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THE BANKER'S NOTE REPORTS RESULTS

 SMYRNA, Ga., Sept. 2 /PRNewswire/ -- The Banker's Note, Inc. (OTC: BKNTQ), a chain of women's career specialty apparel stores, today announced earnings before extraordinary items of $162,000 or $.05 per share for the six months ended July 31.
 This compares with $86,000 and $.03 per share for the prior year period which excludes extraordinary items.
 Extraordinary items were a gain on debt restructuring of $117,000 reported in the company's prior year second quarter and a reduction of income taxes arising from the carryforward of prior years' operating losses.
 Net earnings for the six months were $251,000 or $.08 per share compared with net earnings of $314,000 or $.09 per share last year.
 For the second quarter, earnings before extraordinary items were $17,000 or $.01 per share compared with a loss of ($117,000) or ($.04) per share for the year's prior second quarter. Net earnings for the second quarter were $17,000 or $.01 per share compared with $88,000 or $.03 per share for the same period last year.
 Same store sales revenues increased 10 percent for the six months and 9 percent for the second quarter.
 Management believes that improved operating results will continue as stringent controls are maintained over inventory and operating expenses.
 FINANCIAL SUMMARY
 Second quarter ended 1993 1992
 Sales $4,819,000 $4,632,000
 Earnings (loss) before
 extraordinary items $ 17,000 $ (117,000)
 Extraordinary items:
 Gain on debt reduction --- 117,000
 Net operating loss
 carryforward --- 88,000
 Net earnings $ 17,000 $ 88,000
 Stores open at end of period 34 37
 Six months ended 1993 1992
 Sales $9,960,000 $9,591,000
 Earnings (loss) before
 extraordinary items $ 162,000 $ 86,000
 Extraordinary items:
 Gain on debt reduction --- 117,000
 Net operating loss
 carryforward 89,000 111,000
 Net earnings $ 251,000 $ 314,000
 Stores open at end of period 34 37
 EARNINGS PER SHARE
 Second quarter ended 1993 1992
 Net earnings (loss) per share
 before extraordinary items $ .01 $ (.04)
 Extraordinary items:
 Gain on debt restructuring --- $ .04
 Reduction of income taxes
 arising from carryforward
 of prior years' operating
 losses --- $ .03
 Net earnings (loss) per share $ .01 $ .03
 Weighted average number of
 shares outstanding 3,352,156 3,326,550
 Six months ended 1993 1992
 Net earnings (loss) per share
 before extraordinary items $ .05 $ .03
 Extraordinary items:
 Gain on debt restructuring --- $ .04
 Reduction of income taxes
 arising from carryforward
 of prior years' operating
 losses $ .03 $ .03
 Net earnings (loss) per share $ .08 $ .09
 Weighted average number of
 shares outstanding 3,367,715 3,326,550
 -0- 9/2/93
 /CONTACT: Harold D. Cannon, senior vice president of The Banker's Note, 404-432-0636/
 (BKNT)


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

RA-BR -- AT015 -- 8612 09/02/93 17:30 EDT
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Publication:PR Newswire
Date:Sep 2, 1993
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