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COOKER RESTAURANT CORPORATION ANNOUNCES RECORD EARNINGS

 COLUMBUS, Ohio, April 15 /PRNewswire/ -- The Cooker Restaurant Corporation (NASDAQ: COKR) today announced its 20th consecutive quarter of record earnings. Net earnings for its first quarter of 1993 ended April 4 increased 18.0 percent to $988,000, up from $837,000 in 1992. Earnings per share increased 16.7 percent to $.13 from $.11 in 1992. Sales for the 12 months rose 28.1 percent to $15,612,000 from $12,186,000 in 1992.
 While revenues and earnings increased, operating results were impaired by severe snowstorms that affected most of Cooker's restaurants. As a result, sales in restaurants open more than one year decreased by 3.0 percent. "Since mid-March same store sales have been positive and we feel that we are entering the second quarter with a good deal of momentum," stated G. Arthur Seelbinder, president and chief executive officer.
 During the first quarter Cooker opened its second restaurant in Indianapolis. Two restaurants will be opening in the second quarter, located in Florence, Ky., and Springdale, Ohio, a Cincinnati suburb. A total of eight to 10 restaurants are planned for opening during 1993.
 Cooker also announced that it is changing its method for amortizing pre-opening expenses. All restaurants opened in 1993 and thereafter will be expensed over 12 months, rather than over a 36-month period as has been used in past years. It is expected that the change will not affect 1993's earnings by more than $.02 per share.
 FINANCIAL HIGHLIGHTS
 Three Months Ended April 4, 1993
 1993 1992 Increase
 Sales $15,612,000 $12,186,000 28.1 percent
 Net Earnings 988,000 837,000 18.0 percent
 Earnings Per Share 0.13 0.11 16.7 percent
 Weighted Average Shares
 Outstanding 7,869,000 7,778,000 1.2 percent
 Cooker owns and operates 21 full-service restaurants in Tennessee, Indiana, Ohio, Michigan, Kentucky and Florida. The company's common shares are traded on the NASDAQ-National Market System under the symbol "COKR."
 -0- 4/15/93
 /CONTACT: William Z. Esch, vice president and chief financial officer of The Cooker Restaurant Corporation, 614-457-8500/
 (COKR)


CO: The Cooker Restaurant Corporation ST: Ohio IN: FOD SU: ERN

AR -- CL009 -- 6044 04/15/93 09:13 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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