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SUNRISE PRESCHOOLS, INC. ANNOUNCES THIRD QUARTER RESULTS

SCOTTSDALE, Ariz., June 13 /PRNewswire/ -- Scottsdale based Sunrise Preschools (Nasdaq: SUNR, SUNRP) reported net income of $107,199 before the preferred stock dividend payment of $131,909. The preferred dividend allocation decreased net income available for common shares resulting in a loss of $24,710 or a loss of $0.01 a share. For the same period in 1995, the Company had minimal preferred stock outstanding as compared to the current year due to $5.4 million convertible preferred stock offering sold in the public market on December 22, 1995. Operating revenue for the third quarter for fiscal 1996 was $2,681,233, an increase of $150,873 or 6% from revenue of $2,530,360 for the third quarter of fiscal 1995.

James R. Evans, president of Sunrise, said, "Sunrise is presently negotiating with a number of child care operators who are potential acquisition candidates in its continuing long term strategic plan of acquiring quality profitable child care centers and opening additional new Sunrise facilities. Our Arizona centers are soon to be supported by additional centers which are under development with planned openings for fall and winter."

In addition Evans said, "Sunrise is embarking on private elementary education by the introduction of first grade classrooms in three strategic Arizona locations."

Sunrise Preschools is a premier operator of child care centers offering education-based programs primarily for children ages six weeks to twelve years. The Company currently operates 32 child care centers in Arizona, Colorado, Hawaii and Wisconsin.
 FINANCIAL HIGHLIGHTS (UNAUDITED)
 NINE MONTHS ENDED THREE MONTHS ENDED
 APRIL 30, APRIL 30,
 1996 1995 1996 1995
 OPERATING REVENUE $7,420,994 $7,392,621 $2,681,233 $2,530,360
 OPERATING EXPENSE 7,385,177 6,669,509 2,615,724 2,229,482
 INCOME FROM OPERATIONS 35,817 723,112 65,509 300,878


NON-OPERATING INCOME
 (EXPENSE) 50,455 (8,560) 41,690 (7,576)
 INCOME TAX EXPENSE -- (6,000) -- (2,500)
 NET INCOME $86,272 $708,552 $107,199 $290,802


NET INCOME (LOSS) PER

COMMON SHARE AND COMMON
 SHARE EQUIVALENT $(0.04) $0.27 $(0.01) $0.11
 -0- 6/13/96


/CONTACT: Rudy R. Miller, Chairman & President of The Miller Group, Investor Relations for Sunrise Preschools, 602-225-0505/

(SUNR)

CO: Sunrise Preschools ST: Arizona IN: SU: ERN

TT-BB -- LATH006 -- 0581 06/13/96 09:07 EDT
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Publication:PR Newswire
Date:Jun 13, 1996
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