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LDB CORPORATION REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR ENDED JULY 31, 1993

 KERRVILLE, Texas, Oct. 29 /PRNewswire/ -- LDB Corporation (NASDAQ: LDBC) today reported results for the fiscal year ended July 31, 1993. Net income for the year amounted to $860,000 on revenues of $41,824,000, compared to a net loss of $7,627,000 on revenues of $49,550,000 for fiscal year 1992. Net income for the quarter amounted to $317,000 on revenues of $10,442,000 compared to a net loss of $5,860,000 on revenues of $12,372,000 for the three months ended July 31, 1992. Included in the net income for 1993 was an extraordinary gain of $729,000, net of tax, as a result of the company exercising the prepayment discount feature on a collateralized note with a bank.
 As previously announced, during the year the company's subsidiary, Mr. Gatti's, Inc., emerged from Chapter 11 Bankruptcy proceedings when its plan of reorganization was confirmed by the Court. The plan provides for payment in full to all creditors and received 100 percent approval from the creditors.
 The company, through its principal operating subsidiary, Mr. Gatti's, Inc., is engaged in the operation and franchising of family oriented pizza restaurants. At July 31, 1993 there were 230 Mr. Gatti's pizza restaurants located in 13 states, of which 171 were franchised and 59 were company owned.
 LDB CORPORATION
 Condensed Statements Of Income (Loss)
 (In Thousands Except Per Share Data)
 Three Months Ended Year Ended
 July 31 July 31
 1993 1992 1993 1992
 Revenues $10,442 $12,372 $41,824 $49,550
 Income (Loss) before
 Income Taxes and
 Extraordinary item $ 317 ($5,860) $ 131 ($7,627)
 Provision for income
 Taxes -- -- -- --
 Income (Loss) Before
 Extraordinary item $ 317 $(5,860) $ 131 ($7,627)
 Extraordinary item - Gain
 on Extinguishment of Debt -- -- 729 --
 Net Income (Loss) $ 317 ($5,860) $ 860 ($7,627)
 Income (Loss) Per Common
 Share:
 Continuing Operations $ 0.17 ($3.17) $ 0.07 ($ 4.12)
 Extraordinary item -- -- 0.39 --
 Net Income (Loss)
 Per Share $ 0.17 ($3.17) $0.46 ($ 4.12)
 Average Common Shares
 Outstanding 1,848,370 1,848,370 1,848,370 1,850,870
 STOCKHOLDER'S EQUITY
 Net Equity at July 31 $4,198,647 $3,338,261
 Book Value Per Share $ 2.27 $ 1 .81
 -0- 10/29/93
 /CONTACT: Charles C. Thomas of LDB Corporation, 210-257-2000/
 (LDBC)


CO: LDB Corporation ST: Texas IN: FOD SU: ERN

WB -- NY100 -- 8749 10/29/93 18:01 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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