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THE KRYSTAL COMPANY REPORTS INCREASES IN SALES, NET INCOME

 THE KRYSTAL COMPANY REPORTS INCREASES IN SALES, NET INCOME
 CHATTANOOGA, Tenn., Oct. 14 /PRNewswire/ -- The Krystal Company (NASDAQ-NMS: KRYS), an operator and franchisor of quick-service restaurants which completed an initial public offering on May 14, today reported net income for the quarter ended Sept. 27 of $1,966,000, or 27 cents per share.
 Net income and net income per share were up 188 percent and 108 percent, respectively, vs. the same period last year. The prior year's comparable third quarter net income was $683,000, or 13 cents per share. Net income for the nine months ended Sept. 27 was $4,123,000, or 66 cents per share, compared to $1,691,000 for the first nine months of last year, or 33 cents per share. Net income was up 144 percent for the first three quarters of the year and 100 percent on a per share basis.
 Total revenues for the third quarter were $58.4 million, up 8.8 percent from the previous year's third quarter. Total revenues for the nine months ended Sept. 27 were $167.8 million, up 8.5 percent from the previous year's first nine months. Restaurant sales for the third quarter increased 8.4 percent, to $56.9 million. Restaurant sales for the first nine months increased 8.2 percent over the same period in the previous year to $163.5 million.
 Company-owned average same restaurant sales for the third quarter of 1992 were up 9.0 percent vs. the same period in 1991. For the first nine months of 1992, the average same restaurant sales were up 8.7 percent vs. the same period last year. The company had 230 restaurants open at the end of the third quarter of 1992 compared to 231 at the end of the third quarter 1991. Eleven drive-through-only Krystal Kwik restaurants are included in the same restaurants open each year.
 Third quarter revenues included franchise fees and royalties of $327,000 compared with $146,000 in the third quarter of 1991. Franchise fees and royalties year to date through the third quarter were $817,000, compared with $275,000 through the same period in 1991. Krystal began franchising in late 1990 and had 25 franchised restaurants in operation at the end of its third quarter of 1992. Sales by franchisees were $4.4 million for the quarter, up 316 percent over the same period in 1991. Year-to-date sales by franchisees were $11.7 million, up 374 percent over the same period in 1991.
 Krystal Chairman and Chief Executive Officer Carl Long cited continued strong sales and improved operating efficiencies for the company's earnings results.
 The Krystal Company operates 230 restaurants in Arkansas, Alabama, Florida, Georgia, Kentucky, Mississippi, South Carolina and Tennessee. Krystal franchisees currently operate 26 restaurants located in Alabama, Georgia, Mississippi, South Carolina and Tennessee. One additional franchised restaurant has been opened since the end of the third quarter.
 Founded in 1932 and celebrating its 60th anniversary this year, Krystal is the second-oldest fast-food chain in the nation. The Krystal Company's common stock is traded on the NASDAQ National Market System under the symbol KRYS.
 THE KRYSTAL COMPANY
 Quarter ended Sept. 27 1992 1991
 Revenues $ 58,350,000 $ 53,638,000
 Net income $ 1,966,000 $ 683,000
 Average shares 7,414,408 5,174,408
 Share earns:
 Net income $ .27 $ .13
 Nine months 1992 1991
 Revenues $167,830,000 $154,637,000
 Net income $ 4,123,000 $ 1,691,000
 Average shares 6,239,653 5,162,012
 Share earns:
 Net income $ .66 $ .33
 -0- 10/14/92
 /CONTACT: Cam Scearce of The Krystal Company, 615-757-1510, or Claudia D'Avanzo or Ellen Hartman of Fleishman-Hillard, 404-659-4446, for The Krystal Company/
 (KRYS) CO: The Krystal Company ST: Tennessee IN: LEI SU: ERN


EA-BN -- AT003 -- 9721 10/14/92 09:20 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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