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JB’S RESTAURANTS POSTS NET INCOME OF $124,000 FOR 1ST QUARTER

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JB's Restaurants Inc. reported net incomee of $124,000 or 3 cents per share for the fiscal first quarter ended Dec. 21, compared with a break-even quarter in the same period a year earlier.

Revenues for the first quarter were $25.5 million, down 4.2 percent from revenues of $26.6 million for the same quarter last year.The company said the decrease was primarily the result of fewer restaurants. It operated 107 JB's Restaurants at the end of the fiscal quarter compared to 135 at the end of the same period of the prior year.

The decrease in operating units is primarily the result of the sale of 23 JB's Restaurants to IHOP Corp. in the fourth quarter of fiscal 1992.