Printer Friendly

DISCUS ANNOUNCES THIRD QUARTER RESULTS

 DISCUS ANNOUNCES THIRD QUARTER RESULTS
 BLOOMINGTON, Minn., Nov. 11 /PRNewswire/ -- Discus Corporation


(NASDAQ: DISC), a Bloomington, Minn.-based restaurant company today reported profits for both the third quarter and for the first nine months of 1991. For the quarter ended Sept. 29, 1991, the company earned $68,082 or $0.03 per share compared to a profit of $106,103 or $0.05 per share during the third quarter of 1990. Sales decreased 7.5 percent to $3,545,461 during the third quarter of 1991 from $3,831,677 in the year-ago period.
 For the first nine months of 1991 the company earned $145,238 or $0.07 per share which represents a $278,130 improvement compared to a loss of $(132,892) or $(0.06) per share in the year-ago period. Sales decreased 8.1 percent to $10,386,784 for the first nine months of 1991 from $11,301,495 in the year-ago period.
 Mike Platt, Discus' president, stated, "We are pleased to report a profit during the third quarter despite the continuing recession." Platt noted the company achieved lower food, labor and other controllable restaurant cost percentages during the first nine months of 1991 compared to 1990 despite lower sales levels.
 The company believes sales were negatively impacted during the first nine months of 1991 by the economic recession, and during the first part of the year, by the war in the Persian Gulf and significantly lower advertising and promotion expenditures.
 Discus Corporation operates nine Fuddruckers restaurants in Minneapolis, and St. Paul, Minn; Milwaukee, Wis.; St. Louis, Mo.; and Omaha, Neb.
 DISCUS CORPORATION
 CONDENSED STATEMENT OF EARNINGS
 (In thousands, except per-share data)
 Three Months Ended
 Sept. 29, 1991 Sept. 30, 1990
 Restaurant sales $3,545 $3,832
 Percentage change (7.5) --
 Net income $68 $106
 Net income per share $0.03 $0.05
 Weighted average shares outstanding 2,060 2,060
 Nine Months Ended
 Sept. 29, 1991 Sept. 30, 1990
 Restaurant sales $10,387 $11,301
 Percentage change (8.1) --
 Net income (loss) $145 $(133)
 Net income (loss) per share $0.07 $(0.06)
 Weighted average shares outstanding 2,060 2,060
 -0- 11/11/91
 /CONTACT: Mike Platt or Steve Jones of Discus Corporation, 612-831-2326, ext. 228 or 227/
 (DISC) CO: Discus Corporation ST: Minnesota IN: LEI SU: ERN AL -- MN017 -- 3066 11/11/91 13:09 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 11, 1991
Words:393
Previous Article:STATESWEST ANNOUNCES STRONGEST PASSENGER MONTH IN ITS HISTORY
Next Article:BIO-VASCULAR ANNOUNCES NEW VICE PRESIDENT OF OPERATIONS
Topics:


Related Articles
DISCUS ANNOUNCES PROFITABLE FISCAL YEAR 1991
DISCUS ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 1992
DISCUS ANNOUNCES RESULTS FOR THE SECOND QUARTER OF 1992
DISCUS ANNOUNCES RESULTS FOR THE THIRD QUARTER OF 1992
DISCUS ANNOUNCES PROFITABLE FISCAL YEAR 1992
DISCUS ANNOUNCES RESULTS FOR THE FIRST QUARTER OF 1993
DISCUS ANNOUNCES RESULTS FOR THE SECOND QUARTER OF 1993
DISCUS ANNOUNCES RESULTS FOR THE THIRD QUARTER OF 1993
DISCUS ANNOUNCES LETTER OF INTENT FOR SALE OF RESTAURANTS, AGREEMENT IN PRINCIPLE WITH THE SPELL INVESTMENT GROUP AND FISCAL 1993 RESULTS
DISCUS ANNOUNCES DEFINITIVE AGREEMENT FOR SALE OF FUDDRUCKERS RESTAURANTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters