Printer Friendly

MAIN ST. & MAIN INC. ANNOUNCES FIRST QUARTER PROFIT

 MAIN ST. & MAIN INC. ANNOUNCES FIRST QUARTER PROFIT
 SCOTTSDALE, Ariz., May 21 /PRNewswire/ -- Main St. & Main Inc.


(NASDAQ: MAIN, MAIN U) (the "company") today announced its fourth consecutive quarterly profit. The company earned $100,000 on sales of $5,617,000 in the first quarter of 1992, compared with a loss of $156,000 on sales of $2,940,000 in the first quarter of 1991. Management attributed the sales growth to the addition of T.G.I. Friday's restaurants in Seattle, Portland, Ore., and Scottsdale, none of which were owned or operated by the company in the first quarter of 1991. Management also stated that the growth in sales, relatively constant operating costs and a reduction in general and administrative expenses contributed to the improved results.
 Steven Sherman, chairman and chief executive officer, commented: "We are very pleased with the first quarter performance. With the opening of our Fiddlesticks family entertainment center and our just completed acquisition of Carnation Dairy, we now have a stronger, more diverse operating base."
 Main St. & Main Inc. is engaged in the business of acquiring, developing and operating enterprises in the food and entertainment industries, including enterprises in the business of casual dining and family entertainment centers.
 MAIN ST. & MAIN INC.
 Summary of Consolidated Financial Data
 Quarter Ended
 March 30, 1992 April 1, 1991
 (unaudited) (unaudited)
 Operating data:
 Revenues $5,617,000 $2,940,000
 Net income $100,000 ($156,000)
 Share earnings $.01 ($.02)
 Primary average
 shares outstanding 9,736,000 6,541,000
 March 30, 1992 Dec. 30, 1991
 (unaudited)
 Balance sheet data:
 Working capital $2,995,000 $3,615,000
 Total assets 12,216,000 11,124,000
 Net long-term debt 2,027,000 2,040,000
 Shareholders' equity 7,194,000 7,094,000
 -0- 5/21/92
 /CONTACT: Joe Panter of Main St. & Main, 602-951-3200/
 (MAIN MAIN U) CO: Main St. & Main Inc. ST: Arizona IN: LEI SU: ERN


DM-AL -- LA001 -- 2678 05/21/92 09:30 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 21, 1992
Words:329
Previous Article:CYTRX ANNOUNCES PATENT APPLICATION
Next Article:AMERICAN PRESIDENT COMPANIES ANNOUNCES PRELIMINARY 1992 FIRST QUARTER RESULTS
Topics:


Related Articles
MAIN ST. & MAIN ANNOUNCES THIRD QUARTER PROFIT
MAIN ST. & MAIN ANNOUNCES THIRD QUARTER PROFIT
MAIN ST. & MAIN INC. ANNOUNCES GRAND OPENING OF T.G.I. FRIDAY'S IN SEOUL, KOREA
MAIN ST. & MAIN INC. ANNOUNCES FIFTH CONSECUTIVE QUARTERLY PROFIT
MAIN ST. & MAIN INC. ANNOUNCES NEW T.G.I. FRIDAY'S SITE
MAIN ST. & MAIN INC. ANNOUNCES THIRD QUARTER RESULTS
MAIN ST. & MAIN INC. ANNOUNCES 1992 YEAR-END RESULTS
MAIN ST. & MAIN INC. ANNOUNCES FIRST QUARTER RESULTS AND THE COMPLETION OF WARRANT CONVERSION
MAIN ST. & MAIN INC. ANNOUNCES SECOND QUARTER RESULTS
MAIN STREET AND MAIN INC. ANNOUNCES THIRD QUARTER RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters