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COOKER RESTAURANT CORPORATION ANNOUNCES 65.1 PERCENT INCREASE IN QUARTERLY EARNINGS PER SHARE AND INCREASES DIVIDEND 17 PERCENT

 COOKER RESTAURANT CORPORATION ANNOUNCES 65.1 PERCENT INCREASE
 IN QUARTERLY EARNINGS PER SHARE AND INCREASES DIVIDEND 17 PERCENT
 COLUMBUS, Ohio, Jan. 23 /PRNewswire/ -- Cooker Restaurant Corporation (NASDAQ: COKR) today announced its 15th consecutive quarter of record earnings. For the quarter ended Dec. 29, earnings per share were $.23 compared with $.14 in 1990, an increase of 65.1 percent. Net earnings were $780,000, up 55.1 percent from earnings of $503,000 in 1990's fourth quarter. Sales for the quarter rose 20.4 percent to $10,610,000 from $8,809,000 a year earlier. Sales for the quarter in restaurants open at least one year increased 3.4 percent over 1990 without increased menu pricing.
 For 12 months, earnings per share increased 40.1 percent to $.76 from $.54 in 1990. Net earnings increased 33.1 percent to $2,615,000, up from $1,964,000 in 1990. Sales for the 12 months rose 17.0 percent to $39,516,000 from $33,768,000 in 1990. Sales in restaurants open at least one year increased 1.5 percent over 1990.
 During the quarter, Cooker opened three new restaurants within a six-week period. Each has achieved or exceeded sales expectations and all have been profitable since opening. G. Arthur Seelbinder, chief executive officer, stated, "These outstanding results were a direct result of the total commitment to excellence of our 1,600 crew members and managers."
 Cooker also announced it will pay an annual dividend of $.07 per share, a 17 percent increase over its dividend of $.06 per share in March of 1991. The dividend will be paid to all holders of record of its common shares as of Feb. 3, 1992 and will be paid on Feb. 14, 1992.
 FINANCIAL HIGHLIGHTS
 Three Months Ended Dec. 29, 1991
 1991 1990 Percent Increase
 Sales $10,610,000 $8,809,000 20.4
 Net Earnings $780,000 $503,000 55.1
 E.P.S. 0.23 0.14 65.1
 Weighted Average
 Shares
 Outstanding 3,403,000 3,622,667 (6.1)
 Twelve Months Ended Dec. 29, 1991
 1991 1990 Percent Increase
 Sales $39,516,000 $33,768,000 17.0
 Net Earnings $2,615,000 $1,964,000 33.1
 E.P.S. 0.76 0.54 40.1
 Weighted Average
 Shares
 Outstanding 3,461,000 3,641,000 (4.9)
 Cooker owns and operates 15 full service restaurants in Tennessee, Indiana, Ohio, Michigan and Kentucky. Four restaurant openings are planned for 1992. The company's common shares are traded on the NASDAQ National Market System under the symbol "COKR."
 -0- 1/23/92
 /CONTACT: William Z. Esch, vice president and chief financial officer of Cooker Restaurant Corporation, 614-457-8500/
 (COKR) CO: Cooker Restaurant Corporation ST: Ohio IN: REA SU: ERN


DA -- CL004 -- 2660 01/23/92 09:41 EST
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Publication:PR Newswire
Date:Jan 23, 1992
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