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THE BANKER'S NOTE REPORTS RESULTS

 SMYRNA, Ga., Dec. 9 /PRNewswire/ -- The Banker's Note, Inc. (NASDAQ: BKNT), a chain of women's career and specialty apparel stores, today announced earnings before an extraordinary item of $285,000 or $.08 per common share and common equivalent shares of 3,698,620, or $.07 per common share and common equivalent shares of 3,867,004 assuming full dilution for the nine months ended Oct. 30.
 This compares with $264,000 or $.07 per common share and common equivalent shares of 3,326,550 for the first nine months of the prior year.
 The extraordinary item was a gain on the confirmation of the company's reorganization plan of $1,386,000. The plan was confirmed by a vote of the company's unsecured creditors and shareholders and was approved by the court on May 6, and the company's Chapter 11 case filed on Aug. 7, 1991, was closed on Nov. 4. In the prior year, the company had recorded a $117,000 gain on debt restructuring.
 Net earnings for the nine months were $1,671,000 or $.45 per common share and common equivalent shares of 3,698,620, or $.43 per common share and common equivalent shares of 3,867,004 assuming full dilution compared with earnings of $381,000 or $.11 per common share and common equivalent shares of 3,326,550 for the prior year.
 For the third quarter, earnings before extraordinary items were $34,000 or $.01 per common share and common equivalent shares of 3,628,028 compared with earnings of $67,000 or $.02 per common share and common equivalent shares of 3,326,550 for the prior year's third quarter. Net earnings for the third quarter were $1,420,000 or $.39 per common share and common equivalent shares of 3,628,028 compared with $67,000 or $.02 per common share and common equivalent shares of 3,326,550 for the same period last year.
 Same store sales increased 6 percent for the third quarter and 9 percent for the nine months.
 THE BANKER'S NOTE, INC.
 Financial Summary
 Third Quarter Nine Months
 1993 1992 1993 1992
 Sales $4,830,000 $4,733,000 $14,790,000 $14,324,000
 Earnings before
 extraord. items $ 34,000 $ 67,000 $ 285,000 $ 264,000
 Extraordinary items:
 Gain on debt
 restructuring --- --- --- 117,000
 Gain on plan
 confirmation 1,386,000 --- 1,386,000 ---
 Net earnings: $1,420,000 $ 67,000 $ 1,671,000 $ 381,000
 Stores open at end
 of period 34 37 34 37
 Earnings Per Common Share
 And Common Equivalent Share
 Third Quarter Nine Months
 1993 1992 1993 1992
 Net earnings per share
 before extraord. items
 - primary $.01 $.02 $.08 $.07
 - fully diluted $.01 $.02 $.07 $.07
 Extraordinary items:
 Gain on debt restructuring
 - primary $.00 $.00 $.00 $.04
 - fully diluted $.00 $.00 $.00 $.04
 Gain on plan confirmation
 - primary $.38 $.00 $.37 $.00
 - fully diluted $.38 $.00 $.36 $.00
 Net earnings per share
 - primary $.39 $.02 $.45 $.11
 - fully diluted $.39 $.02 $.43 $.11
 Weighted average number
 of shares outstanding
 - primary 3,628,028 3,326,550 3,698,620 3,326,550
 - fully diluted 3,647,080 3,326,550 3,867,004 3,326,550
 -0- 12/9/93
 /CONTACT: Harold D. Cannon, senior vice president, The Banker's Note, 404-432-0636/
 (BKNT)


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

BR-BN -- AT007 -- 2159 12/09/93 11:07 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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