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Non-Tech : EINSTEIN/NOAH BAGEL (ENBX)
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To: NCGB who wrote (105)12/10/1997 5:11:00 PM
From: sandman  Read Replies (1) of 148
 
ENBX got hammered today on low volume.

For this qtr. they are expected to do 0.12c and 0.56/1997
and -0.24/1998.

In the short term, ENBX can only get a lift if they
come up with blowout numbers for this qtr. (0.15 - 0.20)
which may not be possible since, ENBX store sales has
slowed down (546 on Oct. 29 and 600 expected by
end of 1997).

I have given up hope for this year but will continue to
hold for another year.

Einstein (NASDAQ:ENBX) sees FY98 loss after conversion

Reuters, Monday, December 08, 1997 at 17:25

GOLDEN, Colo., Dec 8 (Reuters) - Einstein/Noah Bagel Corp
said Monday it completed the conversion of loans made to area
developers and expects to take a 1998 loss as a result of the
conversion.
The bagel cafes and bakeries company said in a release that
it turned the conversion of loans into a 77 percent equity
ownership in its retail bagel stores.
ENBC has also completed its new $70 million credit facility
with Bank of America National Trust and Savings Association,
LaSalle National Bank and General Electric Capital Corp.
The new financing and Einstein/Noah's cash from operations
are expected to finance new store development of between
150-200 ENBC stores annually.
The company said it expected to take the 1998 loss as a
result of goodwill amortization and depreciation connected with
the loans conversion transaction.
The First Call analysts' consensus earnings estimate for
Einstein/Noah's 1998 year is a loss of $0.24 cents per share.
The First Call estimate for the company's earnings for the 1997
year ending December is $0.56 per share. The company posted
earnings per share of $0.25 for its 1996 year.

Copyright 1997, Reuters News Service
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