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CHILDREN'S DISCOVERY CENTERS ANNOUNCES RECORD SECOND QUARTER AND SIX MONTHS REVENUES AND EARNINGS

 SAN RAFAEL, Calif., July 23 / PRNewswire/ -- Children's Discovery Centers of America Inc. (NASDAQ: CDCRA) today announced the highest second quarter and six months earnings and revenues in the company's history. Net earnings for the 1993 second quarter were $368,000 or 13 cents per share, compared to a net loss of $111,000 or 6 cents per share in the same period of 1992. Revenues for the quarter were $9,394,000, a 52-percent increase over last year's $6,196,000.
 For the first six months of 1993, net earnings were $640,000, or 23 cents per share, compared to a net loss of $212,000, or 12 cents per share in the comparable 1992 period. Revenues for the first six months were $18,287,000, up 52 percent from $12,002,000 in the same period last year.
 The company attributed the record performance to strong enrollment gains, the addition of over 40 new centers during the past year, and substantial reductions in center operating costs made possible by advanced computerized information and control systems.
 Richard A. Niglio, president and chief executive officer of Children's Discovery Centers, said, "Favorable demographic, economic and industry market factors, and a heavy backlog of new center acquisitions in negotiation, should all contribute to continued rapid growth for the company during the next few years."
 Children's Discovery Centers is the nation's fifth-largest child care company and is a leading operator of job-site child care centers for employers.
 CHILDREN'S DISCOVERY CENTERS OF AMERICA INC.
 Financial Results
 (Thousands Except Per-Share Data)
 Three Months Six Months
 Ended June 30, Ended June 30,
 1993 1992 1993 1992
 Revenues $ 9,394 $ 6,196 $18,287 $12,002
 Net loss $ 368 $ (111) $ 640 $ ( 212)
 Net loss per share:
 Primary $ 0.13 $ (0.06) $ 0.23 $ (0.12)
 Fully diluted $ 0.12 $ (0.06) $ 0.22 $ (0.12)
 Weighted average
 number of shares
 Primary 2,923 1,834 2,744 1,834
 Fully diluted 3,105 1,834 2,926 1,834
 -0- 7/23/93
 /CONTACT: Richard A. Niglio, president, or Randall J. Truelove, vice president-finance, of Children's Discovery Centers, 415-459-1291/
 (CDCRA)


CO: Children's Discovery Centers of America Inc. ST: California IN: SU: ERN

LH-GT -- SF002 -- 5010 07/23/93 09:01 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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