Printer Friendly

REGIS CORPORATION ANNOUNCES RESULTS FOR QUARTER AND NINE MONTHS ENDED MARCH 31, 1992

 REGIS CORPORATION ANNOUNCES RESULTS FOR QUARTER
 AND NINE MONTHS ENDED MARCH 31, 1992
 MINNEAPOLIS, May 6 /PRNewswire/ -- Regis Corporation (NASDAQ-NMS: RGIS) today announced sales and earnings for the three- and nine-months periods ended March 31, 1992. Sales in the third quarter of fiscal 1992 increased 6.3 percent to $77,091,000. Same-store sales grew 4.9 percent during the quarter. Earnings for the third quarter of the current year more than doubled to $753,000, or $.08 per share, compared to fiscal 1991 third-quarter earnings of $223,000, or $.04 per share.
 Sales through the first nine months of fiscal 1992 were $227,191,000, an increase of $16,534,000, or 7.8 percent, from pro forma sales of $210,657,000 generated in the first nine months last year. (Actual sales during the first nine months last year were $231,712,000, inclusive of $21,055,000 in sales from the company's Essanelle department store salon operations which were divested in August 1990.) Same-store sales increased 2.4 percent through the first nine months of the current year.
 Net income for the nine-month period ended March 31, 1992, was $2,956,000, or $.32 per share, compared to a net loss of $3,780,000, or $.66 per share, in the first nine months of last year. Fiscal 1992 results have been reduced by a non-recurring loss of $240,000, or $.03 per share, associated with the company's 16 percent equity interest in the results of MEI-Regis. Prior year results were reduced by certain one-time charges in the first quarter as well as higher interest costs.
 Paul Finkelstein, president and chief operating officer, stated, "We are encouraged by our results in light of a more challenging economic environment. Our third-quarter same-store sales increase of 4.9 percent was promising given the late Easter holiday season this year. In addition, we were particularly pleased by the last week of the quarter in which we achieved the highest single-week U.S. and Canadian sales volume in the company's 50-year history, topping $6,300,000 in connection with our annual Customer Appreciation Days promotion."
 Salon expansion continues to be financed entirely from cash flow. The company has opened 39 new Regis Hairstylists and MasterCuts salons through the first nine months of the current year and remodeled 20 existing units.
 Regis Corporation owns and operates 1,141 hairstyling salons and is North America's leading specialty retailer of hairstyling services in mall locations. The company employs over 14,000 associates and provides the highest quality hair care to customers in 50 states, Canada, the United Kingdom, Mexico and Puerto Rico. The company's common shares are traded in the NASDAQ National Market System under the symbol RGIS.
 REGIS CORPORATION
 Consolidated Statement of Operations
 (Unaudited)
 (In thousands, except per-share amounts and salon data)
 Three Months Ended Nine Months Ended
 3/31/92 3/31/91 3/31/92 3/31/91(a,b,c)
 Sales $77,091 $72,515 $227,191 $231,712
 Operating income 3,682 4,346 12,378 9,478
 Income (loss) before
 income taxes 1,483 1,043 5,834 (2,953)
 Net income (loss) $753 $233 $2,956 $(3,780)
 Net income (loss) per share $.08 $.04 $.32 $(.66)
 Weighted average number
 of shares outstanding 9,380 5,700 9,342 5,700
 Number of salons open
 at end of period 1,141 1,124 1,141 1,124
 (a) Includes sales and operating loss associated with the company's divested Essanelle salon operations of $21,055,000 and $(181,000), respectively.
 (b) Includes loss on sale of Essanelle of $2,031,000.
 (c) Includes a one-time special officer bonus of $4,833,000.
 -0- 5/6/92
 /CONTACT: Paul D. Finkelstein or Frank E. Evangelist, 612-929-6776, both of Regis Corporation/
 (RGIS) CO: Regis Corporation ST: Minnesota IN: SU: ERN


AL -- MN009 -- 7199 05/06/92 15:04 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 6, 1992
Words:649
Previous Article:FORD MOTOR COMPANY TO AWARD 10 FORD/PELE' SOCCER SCHOLARSHIPS
Next Article:BOEING, CATHAY PACIFIC SIGN FOR 777s, ONE 747-400
Topics:


Related Articles
REGIS CORPORATION ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED SEPT. 30, 1991
REGIS CORPORATION ANNOUNCES RESULTS FOR QUARTER AND SIX MONTHS ENDED DEC. 31, 1991
UNIVERSAL CORPORATION ANNOUNCES EARNINGS
REGIS CORPORATION ANNOUNCES RESULTS
REGIS REPORTS THIRD QUARTER RESULTS; QUARTER SHOWS SOLID INCREASE IN EPS
REGIS REPORTS RECORD THIRD QUARTER SALES AND EARNINGS; ALL DIVISIONS CONTRIBUTE TO DOUBLE-DIGIT INCREASES
Regis Reports Third Quarter Sales And Earnings
Regis Reports Record Third Quarter and Nine Month Revenues and Earnings
Regis Corporation Reports Record Third Quarter Results - Revenues Grow 15 Percent to $288 Million - - EPS Reaches $0.28, a 22 Percent Increase - -...
Regis Corporation Reports Record Third Quarter Results.

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