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FINANCIAL RESULTS FOR THE BARBERS, HAIRSTYLING FOR MEN & WOMEN, INC. FOR YEARS ENDED 1991 AND 1992

 MINNEAPOLIS, Dec. 30 /PRNewswire/ -- The Barbers, Hairstyling for Men & Women, Inc., today announced earnings for fiscal year 1992 of $68,406 or $.04 per share. This was a decrease of $.08 per share from the prior year. Net revenue totaled $11,483,660, an increase of 1.5 percent.
 Fred Huggins, president and chief executive officer, attributed the decline in earnings to a decrease in new store openings. Initial franchise fees for new salons were down $300,000 from the previous year because of a lack of funding for the franchisee's development. Huggins stated, "We have franchisees ready to expand, but they are slowed without some form of bank financing. In the past, these franchisees had no problem getting funds from their local banks. The current state of the banking industry makes it very difficult for our franchisees to finance their growth."
 Huggins went on to state that, "We have streamlined our management team over the last year to improve our profitability while still allowing us to focus our efforts on our main businesses. The profit impact of these changes will be evident in next year's results.
 System-wide sales were $104.7 million in fiscal 1992, up from $94.5 million the prior year.
 THE BARBERS, HAIRSTYLING FOR MEN & WOMEN, INC.
 9/24/92 9/26/91
 Revenues $11,483,660 $11,303,658
 Net income $68,406 $202,905
 Earnings per share $.04 $.12
 -0- 12/30/92
 /CONTACT: Frederick A. Huggins, president of The Barbers, 612-331-8500/


CO: The Barbers, Hairstyling for Men & Women, Inc. ST: Minnesota IN: SU: ERN

KH -- MN003 -- 0586 12/30/92 11:14 EST
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Publication:PR Newswire
Date:Dec 30, 1992
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