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EDUCATION ALTERNATIVES, INC. REPORTS FIRST QUARTER OPERATING RESULTS

EDUCATION ALTERNATIVES, INC. REPORTS FIRST QUARTER OPERATING RESULTS
 MINNEAPOLIS, Nov. 13 /PRNewswire/ -- Education Alternatives, Inc. (NASDAQ: EAIN) today reported a net loss of $186,381, or $.05 per share, for the first quarter ended Sept. 30, 1992, compared to a net loss of $441,577, or $.13 per share, for the same quarter of the prior fiscal year. Revenues for the quarter ended Sept. 30, 1992, were $5,154,984 versus $596,131 for the quarter ended Sept. 30, 1991.
 John T. Golle, chairman and chief executive officer of the company, said that the losses for the first quarter fiscal 1993 were anticipated and also reflect the cyclical nature of school operations which began late in the company's first quarter. The first quarter revenue increase is primarily attributable to the Baltimore school contract which represents $4,480,767 of the total revenues. The Baltimore contract was profitable in the first quarter despite the company incurring one-time first-quarter start-up costs of $173,000.
 Education Alternatives, Inc., provides private management of public schools and sells proprietary products and consulting services to public and private schools. The company currently manages 12 schools under various management contracts.
 EDUCATION ALTERNATIVES, INC.
 SUMMARIZED FINANCIAL DATA
 First Quarter Ended
 9/30/92 9/30/91
 Revenues $5,154,984 $596,131
 Net loss $(186,381) $(441,577)
 Net loss per share $(.05) $(.13)
 Weighted average shares
 outstanding 4,022,676 3,498,595
 -0- 11/13/92
 /CONTACT: John T. Golle, chairman and CEO for Education Alternatives, 612-885-5572/
 (EAIN) CO: Education Alternatives, Inc. ST: Minnesota IN: SU: ERN


KH -- MN013 -- 0743 11/13/92 13:57 EST
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Publication:PR Newswire
Date:Nov 13, 1992
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