUEBLO, Colo., July 22 /PRNewswire/ -- Candy's Tortilla Factory Inc. (NASDAQ: CNDY) today reported higher revenues for the third quarter and nine months ended June 20, 1992 compared to the like periods last year.
 Revenues rose 30 percent in the third quarter of 1992 to $9,312,899 compared to $7,173,390 during the like quarter last year. Revenues also rose 31 percent for the nine months ended June 20, 1992 to $26,637,204 versus $20,258,132 in 1991.
 Net income was $20,935 or 1 cent per share for the third quarter of 1992 compared to $114,679 or 6 cents per share for the like quarter in 1991.
 For the nine months ended June 20, 1992, net income was $394,780 or 12 cents per share compared to $271,979 or 13 cents per share for the like period last year.
 "Candy's previously announced that its third quarter net earnings would be lower than expected due in part to equipment delivery and installation delays in Phases I and II of the company's current expansion program," said Anthony J. Estrada, Candy's president and chief executive officer. "Candy's experienced considerable delays in the delivery of the manufacturing equipment and, as a result of those delays and the resulting disruption in production, Candy's did not realize the anticipated cost savings from the first two phases of expansion in the third quarter.
 "On the positive side, the market for Mexican food products continues to grow rapidly, and we are happy to once again report growth of revenues in excess of 30 percent. The fourth quarter will feel some effects of training the additional personnel and management necessary to realize the efficiencies of the 10 million pounds of new capacity."
 Based in Pueblo, Candy's Tortilla Factory manufactures, markets and distributes a premium quality line of flour and corn tortillas, taco shells and tortilla chips, packaged and marketed under its own labels and various private labels to the retail, institutional and foodservice markets. Retail customers include Safeway, Kroger and Albertson's. Foodservice customers include Kraft, Lady Baltimore and Sysco. Candy's institutional customers include Taco Bell and McDonald's.
 -0- 7/22/92
 /CONTACT: Tom Carpenter of Candy's Tortilla Factory, 719-543-4350; or Mark Trinske of Trinske Communications, 303-665-7760, for Candy's Tortilla Factory/
 (CNDY) CO: Candy's Tortilla Factory Inc. ST: Colorado IN: FOD SU: ERN


BB -- DV010 -- 1771 07/22/92 10:15 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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