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LDB CORPORATION ANNOUNCES RESULTS FOR THIRD QUARTER OF FISCAL 1992

 LDB CORPORATION ANNOUNCES RESULTS FOR THIRD QUARTER OF FISCAL 1992
 KERRVILLE, Texas, June 15 /PRNewswire/ -- LDB Corporation (NASDAQ: LDBC) today reported operating results for the three months ended April 30, 1992. Net loss for the quarter amounted to $498,000 on revenues of $12,489,000 compared with a net loss of $1,932,000 on revenues of $15,835,000 for the three months ended April 30, 1991. Net loss for the year was $1,767,000 on revenues of $37,178,000.
 In February, 1992, the company successfully completed a debt restructuring with its major bank creditor whereby its note purchase obligation was converted into a $5 million collateralized note, the Series K Preferred Stock retired, and all litigation with this creditor was dismissed.
 Gatti's, Inc. has been notified that an agreement in principal previously reached with the agent of the FDIC regarding its bank debt is not acceptable and must be renegotiated. This matter must be resolved and court approval of a plan of reorganization obtained prior to emerging from Chapter 11.
 LDB CORPORATION
 Condensed Statements Of Income (Loss)
 (In thousands except per share data)
 Periods ended Three Months Nine Months
 April 30 1992 1991 1992 1991
 Revenue $12,489 $15,835 $37,178 $47,966
 Loss before income taxes
 and discontinued operations ($498) ($4,527) ($1,767) ($9,664)
 Provision for taxes -- -- -- --
 Loss from continuing
 operations (498) (4,527) (1,767) (9,664)
 Income from discontinued
 operations -- 2,595 -- 2,595
 Net loss (498) (1,932) (1,767) (7,069)
 Preferred stock dividends
 in arrears since July 1990 -- 113 -- 338
 Net loss to common
 shareholders ($498) ($2,045) ($1,767) ($7,407)
 Net loss per common share:
 continuing operations ($0.27) ($2.48) $(0.95) ($5.35)
 discontinued operations -- 1.39 -- 1.39
 Total ($0.27) ($1.09) ($0.95) ($3.96)
 Average common shares 1,848,370 1,868,370 1,851,703 1,868,370
 -0- 6/15/92
 /CONTACT: Byron C. Smith of LDB Corporation, 512-257-2000/
 (LDBC) CO: LDB Corporation ST: Texas IN: LEI SU: ERN


LR -- NY087 -- 0388 06/15/92 17:53 EDT
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Publication:PR Newswire
Date:Jun 15, 1992
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