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GENERAL NUTRITION, INCORPORATED, REPORTS EARNINGS

 GENERAL NUTRITION, INCORPORATED, REPORTS EARNINGS
 PITTSBURGH, Sept. 1 /PRNewswire/ -- General Nutrition, Incorporated,


the nation's largest specialty retailer of vitamins, sports nutrition and other food supplement products, today reported that for the second quarter ended July 18, 1992, operating earnings (earnings before interest, income taxes and extraordinary items) increased by 44.5 percent on a net revenue increase of 14.4 percent over the second quarter of 1991.
 General Nutrition's net income was $2,355,000 on consolidated revenue of $100,253,000 for the second quarter of 1992, as compared with a net loss of $2,187,000 on consolidated revenue of $87,645,000 for the second quarter of 1991.
 For the 24 weeks ended July 18, 1992, General Nutrition had net income of $3,310,000 on consolidated revenue of $207,225,000 as compared with a net loss of $3,476,000 on consolidated revenue of $181,386,000 for the 24 weeks ended July 20, 1991. Net income for the 24 weeks ended July 18, 1992, and July 20, 1991, was adjusted for an extraordinary expense in 1992 of $812,000 and an extraordinary gain of $182,000 in 1991. The extraordinary expense in 1992 is a one-time charge for deferred financing fees related to the retirement of the company's increasing rate notes on March 12, 1992. Operating earnings for the same period were $21,959,000 in 1992 and $14,211,000 in 1991, or a 54.5 percent increase.
 The company's operating earnings were $9,751,000 in the second quarter of 1992 or 9.7 percent of net revenue as compared with $6,746,000 or 7.7 percent of net revenue in the second quarter of 1991. The improved operating earnings were generated from growth in each of its operating divisions: Retail, Franchising and Manufacturing. In the continued weak economic environment, the Retail Division had a comparative store sales increase of 12.8 percent for the quarter as compared with the same period in 1991. Franchising opened 30 franchised GNC stores in the second quarter of 1992 and has grown to 206 operating stores at the end of the second quarter. Franchising awarded an additional 44 stores in the quarter.
 General Nutrition, Incorporated, is a wholly owned subsidiary of General Nutrition Companies, Inc. Substantially all of the outstanding capital stock of General Nutrition Companies, Inc., is held by the Thomas H. Lee Company (a private investment firm), its affiliates and General Nutrition's management.
 GENERAL NUTRITION, INCORPORATED, AND SUBSIDIARIES
 Consolidated Statements of Operations
 (Unaudited; in thousands)
 Period 12 Weeks 24 Weeks
 Ended 7/18/92 7/20/91 7/18/92 7/20/91
 Net revenue $100,253 $87,645 $207,225 $181,386
 Cost of sales,
 including costs of
 warehousing,
 distribution and
 occupancy 64,223 57,327 131,140 118,660
 Selling, general
 & administrative 24,717 22,006 51,002 45,386
 Amortization of
 goodwill 1,562 1,566 3,124 3,129
 Operating earnings 9,751 6,746 21,959 14,211
 Interest expense 5,950 8,743 14,154 17,597
 Earns. (loss) bef.
 inc. taxes and
 extraord. item 3,801 (1,997) 7,805 (3,386)
 Inc. taxes (benefit) 1,446 190 3,683 272
 Earns. (loss) bef.
 extraordinary item 2,355 (2,187) 4,122 (3,658)
 Extraord. gain (loss)
 from early retirement
 of debt, net of income
 taxes (tax benefit) of
 ($418) and $94 -- -- (812) 182
 Net earnings (loss) 2,355 (2,187) 3,310 (3,476)
 Notes to consolidated condensed financial statements are an integral part of this statement.
 /delval/
 -0- 9/1/92
 /CONTACT: Edwin J. Kozlowski, senior vice president and chief financial officer of General Nutrition, Incorporated, 412-288-4661/ CO: General Nutrition, Incorporated; General Nutrition Companies, Inc. ST: Pennsylvania IN: REA SU: ERN


DM-AL -- PG008 -- 5444 09/01/92 12:39 EDT
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Date:Sep 1, 1992
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