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EDUCATION ALTERNATIVES REPORTS SECOND QUARTER OPERATING RESULTS

 EDUCATION ALTERNATIVES REPORTS SECOND QUARTER OPERATING RESULTS
 MINNEAPOLIS, Feb. 13 /PRNewswire/ -- Education Alternatives, Inc. (NASDAQ: EAIN) today reported a net loss of $377,916, or $.10 per share, for the second quarter ended Dec. 31, 1991, compared to a net loss of $332,715, or $.27 per share, for the same quarter of the prior fiscal year. Revenues for the quarter ended Dec. 31, 1991, totaled $780,767 versus $619,592 for the quarter ended Dec. 31, 1990.
 For the six months ended Dec. 31, 1991, the company reported a net loss of $819,493, or $.23 per share, on revenues of $1,376,898 compared to a net loss of $825,333, or $.67 per share, on revenues of $991,838 for the same period of the prior fiscal year.
 John T. Golle, chairman and chief executive officer of the company, said that the losses for the second quarter and first six months of fiscal 1992 were consistent with the company's business plan. The increase in revenue reflects an increase in school management fees and expense reimbursements resulting from the company's restructuring in March 1991. The net loss for the quarter results from costs, not reimbursed to date, associated with the company's contract with the School Board of Dade County, Fla., for consulting services to the South Pointe School, which opened in September 1991; incremental staffing to gear-up for anticipated contracts; and the addition of professional staff to perform consulting services and product development.
 Golle further stated that the company continues to aggressively pursue management and consulting contracts with a number of school districts and state governments. "With the combined skills and services of the alliance between Education Alternatives, Johnson Controls World Services, Inc. and KPMG Peat Marwick formed in November 1991, the company is strategically positioned to obtain significant management and consulting contracts to dramatically impact the shape of education. In the spirit of President Bush's New America Schools plan, we have joined forces with the Florida Department of Education, Johnson Controls World Services, Inc. and KPMG Peat Marwick in a collaborative effort to encourage Florida school districts to come under private management. Our alliance has applied for New American Schools Development Corporation funding to assist in this transition. In addition, we continue to be optimistic about securing management contracts during the second half of fiscal 1992 based on the number of preliminary discussions underway at this time," said Golle.
 Education Alternatives, Inc. provides school management and consulting services and proprietary educational products to public and private schools. The company's products and services are based upon an educational system developed and in use at the two Tesseract Schools, which the company manages, in Eagan, Minn. and Paradise Valley, Ariz. In the past four school years, students in these schools have consistently advanced in excess of 1.5 grade levels per year, based on the results of standardized achievement tests.
 EDUCATION ALTERNATIVES, INC.
 SUMMARIZED FINANCIAL DATA
 Second Quarter Ended
 12/31/91 12/31/90
 Revenues $780,767 $619,592
 Net loss $(377,916) $(332,715)
 Net loss per share $(.10) $(.27)
 Weighted average shares
 outstanding 3,498,595 1,231,892
 Six Months Ended
 12/31/91 12/31/90
 Revenues $1,376,898 $991,838
 Net loss $(819,493) $(825,333)
 Net loss per share $(.23) $(.67)
 Weighted average shares
 outstanding 3,498,595 1,225,794
 NOTE: Weighted average common shares outstanding used to compute the fiscal 1992 loss per share includes conversion of all of the company's convertible preferred stock to common stock and the issuance of 1,663,690 shares of common stock in the company's initial public offering in May 1991. Pro forma net loss per share for the quarter and six month period ended Dec. 31, 1990, assuming the conversion of convertible preferred stock and common stock issuance on July 1, 1990, would have been $.10 and $.24 per share, respectively.
 -0- 2/13/92
 /CONTACT: John T. Golle of Education Alternatives, 612-885-5572/
 (EAIN) CO: Education Alternatives ST: Minnesota IN: SU: ERN


AL -- MN012 -- 0021 02/13/92 18:24 EST
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Date:Feb 13, 1992
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