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SOUTHWEST CAFES, INC. ANNOUNCES THIRD QUARTER FISCAL 1992 RESULTS

     SOUTHWEST CAFES, INC. ANNOUNCES THIRD QUARTER FISCAL 1992 RESULTS
    DALLAS, Feb. 24 /PRNewswire/ -- Southwest Cafes, Inc. (NASDAQ: TXMX), today announced financial results for the quarter ended Feb. 3, 1992.  The net income for the quarter increased 22.1 percent to $464,000, or 11 cents per share, up from $380,000, or 9 cents per share, for the same 12 week period a year ago.  Earnings improved as a result of increased restaurant sales and improved labor related costs.
    Net sales from company operations were $20,467,000, an increase of 7.3 percent from the $19,081,000 recorded a year ago.  All components of net sales increased.  Sales from company-owned stores increased 4.9 percent from $18,451,000 to $19,362,000.  Franchise related income increased from $384,000 to $389,000.  Sales of equipment increased from $246,000 to $716,000.
    Southwest Cafes, Inc., a Dallas-based company, owns and franchises a group of 90 full-service, "Tex-Mex" style Mexican and concept restaurants in 12 states throughout the southern and southwestern regions of the United States.
               SOUTHWEST CAFES, INC. FINANCIAL RESULTS
                                12 Weeks Ended     12 Weeks Ended
                                 Feb. 3, 1992       Feb. 4, 1991
    Net sales-company operations  $20,467,000        $19,081,000
    Income before income tax      $   653,000        $   541,000
    Net income                    $   464,000        $   380,000
    Per share income              $      0.11        $      0.09
    Weighted avg. shares & com.
     equivalent shares outstng.     4,324,082          4,349,981
                                36 Weeks Ended     36 Weeks Ended
                                 Feb. 3, 1992       Feb. 4, 1991
    Net sales-company operations  $61,640,000        $58,564,000
    Income before income tax      $ 1,567,000        $ 1,145,000
    Net income                    $ 1,057,000        $   790,000
    Per share income              $      0.25        $      0.18
    Weighted avg. shares & com.
     equivalent shares outstng.     4,308,277          4,420,578
    -0-                            2/24/92
    /CONTACT:  Gary W. Coder, executive vice president & chief financial officer of Southwest Cafes, 214-241-5500/
    (TXMX) CO:  Southwest Cafes, Inc. ST:  Texas IN:  LEI SU:  ERN AH -- NY086 -- 2099 02/24/92 17:50 EST
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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.

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Publication:PR Newswire
Date:Feb 24, 1992
Words:334
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