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CHECKERS ANNOUNCES RECORD QUARTERLY REVENUES

 CLEARWATER, Fla., April 13 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that first quarter 1993 revenues increased 104 percent to $33.6 million from $16.5 million for the same quarter last year, and earnings increased 60 percent to $3.2 million from $2.0 million. First quarter earnings per share rose 57 percent to $.11 per share from $.07 per share in the 1992 comparable quarter.
 System-wide sales, which reflect sales of all company and franchised restaurants, rose 83 percent to $59.5 million in the first quarter 1993, up from $32.5 million in the first quarter 1992.
 Per share results for the first quarter 1993 and 1992 are based on 30.2 million and 27.2 million weighted average shares outstanding, respectively. The company completed its initial public offering of 5.7 million shares in November 1991 and a secondary offering of 3.0 million shares in May 1992 (all shares adjusted for the three-for-two stock split in February 1992 and the two-for-one stock split in September 1992).
 James E. Mattel, president and chief executive officer, said: "We're pleased to begin another year with outstanding results. In spite of inclement weather in February and March, we have achieved our net earnings goal through sound management of a difficult situation. We look forward to continuing our substantial growth through the balance of 1993."
 The company develops, produces, owns, operates and franchises quick- service "double drive-thru" restaurants under the name "Checkers." As of March 31, 1993 there were 115 Company operated restaurants and 141 franchised restaurants, for a total of 256 restaurants, an 85 percent increase over the same quarter in 1992.
 Checkers Drive-In Restaurants, Inc.
 Financial Results
 (000s omitted, except per share amounts)
 Three Months Ended
 March 31,
 1993 1992
 Restaurant Sales $26,087 $12,407
 Total Revenues 33,638 16,529
 Net Income 3,191 1,983
 Share Earnings .11 .07
 Average Shares 30,187 27,164
 -0- 4/13/93
 /CONTACT: Herbert G. Brown of Checkers Drive-In Restaurants, 813-441-3500/
 (CHKR)


CO: Checkers Drive-In Restaurants, Inc. ST: Florida IN: LEI SU: ERN

CM -- FL006 -- 5082 04/13/93 09:09 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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