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JB'S RESTAURANTS INC. ANNOUNCES FIRST QUARTER RESULTS

 SALT LAKE CITY, Jan. 19 /PRNewswire/ -- JB's Restaurants Inc. (NASDAQ: JBBB) announced today net income of $124,000 or $0.03 per share for the fiscal first quarter ended Dec. 21, 1992, compared with a break-even quarter in the prior year.
 Revenues for the first quarter were $25.5 million, a decrease of 4.2 percent from revenues of $26.6 million for the same quarter last year. The decrease in revenues for the quarter is primarily the result of fewer restaurants. The company operated 107 JB's Restaurants at the end of the fiscal quarter compared to 135 at the end of the same period of the prior year. The decrease in operating units is primarily the result of the sale of 23 under-performing JB's Restaurants to IHOP Corp. in the fourth quarter of fiscal 1992. With the disposition of these under-performing JB's Restaurants, average store sales increased 4.2 percent for the quarter while same store sales (sales from stores open in both fiscal 1993 and 1992) declined 1.6 percent.
 "The first quarter profit improvement is a direct result of the positive impact of the disposition of under-performing JB's Restaurants and the contribution of the company's four new HomeTown Buffet restaurants," commented Fred P. Gonzales, the company's president and chief executive officer.
 There were no new HomeTown Buffet restaurant openings during the quarter. Although initial openings have been slower than expected, the company still plans to open 20 new HomeTown Buffet restaurants over the next two years. "Building an inventory of potential sites has proven more difficult and time-consuming than we first expected. The last thing we want to do is move too fast and not get the right deal for a successful HomeTown Buffet restaurant," said David E. Pertl, vice president and chief financial officer.
 JB's Restaurants Inc. has restaurant operations in 11 western states in which it currently operates 106 and franchises seven JB's family-style restaurants, operates 13 franchised Sbarro restaurants and operates four franchised HomeTown Buffet restaurants. The company also owns an approximate 25 percent interest in Americana Entertainment Group Inc., the parent company of HomeTown Buffet Inc., which currently operates seven HomeTown Buffet restaurants in California and southern Oregon.
 JB'S RESTAURANTS INC.
 Consolidated Statements of Operations
 (Unaudited)
 12 Weeks Ended
 Dec. 21, Dec. 23,
 1992 1991
 Total revenues $25,519,000 $26,627,000
 Costs and expenses
 Food costs 8,014,000 8,020,000
 Operating, selling and
 administrative
 expenses 15,340,000 16,474,000
 Depreciation and
 amortization 1,602,000 1,720,000
 Total costs and
 expenses 24,956,000 26,214,000
 Income from operations 563,000 413,000
 Interest and other
 income (expense), net (353,000) (401,000)
 Income before income
 taxes 210,000 12,000
 Income taxes 86,000 4,000
 Net income $124,000 $8,000
 Net income per common
 share $0.03 $0.00
 Weighted average shares
 outstanding 4,747,135 4,613,154
 -0- 1/19/93
 /CONTACT: David E. Pertl, VP and CFO of JB's Restaurants, 801-974-4300/
 (JBBB)


CO: JB's Restaurants Inc. ST: Utah IN: LEI SU: ERN

JB-LS -- LA003 -- 6154 01/19/93 09:01 EST
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Publication:PR Newswire
Date:Jan 19, 1993
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