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CHECKERS DRIVE-IN RESTAURANTS ANNOUNCES RESULTS

 CLEARWATER, Fla., July 20 /PRNewswire/ -- Checkers Drive-In Restaurants, Inc. (NASDAQ: CHKR) today announced that second quarter revenues increased 90 percent to $45.6 million from $24.0 million for the same quarter last year, and earnings increased 30 percent to $3.8 million from $2.9 million. Second quarter earnings per share rose 33 percent to $.08 per share from $.06 per share in the 1992 comparable quarter.
 System-wide sales, which reflect sales of all company and franchised restaurants, rose 77 percent to $69.8 million in the second quarter 1993, up from $39.4 million in the second quarter 1992.
 Revenues for the six month period ended June 30, 1993 increased 93 percent to $84.7 million from $44.0 million and earnings increased 44 percent to $7.4 million from $5.1 million. Earnings per share increased 33 percent to $.16 per share from $.12 per share.
 Per share results for the second quarter 1993 and 1992 are based on 47.8 million and 44.5 million weighted average shares outstanding, respectively. The company completed its initial public offering of 8.6 million shares in November 1991 and a secondary offering of 4.5 million shares in May 1992 (all shares adjusted for the three-for-two stock split in February 1992, a two-for-one stock split in September 1992 and a three-for-two stock split in June 1993.)
 James E. Mattei, president and chief executive officer, said, "We are pleased with our results for the second quarter. The restaurant industry experienced sluggish sales for much of this period. Our continued focus on company operations and store growth and the commitment of our franchisees and employees again resulted in significant increases in revenue and earnings."
 The company develops, produces, owns, operates and franchises quick- service "double drive-thru" restaurants under the name "Checkers". As of June 30, 1993, there were 151 company operated restaurants and 136 franchised restaurants, for a total of 287 restaurants, an 82 percent increase over June 30, 1992.
 CHECKERS DRIVE-IN RESTAURANTS, INC.
 Financial Results
 (000s omitted, except per share amounts)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Restaurant Sales $36,439 $19,345 $68,494 $35,668
 Total Revenues 45,649 23,994 84,749 44,013
 Pro-Forma Net Income 3,757 2,890 7,380 5,134
 Pro-Forma Share
 Earnings .08 .06 .16 .12
 Average Shares 47,796 44,525 47,611 43,704
 -0- 7/20/93
 /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

RC-AW -- FL002 -- 6585 07/20/93 08:52 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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