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EDUCATION ALTERNATIVES, INC. REPORTS FOURTH QUARTER AND YEAR-END OPERATING RESULTS

 MINNEAPOLIS, Sept. 20 /PRNewswire/ -- Education Alternatives, Inc. (NASDAQ: EAIN), today reported net earnings of $617,000, or $.08 per share, on revenue of $8,260,000 for the fourth quarter ended June 30, 1993, compared to a net loss of $323,000, or $.09 per share, on revenue of $809,000 for the comparable fiscal 1992 period.
 For the fiscal year ended June 30, 1993, the company reported earnings of $1,119,000 or $.18 per share, on revenue of $30,055,000, compared to a net loss of $1,551,000 or $.44 per share, on revenue of $2,944,000 for fiscal 1992.
 John T. Golle, chairman and chief executive officer of Education Alternatives, Inc., said that the fourth quarter and year-to-date results were higher than expected due to increased investment earnings of approximately $255,000 or $.04 per share.
 The net earnings and revenue increases for the fourth quarter and year ended June 30, 1993, reflect the positive impact of the Baltimore management contract. Collection of South Pointe Elementary School consulting fees totaled approximately $381,000 for the year ended June 30, 1993.
 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 or provides services to 12 schools, with a total enrollment exceeding 6,000 students.
 EDUCATIONAL ALTERNATIVES, INC.
 SUMMARIZED FINANCIAL DATA
 Fourth Quarter Ended
 6/30/93 6/30/92
 Revenue $8,260,000 $809,000
 Net earnings (loss) $617,000 $(323,000)
 Net earnings (loss) per share $.08 $(.09)
 Weighted average shares
 outstanding 7,261,480 3,503,265
 Year Ended
 6/30/93 6/30/92
 Revenue $30,055,000 $2,944,000
 Net earnings (loss) $1,119,000 $(1,551,000)
 Net earnings (loss) per share $.18 $(.44)
 Weighted average shares
 outstanding 6,352,434 3,499,759
 -0- 9/20/93
 /CONTACT: Frank L. Kuhar, chief financial officer of Education Alternatives, 612-832-0092/


CO: Education Alternatives, Inc. ST: Minnesota IN: SU: ERN

KH-DB -- MN001 -- 3529 09/20/93 09:52 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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