Printer Friendly

EDUCATION ALTERNATIVES, INC., REPORTS SECOND QUARTER OPERATING RESULTS

 MINNEAPOLIS, Feb. 16 /PRNewswire/ -- Education Alternatives, Inc. (NASDAQ: EAIN) today reported net earnings of $235,293, or $.04 per share, for the second quarter ended Dec. 31, 1992, compared to a net loss of $377,916, or $.10 per share, for the same quarter of the prior fiscal year. Revenues for the quarter ended Dec. 31, 1992, were $7,986,282 versus $780,767 for the quarter ended Dec. 31, 1991.
 For the six months ended Dec. 31, 1992, the company reported net earnings of $48,912, or $.01 per share, on revenues of $13,141,266 compared to a net loss of $819,493, or $.23 per share, on revenues of $1,376,898 for the same period of the prior fiscal year.
 John T. Golle, chairman and chief executive officer of the company, said that the earnings for the second quarter and first six months of fiscal 1993 reflect the estimated contribution of the Baltimore contract after applying the percentage of completion method and the culmination of the company's efforts in collecting $267,489 of fees and expenses due under the consulting contract for the South Pointe Elementary School in Dade County, Fla.
 The revenue increase for the second quarter and the first six months of fiscal 1993 is primarily attributable to the Baltimore school contract, which represents $6,908,118 and $11,388,885 of revenue, respectively, for the two periods.
 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 with a total enrollment exceeding 6,000 students.
 EDUCATION ALTERNATIVES, INC.
 SUMMARIZED FINANCIAL DATA
 Second Quarter Ended
 12/31/92 12/31/91
 Revenue $7,986,282 $780,767
 Net earnings (loss) 235,293 (377,916)
 Net earnings (loss) per share $.04 $(.10)
 Weighted average shares
 outstanding 6,073,069 3,498,595
 Six Months Ended
 12/31/92 12/31/91
 Revenue $13,141,266 $1,376,898
 Net earnings (loss) 48,912 (819,493)
 Net earnings (loss) per share $.01 $(.23)
 Weighted average shares
 outstanding 5,923,913 3,498,595
 NOTE: The weighted average shares outstanding used to compute earnings per share includes the conversion of all the company's outstanding warrants and options into common stock equivalents to calculate a primary earnings per share. Primary and fully diluted earnings per share are the same. Loss per share is calculated using the weighted average number of shares outstanding during each period. The impact of stock options and warrants are not included in loss per share as their effects are antidilutive.
 -0- 2/16/93
 /CONTACT: Frank L. Kuhar, chief financial officer of Education Alternatives, 612-832-0092/
 (EAIN)


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

DS -- MN003 -- 6721 02/16/93 08:56 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 16, 1993
Words:471
Previous Article:PAY-FONE SYSTEMS INC. ANNOUNCES SECOND QUARTER RESULTS
Next Article:MGI PHARMA REPORTS 1992 RESULTS
Topics:


Related Articles
EDUCATION ALTERNATIVES, INC. REPORTS FOURTH QUARTER AND YEAR-END OPERATING RESULTS
EDUCATION ALTERNATIVES REPORTS FIRST QUARTER OPERATING RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS THIRD QUARTER OPERATING RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS THIRD-QUARTER RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS FIRST QUARTER RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS FOURTH QUARTER AND YEAR-END RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS SECOND QUARTER RESULTS
EDUCATION ALTERNATIVES, INC. REPORTS THIRD QUARTER RESULTS
Education Alternatives, Inc. Reports Year-End Results
Education Alternatives, Inc. Reports First Quarter Results

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