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KMC ENTERPRISES ANNOUNCES THIRD QUARTER RESULTS

 KMC ENTERPRISES ANNOUNCES THIRD QUARTER RESULTS
 SAN JOSE, Calif., Nov. 19 /PRNewswire/ -- KMC Enterprises Inc.,


(NASDAQ: KMCI) today reported results for the third quarter ended Sept. 30, 1991.
 Revenues and loss from continuing operations for the third quarter 1991 were $21,335,000 and $1,438,000, respectively. Net loss was $1,438,000, or 36 cents per share, compared to net loss of $375,000, or 9 cents per share, in the same 1990 period. Included in the third quarter 1990 results was a loss from discontinued operations of $404,000 from the company's former Nutri/System weight loss business.
 KMC Enterprises Inc. owns 62 percent of the outstanding common stock of Krause's Sofa Factory, a manufacturer and retailer of made- to-order upholstered furniture based in Brea, Calif. The company also operates two Great Expectations(R) video dating service franchise centers located in the cities of Sausalito and Mountain View, Calif.
 KMC ENTERPRISES INC.
 SUMMARY OF OPERATIONS
 (In Thousands, Except Per Share Results)
 Quarter Ended Nine Months Ended
 Sept. 30 Sept. 30
 1991 1990 1991 1990
 Revenues from
 continuing
 operations $21,335 $ 266 $32,817 $ 620
 Costs and
 expenses 22,998 218 36,922 1,512
 Income (loss)
 from continuing
 operations before
 income taxes (1,663) 48 (4,105) (892)
 Income tax benefit
 (expense) 225 (19) 436 357
 Income (loss) from
 continuing
 operations (1,438) 29 (3,669) (535)
 Loss from
 discontinued
 operations net
 of income tax
 benefit of $283
 and $90 -- (404) -- (285)
 Gain from sale of
 discontinued
 business assets
 net of income
 taxes of $4,307 -- -- -- 6,460
 Net Income
 (loss) $(1,438) $(375) $(3,669) $5,640
 Income (loss) per
 share:
 Continuing
 operations $(.36) $.01 $(.92) $(.13)
 Discontinued
 operations -- (.10) -- (.06)
 Gain from sale
 of discontinued
 business -- -- -- 1.54
 Net income
 (loss) $(.36) $(.09) $(.92) $1.35
 Weighted average
 number of common
 and common
 equivalent shares
 outstanding 3,978 4,171 3,976 4,183
 -0- 11/19/91
 /CONTACT: Robert G. Sharpe of KMC Enterprises, 408-436-7467/
 (KMCI) CO: KMC Enterprises Inc. ST: California IN: FOD SU: JL -- SJ007 -- 5182 11/19/91 19:08 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 19, 1991
Words:350
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