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THE BANKER'S NOTE REPORTS RESULTS

 SMYRNA, Ga., Nov. 25 ~PRNewswire~ -- The Banker's Note, Inc. (OTC: BKNTQ), a chain of women's career specialty apparel stores operating under Chapter 11 of the United States Bankruptcy Code, today announced operating income before taxes and non-recurring charges of $134,000 for the third quarter ended Oct. 31.
 This compares to an operating loss of $(343,000) for the same period last year.
 Net income was $67,000 after tax and non-recurring charges or $.02 per share compared to net loss of $(1,111,000) or $(.33) per share for the prior year's third quarter.
 For the nine months, operating income before tax and non-recurring charges was $371,000 compared to a loss of $(953,000) for the same period last year.
 Net income for the nine months was $381,000 or $.11 per share compared to a net loss of $(3,420,000) or $(1.01) per share last year.
 Management attributed the continued improved results to enhanced gross margin on merchandise and maintained control over operating expenses. The company filed Chapter 11 in August 1991, and anticipates that its Plan of Reorganization will be filed by mid-December in order to emerge from Chapter 11.
 FINANCIAL SUMMARY
 1992 1991
 3rd qtr. 9 mos. 3rd qtr. 9 mos.
 Sales $4,733,000 $14,324,000 $5,438,000 $20,075,000
 Income (loss) before
 tax & non-recurring
 charges 134,000 371,000 (343,000) (953,000)
 Net income (loss) 67,000 381,000 (1,111,000) (3,420,000)
 Earnings (loss) per
 share $.02 $.11 $(.33) $(1.01)
 Average shares
 outstanding 3,326,550 3,326,550 3,416,341 3,394,591
 Stores open at
 end of period 36 36 41 41
 -0- 11~25~92
 ~CONTACT: Harold D. Cannon, senior vice president of The Banker's Note, 404-432-0636~
 (BKNTQ)


CO: The Banker's Note, Inc. ST: Georgia IN: REA SU: ERN

BN-EA -- AT004 -- 1507 11~25~92 12:25 EST
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Publication:PR Newswire
Date:Nov 25, 1992
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