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LUBY'S CAFETERIAS ANNOUNCES RESULTS

LUBY'S CAFETERIAS ANNOUNCES RESULTS
    SAN ANTONIO, Texas, June 15 /PRNewswire/ -- Ralph Erben, president and chief executive officer of Luby's Cafeterias, Inc., (NYSE: LUB) today announced results of operations for the third quarter ended May 31, 1992.  Sales reached $91,614,000, an eight percent increase over the same quarter last year.  Net income was $9,053,000 for the quarter, compared to $9,046,000 for the third quarter of fiscal 1991.  Earnings per share were 33 cents in both periods.
    For the nine months, sales increased five percent to $255,379,000 compared to $242,822,000 for the same period last year, and net income decreased by five percent to $22,857,000 from $23,954,000.
    In the third quarter, new locations opened in Memphis and Nashville, Tenn.; Houston, Dallas and El Paso, Texas; and Clearwater, Fla.; and our Victora, Texas, location was relocated.  Currently, we have units under construction in Austin and Lufkin, Texas; Topeka, Kan.; and Kansas City, Mo.; which are scheduled to open during fiscal 1993.
    The San Antonio-based company operates 162 Luby's Cafeterias in nine states.
                         LUBY'S CAFETERIAS, INC.
                  (In Thousands, except per share data)
     Period ended             Three months          Nine months
      May 31                1992        1991       1992      1991
    Sales               $   91,614   $   84,768  $  255,379  $242,822
    Income before
     income taxes           14,036       13,706      35,438    36,294
    Provision for
     income taxes            4,983        4,660      12,581    12,340
    Net income               9,053        9,046      22,857    23,954
    Net income per share       .33          .33         .83       .87
    Average number of
     shares
     outstanding        27,377,581   27,396,432  27,393,808  27,389,799
    -0-             06/15/92
    CONTACT:  John E. Curtis Jr., senior vice president and chief financial officer of Luby's Cafeterias, 512-654-9000
     (LUB) CO:  LUBY'S CAFETERIAS, INC. IN:  FOD SU:  ERN ST:  TX -- NY036 -- X512  06/15/92
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Publication:PR Newswire
Date:Jun 15, 1992
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