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JB'S RESTAURANTS INC. ANNOUNCES FIRST QUARTER RESULTS

 SALT LAKE CITY, Jan. 17 /PRNewswire/ -- JB's Restaurants Inc. (NASDAQ: JBBB) announced today a net loss of $537,000, or $0.11 per share, for the fiscal first quarter ended Dec. 20, 1993, compared with net income of $124,000, or $0.03 per share, for the prior year.
 Total revenues for the first quarter were $24.2 million, a decrease of 5.1 percent from revenues of $25.5 million for the same quarter last year. The decrease in revenues is primarily the result of fewer restaurants in operation during the quarter and a decline in JB's Restaurants same store sales of 2.3 percent.
 "Results for the quarter were negatively impacted by the decline in sales and increased labor costs associated with training and increased scheduling to improve customer service in the JB's Restaurants, along with the recording of higher insurance and advertising costs in the quarter vs. the prior year. In addition, the company recorded a $370,000 pre-tax gain from the sale of two company-operated JB's Restaurants to a franchisee," commented David E. Pertl, vice president and chief financial officer.
 During the quarter, one new HomeTown Buffet restaurant opened in Scottsdale, Ariz. Four other HomeTown Buffet restaurants are currently under construction with openings scheduled during the second quarter.
 As previously announced, Don M. McComas joined the company as president and chief executive officer on Jan. 3, 1994. "Don brings to JB's more than 20 years of restaurant experience. Given Don's proven track record and leadership skills, we expect to see a new positive direction at JB's," commented Clark D. Jones, chairman of the board.
 JB's Restaurants Inc. has restaurant operations in nine western states in which it operates 93 and franchises 17 JB's family-style restaurants and operates seven franchised HomeTown Buffet restaurants. The company also owns an approximate 16 percent interest in HomeTown Buffet Inc. (NASDAQ: HTBB), the franchisor of HomeTown Buffet restaurants.
 JB'S RESTAURANTS INC.
 Consolidated Statements of Operations
 (Unaudited)
 First Quarter Ended
 Dec. 20, Dec. 21,
 1993 1992
 Total revenues $24,228,000 100.0% $25,519,000 100.0%
 Costs and expenses
 Food costs 7,708,000 31.8 8,014,000 31.4
 Restaurant operating
 expenses 14,624,000 60.4 13,955,000 54.7
 General & administrative
 expenses 1,413,000 5.8 1,385,000 5.4
 Depreciation and
 amortization 1,379,000 5.7 1,602,000 6.3
 Total costs and
 expenses 25,124,000 103.7 24,956,000 97.8
 Income (loss) from
 operations (896,000) -3.7 563,000 2.2
 Interest and other
 income (expense), net (371,000) -1.5 (433,000) -1.7
 Gains on sales of
 restaurants to
 franchisees 370,000 1.5 80,000 0.3
 Income (loss) before
 income taxes (897,000) -3.7 210,000 0.8
 Income taxes (benefit) (360,000) -1.5 86,000 0.3
 Net income (loss) ($537,000) -2.2% $124,000 0.5%
 Net income (loss)
 per common share ($0.11) $0.03
 Weighted average shares
 outstanding 4,765,419 4,747,135
 -0- 1/17/94
 /CONTACT: David E. Pertl, VP and CFO, of JB's Restaurants, 801-974-4300/
 (JBBB HTBB)


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

JL-LS -- LA004 -- 2380 01/17/94 08:31 EST
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Publication:PR Newswire
Date:Jan 17, 1994
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