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DISCUS ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 1993

 BLOOMINGTON, Minn., May 13 /PRNewswire/ -- Discus Corporation, a Bloomington-based restaurant company today reported earnings of $12,457 or $.01 per share for its first quarter ended March 28, 1993, compared to a profit of $40,209 or $.02 per share during the first quarter of 1992. Restaurant sales increased 3.1 percent to $3,673,975 during the first quarter of 1993 from $3,563,382 during the same period in 1992.
 In January 1993, Discus opened its 10th Fuddruckers, its first new restaurant in 5 years, in Burnsville, Minn. This new restaurant provided the sales growth during the first quarter of 1993. Mike Platt, Discus president stated, "This conversion of an existing restaurant represents a low investment/low risk expansion opportunity for Discus, and we have been encouraged by the early results. We hope to find other similar opportunities to expand in our existing markets during 1993."
 Platt noted, "Our first quarter profit was negatively impacted by the opening of the new restaurant. During the early months of operation a newly opened restaurant incurs higher labor and other restaurant operating costs than are incurred in more mature restaurants. During the early weeks of the second quarter such costs are decreasing in the Burnsville restaurant."
 Also, in April 1993, Discus reached agreement with the Resolution Trust Corporation (RTC) regarding the past due mortgage on its Greenfield, Wis. restaurant property. In lieu of foreclosure, Discus gave the RTC the deed to the land and building, an initial cash payment, and an agreement to make two additional cash payments during the next year. The company entered into a lease to operate the restaurant for an undetermined period of time.
 Discus Corporation operates 10 Fuddruckers restaurants in Minneapolis and St. Paul; Milwaukee; St. Louis, Mo.; and Omaha, Neb.
 DISCUS CORPORATION
 Condensed Statement of Earnings
 (In thousands except per share data)
 First Quarter Ended
 3/28/93 3/29/92
 Restaurant sales $3,674 $3,563
 Percent change 3.1 --
 Net income $12 $40
 Percent change (70.0) --
 Net income per share $0.01 $0.02
 Weighted average
 shares outstanding 2,060 2,060
 -0- 5/13/93
 /CONTACT: Mike Platt, 612-831-2326, ext. 228, or Steve Jones, 612-831-2326, ext. 227, both of Discus/


CO: Discus Corporation ST: Minnesota IN: REA SU: ERN

AL -- MN012 -- 8188 05/13/93 14:28 EDT
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Publication:PR Newswire
Date:May 13, 1993
Words:387
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