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COOKER RESTAURANT CORPORATION ANNOUNCES 61.3 PERCENT INCREASE IN EARNINGS

 COOKER RESTAURANT CORPORATION ANNOUNCES 61.3 PERCENT
 INCREASE IN EARNINGS
 COLUMBUS, Ohio, April 13 /PRNewswire/ -- The Cooker Restaurant Corporation (NASDAQ: COKR) today announced its 16th consecutive quarter of record earnings. For the quarter ended March 29, earnings were $837,000 compared with $519,000 in 1991, an increase of 61.3 percent. Earnings per share were $.11, up 57.1 percent from earnings per share of $.07 in 1991's first quarter. Sales for the quarter rose 29.1 percent to $12,186,000 from $9,439,000 a year earlier. Sales for the quarter in restaurants open at least one year increased 5.2 percent over 1991 without increased menu pricing.
 "We have continued to improve the financial performance of our existing restaurants. In addition, our three restaurants opened in 1991's fourth quarter have been very successful," stated G. Arthur Seelbinder, president and chief executive officer. "These achievements resulted in a record pre-tax margin of 11.2 percent and a record after-tax margin of 6.9 percent.
 "Restaurants are presently under construction in Auburn Hills, Mich. and West Melbourne, Fla. It is our intention to open at least four restaurants in 1992," stated Seelbinder. "In addition, we recently introduced a new, upscaled menu which includes three new pasta dishes."
 FINANCIAL HIGHLIGHTS
 Three Months Ended March 29, 1992
 Percent
 1992 1991 Increase
 Sales $12,186,000 $9,439,000 29.1
 Net Earnings $ 837,000 $ 519,000 61.3
 E.P.S. 0.11 0.07 57.1
 Weighted Average Shares
 Outstanding 7,778,000 7,226,231 7.6
 Cooker owns and operates 15 full service restaurants in Tennessee, Indiana, Ohio, Michigan and Kentucky. The company's common shares are traded on the NASDAQ-National Market System under the symbol "COKR."
 For more information and/or to arrange interviews, contact Greg Carlisle or Audrey Stewart at Media Strategy, Inc., 312-944-7398.
 -0- 4/13/92
 /CONTACT: Greg Carlisle or Audrey Stewart of Media Strategy, Inc., 312-944-7398 for Cooker Restaurant/
 (COKR) CO: Cooker Restaurant Corporation ST: Ohio IN: LEI SU: ERN


DA -- CL005 -- 7683 04/13/92 11:01 EDT
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Publication:PR Newswire
Date:Apr 13, 1992
Words:346
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