Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, August 5, 1993                   TAG: 9308050071
SECTION: BUSINESS                    PAGE: B7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

REPORTED EARNINGS

Buffets Inc., Eden Prairie, Minn., restaurant company operating Old Country Buffet in Roanoke County, has reported the most profitable second quarter in its history. Net earnings rose 29 percent, to $5.14 million from $3.98 million in the 1992 period. Earnings per share increased 31 percent, to 17 cents per share on 30.2 million shares, from 13 cents per share on 29.7 million shares. Restaurant sales increased 35 percent, to $77.7 million from $57.7 million.

For the first six months, net earnings rose 24 percent, to $9.7 million from $7.8 million in the 1992 period. Earnings per share increased 23 percent, to 32 cents from 26 cents. Restaurant sales increased 29 percent, to $166.1 million from $128.6 million.

So far in 1993, the company has opened 21 restaurants and expects to open an additional 19 in the rest of the year.

\ Winn-Dixie Stores

Winn-Dixie Stores Inc., a Jacksonville, Fla., grocer operating supermarkets in Western Virginia, has reported record sales of $10.8 billion and earnings of $236.4 million for its fiscal year ended June 30. Net earnings increased 9.2 percent from $216.4 million in fiscal 1992. Earnings per share were up 10.3 percent, to $3.11 from $2.82. Sales for the year were $10.8 billion, up 4.8 percent from $10.3 billion in fiscal 1992. Store-average sales were up 5.3 percent; identical-store sales increased 2.8 percent. It was the 59th consecutive year of sales increases.

Fourth-quarter net earnings were $82.8 million, or $1.10 per share, against $82.0 million, or $1.07 per share, for the 1992 quarter. Sales were $2.7 billion, up 11.6 percent or $279.4 million from the 1992 quarter. Store-average sales were up 6.1 percent; identical-store sales increased 3.1 percent.

Winn-Dixie paid monthly cash dividends of 11 cents per share, totaling $1.32 per share during the year. In July, monthly cash dividends were increased 9.1 percent to 12 cents per share, an annual rate of $1.44 per share, marking the company's 50th consecutive year of cash dividend increases, a New York Stock Exchange record.

During the year, the company opened 40 new stores and closed 78. An additional 73 stores were enlarged or remodeled.

\ Westmoreland Coal

Westmoreland Coal Co., Philadelphia-based producer and marketer of coal with operations in Western Virginia, reported a second-quarter loss of $1.1 million, or 16 cents per share, compared with a loss of $2.7 million, or 33 cents per share, in the 1992 quarter. Revenues were $110.7 million, down 15 percent from $130.2 million.

In the first half, Westmoreland lost $5.1 million, or 73 cents per share, compared with a loss of $2.5 million, or 31 cents per share in the 1992 period. Revenues were $225.9 million, off 20 percent from $283.6 million.