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LDB CORPORATION REPORTS RESULTS FOR SECOND QUARTER OF FISCAL 1992

 LDB CORPORATION REPORTS RESULTS FOR SECOND QUARTER OF FISCAL 1992
 KERRVILLE, Texas, March 16 /PRNewswire/ -- LDB Corporation (NASDAQ: LDBC) today reported operating results for the three months ended Jan. 31, 1992. Net loss for the quarter amounted to $751,000 on revenues of $11,774,000 compared with a net loss of $528,000 on revenues of $15,581,000 for the three months ended Jan. 31, 1991. Net loss for the year was $1,270,000 on revenues of $24,689,000.
 In February 1992, the company successfully completed a debt restructuring with its major bank creditor whereby its note purchase obligation was converted into a $5,000,000 collaterized note, the Series K preferred stock retired, and all litigation with this creditor was dismissed. Mr. Gatti's, Inc. is continuing to renegotiate its bank debt and property leases and must obtain court approval prior to emerging from bankruptcy.
 LDB CORPORATION
 CONDENSED STATEMENTS OF INCOME (LOSS)
 (In thousands, except per share data)
 Three months Six months
 Ended Jan. 31, Ended Jan. 31,
 1992 1991 1992 1991
 Revenue $11,774 $15,581 $24,689 $32,132
 Loss before income
 taxes ($757) ($528) ($1,270) ($5,137)
 Provision for taxes 6 -- -- --
 Net loss (751) (528) (1,270) (5,137)
 Preferred stock
 dividends in arrears
 since July 1990 -- 112 -- 225
 Net loss to common
 shareholders ($751) ($640) ($1,270) ($5,362)
 Net loss per common
 share ($0.41) ($0.34) ($0.69) ($2.87)
 Average common shares 1,848,370 1,868,370 1,853,370 1,868,370
 -0- 3/16/92
 /CONTACT: Byron C. Smith of LDB Corporation, 512-257-2000/
 (LDBC) CO: LDB Corporation ST: Texas IN: LEI SU: ERN


PS -- NY082 -- 8512 03/16/92 17:34 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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