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DISCUS ANNOUNCES RESULTS FOR THE THIRD QUARTER OF 1993

 BLOOMINGTON, Minn., Nov. 15 /PRNewswire/ -- Discus Corporation, a Bloomington-based restaurant company today reported a net loss of $90,674 or $.04 per share for its third quarter ended Sept. 26, 1993, compared to net income of $69,004 or $.03 per share for the third quarter of fiscal year 1992. The third quarter of 1993 loss included a one-time loss of $103,189 or $.04 per share from the termination of a lease obligation on a restaurant property in Milwaukee, which the company ceased operating during September of 1993. Restaurant sales increased 10.8 percent to $3,871,483 during the third quarter of 1993, from $3,493,891 during the same period in 1992.
 For the first nine months of 1993, the company earned $17,898 or $.01 per share compared to net income of $170,425 or $.08 per share for the same period in 1992. Included in the earnings for the first nine months of 1993, is an extraordinary gain of $90,760 or $.04 per share in April from settlement with the Resolution Trust Corporation regarding a past due mortgage obligation. Sales increased 7.1 percent to $11,232,827 for the first nine months of 1993 from $10,488,264 for the same period in 1992.
 For both the third quarter and first nine months of 1993, the sales increases resulted from operating more restaurants compared to the same periods in 1992. Lower sales during 1993 in certain of the company's "mature" restaurants contributed to the lower profits compared to 1992. In addition, start up costs for two new restaurants opened in January and July of 1993 reduced profitability compared to 1992.
 On Oct. 11, 1993, the company opened its third restaurant in the St. Louis area.
 Discus Corporation operates 10 Fuddruckers restaurants, five in Minneapolis and St. Paul, three in St. Louis, one each in Milwaukee and Omaha, Neb.
 DISCUS CORPORATION
 Condensed Statement of Earnings
 (In thousands except per share data)
 Third Quarter Ended
 9/26/93 9/27/92
 Restaurant sales $3,871 $3,494
 Percent change 10.8 --
 Net income (loss) $(91) $69
 Net income (loss) per share $(0.04) $0.03
 Weighted average shares
 outstanding 2,060 2,060
 Nine Months Ended
 9/26/93 9/27/92
 Restaurant sales $11,233 $10,488
 Percent change 7.1 --
 Income (loss) before
 extraordinary item (73) 170
 Extraordinary item 91 --
 Net income $18 $170
 Per share amounts:
 Income (loss) before
 extraordinary item $(0.03) $0.08
 Extraordinary item 0.04 --
 Net income $0.01 $0.08
 Weighted average shares outstanding 2,060 2,060
 -0- 11/15/93
 /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-DB -- MN021 -- 4458 11/15/93 13:08 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:468
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