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ENTERTAINMENT CORPORATION OF AMERICA YEAR END EARNINGS

 ENTERTAINMENT CORPORATION OF AMERICA YEAR END EARNINGS
 DALLAS, July 21 /PRNewswire/ -- Entertainment Corporation of America (OTC: ECCC) today reported the highest earnings in the company's history for the year ended April 30, 1992, of $625,243 or $0.13 per share, as compared to a loss of ($986,952) or ($0.20) per share for the year ended April 30, 1991. The net loss for the year ended April 30, 1991, resulted from a charge to operations of $1,352,097 for uncollectible receivables from related parties.
 Net sales for the years ended April 30, 1992, and 1991, totaled $5,323,719 and $6,114,497, respectively. John D. Kirkendoll, president of ECA, stated that, "the decline in sales between years was due to increased competition in the Atlanta market and the poor economy nationwide which caused companies to reduce spending on travel and entertainment." He also stated that he anticipates that sales generated by The Gold Club(R) in Atlanta will increase in fiscal 1993 as a result of the improving economy and restructuring of club management.
 Howard Klubeck, executive vice president of operations, stated that, "we are positioning the company for rapid growth in fiscal 1993, our goal is to open three new Gold Clubs this fiscal year in other metropolitan markets."
 ENTERTAINMENT CORPORATION OF AMERICA
 Comparative information for the years ended April 30:
 1992 1991
 Net sales $ 5,323,719 $ 6,114,497
 Earnings from operations 822,981 33,012
 Earnings (loss) before income
 taxes 625,243 (1,135,260)
 Income tax benefit (expense) -- 117,357
 Net earnings before allocation
 to minority interest 625,243 (1,017,903)
 Allocation to minority interest -- (30,951)
 Net earnings $ 625,243 $ (986,952)
 Earnings (loss) per share $ .13 $ (0.20)
 Weighted average number
 of shares 4,912,469 4,912,469
 Entertainment Corporation of America is the Dallas based developer and operator of The Gold Club(R), nightclubs featuring adult cabaret entertainment.
 -0- 7/21/92
 /CONTACT: Gary Martin, executive vice president of Entertainment Corporation of America, 214-528-8487/
 (ECCC) CO: Entertainment Corporation of America ST: Texas IN: SU: ERN


SH -- NY087 -- 1441 07/21/92 14:58 EDT
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Publication:PR Newswire
Date:Jul 21, 1992
Words:358
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