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ON THE BORDER CAFES REPORTS FINANCIAL RESULTS

 ON THE BORDER CAFES REPORTS FINANCIAL RESULTS
 DALLAS, June 16 /PRNewswire/ -- On The Border Cafes, Inc.


(NASDAQ: OTBC) today released operating results for the first fiscal quarter of 1992 which ended March 23. The company, which completed an initial public offering of its common stock in early May, acquired during the first quarter three restaurants which it had managed for partnership owners. These acquisitions brought the number of company operated units to eight.
 Pro forma revenues of $5.1 million for the 12 week period were essentially even with pro forma revenues for the first fiscal quarter in the prior year. Pro forma unit level restaurant operating profits increased to 13.4 percent of revenue vs. 12.8 percent a year earlier. Pro forma net income was $.03 per share compared with $.05 for the 1991 quarter.
 Historical revenue of $4.8 million increased 2.6 percent vs. the prior year, and the historical net loss was $.01 per share compared with 1991 first quarter earnings of $.01 per share.
 Mike Fiori, president and chief executive officer, commented, "We are pleased with the progress made in the first quarter of 1992, especially in sales trend. Same store sales in 1991 declined throughout the year compared to 1990. Reversal of that negative trend is the result of hard work and diligence by all our restaurant personnel. Margin improvements were also obtained through solid efforts by our managers. We're looking forward to continuing margin improvements throughout the remainder of 1992."
 Fiori commented further, "Our recent Dallas area radio advertising campaign has shown good results. The campaign was the first time media has been used by On The Border."
 In addition to first quarter results, On The Border also released historical interim operating statements for 1991.
 The company had previously announced that it had purchased a tract of land in Plano, Texas for the purpose of construction of an On The Border Restaurant. The Plano unit is expected to open in the fall of 1992.
 On The Border Cafes, Inc. operates eight full service restaurants in Texas featuring mesquite broiled specialties of Texas and Mexico.
 ON THE BORDER CAFES, INC. AND SUBSIDIARIES
 Comparative Statements of Operations
 Actual
 12 weeks ended: 3/23/92 Pct. chg. 3/25/91(B) Pct. chg
 Revenues
 Food $3,395,531 70.2 $3,241,057 68.7
 Beverage 1,410,073 29.2 1,428,828 30.3
 Other 30,215 0.6 45,151 1.0
 Total 4,835,819 100.0 4,715,036 100.0
 Cost of sales
 Food 1,037,904 30.6 1,013,803 31.3
 Beverage 363,407 25.8 376,639 26.4
 Total 1,401,311 29.0 1,390,442 29.5
 Operating expenses
 Wages 1,394,426 28.8 1,340,044 28.4
 Restaurant operating
 expenses 938,254 19.4 913,724 19.4
 Occupancy cost 427,555 8.8 442,351 9.4
 Total 2,760,235 57.1 2,696,119 57.2
 Royalty fees 96,775 2.0 93,474 2.0
 General and
 administrative
 expenses 405,202 8.4 280,412 5.9
 Depreciation and
 amortization 117,178 2.4 114,760 2.4
 Total 55,118 1.1 139,829 3.0
 Interest expense 39,395 0.8 47,194 1.0
 Income before income
 taxes and minority
 interest 15,723 0.3 92,635 2.0
 Minority interest 33,319 0.7 71,565 1.5
 Income taxes 5,063 0.1 -- 0.0
 Net income (loss) ($22,659) -0.5 $21,070 0.4
 Earnings (loss) per share ($0.01) ($0.01)
 Weighted average number
 of shares outstanding 1,533,754 1,471,085
 Pro Forma (A)
 12 weeks ended: 3/23/92 Pct. chg. 3/25/91(B) Pct. chg
 Revenues
 Food $3,638,226 70.9 $3,612,736 70.0
 Beverage 1,465,815 28.6 1,511,724 29.3
 Other 29,502 0.6 32,955 0.6
 Total 5,133,543 100.0 5,157,415 100.0
 Cost of sales
 Food 1,114,324 30.6 1,129,797 31.3
 Beverage 378,119 25.8 397,703 26.3
 Total 1,492,443 29.1 1,527,500 29.6
 Operating expenses
 Wages 1,490,895 29.0 1,480,600 28.7
 Restaurant operating
 expenses 1,010,434 19.7 1,011,709 19.6
 Occupancy cost 454,045 8.8 477,524 9.3
 Total 2,955,374 57.6 2,969,833 57.6
 Royalty fees -- 0.0 -- 0.0
 General and
 administrative
 expenses 405,202 7.9 280,412 5.4
 Depreciation and
 amortization 130,786 2.5 131,042 2.5
 Total 149,738 2.9 248,628 4.8
 Interest expense 23,538 0.5 23,538 0.5
 Income before income
 taxes and minority
 interest 126,200 2.5 225,090 4.4
 Minority interest -- 0.0 -- 0.0
 Income taxes 49,554 1.0 78,598 1.5
 Net income (loss) $76,646 1.5 $146,492 2.8
 Earnings (loss) per share $0.03 $0.05
 Weighted average number
 of shares outstanding 2,734,197 2,669,028
 (A) -- Pro forma to give effect as of the first day of the period indicated to (i) the acquisition by the company of OTB-Houston, Limited, OTB-West End, Limited and OTB Garland, Limited, (ii) the acquisition of Knox-Travis Corporation and the OTB 1990 Trust's rights to receive royalty fees, (iii) the private placement of $1,200,000 of senior subordinated convertible debentures, and (iv) the initial public offering of 950,000 shares of the company's common stock and the use of a portion of the proceeds to repay the outstanding indebtedness for borrowed money of the company excluding the convertible debentures.
 (B) -- Certain accounts have been reclassified to conform with 1992 presentations.
 ON THE BORDER CAFES, INC.
 Pro Forma Statements of Operations by Quarters
 Year ended Dec. 30, 1991: 1st qtr Pct. chg. 2nd qtr Pct chg
 Revenue
 Food $3,612,736 70.0 $4,110,079 69.3
 Beverage 1,511,724 29.3 1,788,774 30.2
 Other 32,955 0.6 32,281 0.5
 Total 5,157,415 100.0 5,931,134 100.0
 Cost of sales
 Food 1,129,767 31.3 1,291,322 31.4
 Beverage 397,703 26.3 460,334 25.7
 Total 1,527,470 29.6 1,751,656 29.5
 Operating expenses
 Wages 1,480,500 28.7 1,616,291 27.3
 Restaurant operating expenses 1,011,709 19.6 1,106,837 18.7
 Occupancy costs 477,524 9.3 496,736 8.4
 Total 2,969,833 57.6 3,219,864 54.3
 Royalty fees 0 0.0 0 0.0
 General and administrative
 expense 280,412 5.4 278,932 4.7
 Depreciation and amortization 131,042 2.5 131,042 2.2
 Total 248,658 4.8 549,640 9.3
 Interest expense 23,538 0.5 23,538 0.4
 Total 225,120 4.4 526,102 8.9
 Minority interest 0 0.0 0 0.0
 Total 225,120 4.4 526,102 8.9
 Income taxes 78,598 1.5 180,932 3.1
 Net income $ 146,522 2.8 $ 345,170 5.8
 Earnings (loss) per share $ 0.05 $ 0.13
 Weighted average shares 2,669,028 2,669,028
 Year ended Dec. 30, 1991: 3rd qtr Pct. chg. 4th qtr Pct chg
 Revenue
 Food $3,976,236 70.7 $4,523,315 70.9
 Beverage 1,628,783 28.9 1,827,766 28.6
 Other 22,889 0.4 29,875 0.5
 Total 5,627,908 100.0 6,380,956 100.0
 Cost of sales
 Food 1,241,698 31.2 1,452,285 32.1
 Beverage 423,191 26.0 478,262 26.2
 Total 1,664,889 29.6 1,930,547 30.3
 Operating expenses
 Wages 1,616,596 28.7 1,966,083 30.8
 Restaurant operating expenses 1,069,247 19.0 1,296,094 20.3
 Occupancy costs 505,959 9.0 619,375 9.7
 Total 3,191,802 56.7 3,881,552 60.8
 Royalty fees 0 0.0 0 0.0
 General and administrative
 expense 423,030 7.5 475,016 7.4
 Depreciation and amortization 132,894 2.4 170,814 2.7
 Total 215,293 3.8 (76,973) -1.2
 Interest expense 23,538 0.4 31,386 0.5
 Total 191,755 3.4 (108,359) -1.7
 Minority interest 0 0.0 0 0.0
 Total 191,755 3.4 (108,359) -1.7
 Income taxes 67,254 1.2 (31,768) -0.5
 Net income $ 124,501 2.2 $ (76,591) -1.2
 Earnings (loss) per share $ 0.05 $ (0.03)
 Weighted average shares 2,669,861 2,670,278
 1991 Percent Change
 Revenue
 Food $16,222,366 70.2
 Beverage 6,757,047 29.3
 Other 118,000 0.5
 Total 23,097,413 100.0
 Cost of sales
 Food 5,115,072 31.5
 Beverage 1,759,490 26.0
 Total 6,874,562 29.8
 Operating expenses
 Wages 6,679,570 28.9
 Restaurant operating expenses 4,483,887 19.4
 Occupancy costs 2,099,594 9.1
 Total 13,263,051 57.4
 Royalty fees 0 0.0
 General and administrative
 expense 1,457,390 6.3
 Depreciation and amortization 565,792 2.4
 Total 936,618 4.1
 Interest expense 102,000 0.4
 Total 834,618 3.6
 Minority interest 0 0.0
 Total 834,618 3.6
 Income taxes 295,016 1.3
 Net income $ 539,602 2.3
 Earnings (loss) per share $ 0.20
 Weighted average shares 2,670,278
 Certain accounts have been reclassified to conform with 1992 presentations.
 ON THE BORDER CAFES, INC. AND SUBSIDIARIES
 Statement of Operations by Quarter
 Year ended
 Dec. 30, 1991: 1st qtr. Pct chg 2nd qtr. Pct chg 3rd qtr. Pct chg
 Revenue
 Food 3,241,057 68.7 3,685,308 67.9 3,585,684 69.5
 Beverage 1,428,828 30.3 1,691,312 31.2 1,539,772 29.8
 Other 45,151 1.0 47,698 0.9 37,426 0.7
 Total 4,715,036 100 5,424,318 100 5,162,882 100
 Cost of sales
 Food 1,013,803 31.3 1,156,792 31.4 1,113,979 31.1
 Beverage 376,639 26.4 435,892 25.8 399,670 26.0
 Total 1,390,442 29.5 1,592,684 29.4 1,513,649 29.3
 Operating Expenses
 Wages 1,340,044 28.4 1,463,473 27.0 1,464,597 28.4
 Restaurant
 operating
 expenses 913,724 19.4 999,829 18.4 968,091 18.8
 Occupancy cost 442,351 9.4 458,911 8.5 455,619 8.8
 2,696,119 57.2 2,922,213 53.9 2,888,307 55.9
 Royalty fees 93,474 2.0 107,532 2.0 102,581 2.0
 General and
 administrative
 expenses 280,412 5.9 278,932 5.1 423,030 8.2
 Depreciation and
 amortization 114,760 2.4 114,760 2.1 114,759 2.2
 Total 139,829 3.0 408,197 7.5 120,556 2.3
 Interest expense 47,194 1.0 51,533 1.0 48,598 0.9
 Total 92,635 2.0 356,664 6.6 71,958 1.4
 Minority interest 71,565 1.5 50,700 0.9 68,734 1.3
 Total 21,070 0.4 305,964 5.6 3,224 0.1
 Income taxes -- 0.0 -- 0.0 -- 0.0
 Total 21,070 0.4 305,964 5.6 3,224 0.1
 Earnings (loss)
 per share 0.01 0.21 0.00
 Weighted average
 shares 1,471,085 1,469,835 1,469,835
 Year ended Dec. 30, 1991: 4th Qtr. Pct chg 1991 Pct. chg.
 Revenue
 Food 4,055,196 70.0 14,567,245 69.0
 Beverage 1,710,236 29.5 6,370,148 30.2
 Other 29,087 0.5 159,362 0.8
 Total 5,794,519 100 21,096,755 100
 Cost of sales
 Food 1,300,600 32.1 4,585,174 31.5
 Beverage 448,373 26.2 1,660,574 26.1
 Total 1,748,973 30.2 6,245,748 29.6
 Operating Expenses
 Wages 1,774,443 30.6 6,042,557 28.6
 Restaurant
 operating
 expenses 1,165,120 20.1 4,046,764 19.2
 Occupancy cost 578,320 10.0 1,935,201 9.2
 Total 3,517,883 60.7 12,024,522 57.0
 Royalty fees 120,282 2.1 423,869 2.0
 Genl. & admin. expenses 475,016 8.2 1,457,390 6.9
 Depreciation & amortization 153,010 2.6 497,289 2.4
 Total (220,645) -3.8 447,937 2.1
 Interest expense 65,904 1.1 213,229 1.0
 Total (286,549) -4.9 234,708 1.1
 Minority interest 59,220 1.0 250,219 1.2
 Total (345,769) -6.0 (15,511) -0.1
 Income taxes -- 0.0 -- 0.0
 Total (345,769) -6.0 (15,511) -0.1
 Earnings (loss) per share (0.24) (0.01)
 Weighted average shares 1,469,835 1,469,835
 NOTE: Certain accounts have been reclassified to conform with 1992 presentations.
 -0- 6/16/92
 /CONTACT: Stephen D. Fenstermacher, senior vice president-finance, and chief financial officer of On The Border Cafes, 214-905-7500/
 (OTBC) CO: Border Cafes Inc. ST: Texas IN: LEI SU: ERN


TS -- NY050 -- 0690 06/16/92 13:01 EDT
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