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LDB CORPORATION REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR ENDED JULY 31, 1992

 LDB CORPORATION REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR
 ENDED JULY 31, 1992
 KERRVILLE, Texas, Oct. 29 /PRNewswire/ -- LDB Corporation (NASDAQ: LDBC) today reported operating results for the fiscal year ended July 31, 1992. Net loss for the year was $7,627,000 on revenues of $49,550,000. Included in the net loss is $7,526,000 of charges relating primarily to the writeoff of the goodwill recorded at the acquisition of the company's subsidiary, Mr. Gatti's, Inc., which filed for Chapter 11 reorganization during the year.
 During fiscal 1992, the company successfully completed negotiations with a bank whereby its note purchase obligation was converted to a $5,000,000 collateralized note at below market rates of interest (currently 3 percent). In return, the company received from the bank its Series K 9 percent Preferred Stock which was subsequently retired and all litigation with the bank was dismissed.
 Mr. Gatti's Chapter 11 plan of reorganization filed with the bankruptcy court provides for payment in full to all creditors over varying periods of time. The confirmation hearing with the court is scheduled for December 2, 1992. When Mr. Gatti's, Inc. emerges from Chapter 11, the company's restructuring program will be substantially completed.
 LDB CORPORATION
 CONDENSED STATEMENTS OF INCOME (LOSS)
 (In Thousands Except Per Share Data)
 Three Months Ended Year Ended
 July 31 July 31
 1992 1991 1992 1991
 Revenues $ 12,372 $ 15,112 $ 49,550 $ 63,078
 Loss Before Income Taxes,
 Discontinued Operations
 and Extraordinary item $ (5,860) $(11,992) $ (7,627) $(21,656)
 Provision (Credit) for
 Income Taxes -- (1,405) -- (1,405)
 Loss Before Discontinued
 Operations and Extraordinary
 item (5,860) (10,587) (7,627) (20,251)
 Income from Discontinued
 Operations -- -- -- 2,595
 Net Loss before Extraordinary
 item (5,860) (10,587) (7,627) (17,656)
 Extraordinary item -- gain on
 Extinguishment of Debt -- 971 -- 971
 Net Loss $ (5,860) $ (9,616) $ (7,627) $(16,685)
 Loss Per Common Share:
 Continuing Operations Before
 Extraordinary item $ (3.17) $ (5.49) $ (4.12) $ (10.84)
 Discontinued Operations -- -- -- 1.39
 Extraordinary Item -- 0.52 -- 0.52
 Net Loss Per Share $ (3.17) $ (4.97) $ (4.12) $ (8.93)
 Average Common Shares
 Outstanding 1,848,370 1,868,370 1,850,870 1,868,370
 STOCKHOLDERS' EQUITY
 Net Equity at July 31 $ 3,338,261 $10,988,498
 Book Value Per Share $1.81 $5.88
 -0- 10/29/92
 /CONTACT: Byron Smith of LDB Corporation, 512-257-2000/
 (LDBC) CO: LDB Corporation ST: Texas IN: SU: ERN


KD -- NY112 -- 6878 10/29/92 18:31 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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