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SPAGHETTI WAREHOUSE, INC. REPORTS REVENUES AND INCOME FOR THE FIRST QUARTER OF FISCAL 1994

 GARLAND, Texas, Nov. 1 /PRNewswire/ -- Spaghetti Warehouse, Inc., (SWH) which is traded on the New York Stock Exchange, today announced results for the 13 weeks ended Oct. 3, 1993.
 Revenues for the 13 weeks ended Oct. 3, 1993 were $19.5 million, a 17.0 percent increase over revenues of $16.7 million for the 13-week period ended Oct. 4, 1992. Net income for the quarter was $931,837 compared to net income for the prior year of $1,408,732. Both primary and fully-diluted earnings per share for the quarter were $.15 this year, compared to $.22 for the prior year.
 The 21-year-old company operates a chain of 33 company-owned and seven franchised restaurants in 17 states and Canada. The company opened two suburban restaurants during the first quarter in Aurora, Ill. and Plano, Texas. The company currently has two suburban restaurants under construction in Arlington, Texas and Stafford, Texas. These two units are expected to open in either late December 1993 or early January 1994. The company plans to open up to nine suburban units during the current fiscal year. The company also opened its second domestic franchise store in Wichita, Kan. during the first quarter. The restaurants, which operate under the name "The Spaghetti Warehouse," feature value-priced, classic Italian food in a casual, "All American" atmosphere.
 SPAGHETTI WAREHOUSE, INC. AND SUBSIDIARIES
 Consolidated Statements of Earnings
 (Unaudited)
 Thirteen
 Week Periods Ended
 10/03/93 10/04/92
 Revenues:
 Restaurant Sales $19,199,844 $16,517,033
 Franchise 161,989 39,927
 Other 148,349 117,610
 Total Revenues 19,510,182 16,674,570
 Operating costs and expenses:
 Cost of sales 4,816,011 4,088,388
 Operating expenses 10,587,823 8,632,326
 General and admini-
 strative expenses 1,148,604 988,277
 Depreciation and
 amortization 1,406,258 1,097,421
 Operating costs and expenses 17,958,696 14,806,412
 Income from operations 1,551,486 1,868,158
 Interest income (expense):
 Interest income 11,353 58,081
 Interest expense (138,299) --
 (126,946) 58,081
 Income before income taxes 1,424,540 1,926,239
 Income tax expense:
 Current 364,750 508,674
 Deferred 127,953 8,833
 492,703 517,507
 Net Income $ 931,837 $ 1,408,732
 Net income per common share:
 Primary $.15 $.22
 Fully diluted $.15 $.22
 Weighted average common and common share
 equivalents outstanding:
 Primary 6,353,006 6,481,075
 Fully diluted 6,353,545 6,490,958
 -0- 11/1/93
 /CONTACT: H.G. Carrington Jr., senior vice president, finance of Spaghetti Warehouse, Inc., 214-226-6000/
 (SWH)


CO: Spaghetti Warehouse, Inc. ST: Texas IN: LEI SU: ERN

PS -- NY024 -- 9044 11/01/93 10:14 EST
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Publication:PR Newswire
Date:Nov 1, 1993
Words:449
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