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Chart House third-quarter earnings.

SOLANA BEACH, Calif.--(BUSINESS WIRE)--Oct. 20, 1995--Chart House Enterprises Inc. (NYSE:CHT) announced net income for the third quarter ended Sept. 30, 1995, of $1.74 million, or 21 cents per share, compared with $1.67 million, or 20 cents per share, for the third quarter of 1994.

Third-quarter revenues were $47.3 million in 1995 up from $46.3 million for the third quarter of 1994.

Net income for the nine months ended Sept. 30, 1995, was $4.2 million, or 50 cents per share, on revenues of $136.7 million. Net income for the same period last year was $3.8 million, or 46 cents per share, on revenues of $131.7 million.

The company opened two Islands restaurants during the third quarter in Chino and Palm Desert, Calif., and in September closed its Quahogs restaurant in Warwick, R.I., pending a review of alternative uses for the restaurant property.

The St. Croix and St. Thomas Chart House restaurants in the U.S. Virgin Islands have suspended operations for an indefinite period as a result of storm damage from Hurricane Marilyn. The company carries property damage and business interruption insurance, which should adequately cover the financial loss resulting from the hurricane.

Clucker's Wood Roasted Chicken Inc. elected to extend the closing date for its purchase of Paradise Bakery Inc. from the company and the transaction now is expected to close in early November.

Chart House Enterprises operates 87 restaurants, including 65 Chart Houses, 14 Islands, seven Paradise Bakeries and one Peohe's. The company's franchisees operate an additional 44 Paradise Bakeries.

The company has exclusive rights to develop and operate Islands restaurants under a license granted by the owner of the Islands concept and manages 15 Islands restaurants owned by the licensor. -0-

 CHART HOUSE ENTERPRISES INC.
 SUMMARY RESULTS OF OPERATIONS
 (In thousands, except per-share data)


 Third Quarter Ended
 Sept. 30,
 1995 1994


Revenues $47,332 $46,277
Restaurant expenses 40,014 38,572


Income from restaurant operations $ 7,318 $ 7,705
Selling, general and administrative expenses 3,597 4,079
Interest expense 1,194 1,109


Income before income taxes $ 2,527 $ 2,517
Provision for income taxes 784 847


Net income $ 1,743 $ 1,670


Net income per common share 21 cents 20 cents


Weighted average shares outstanding 8,276 8,290




 Nine Months Ended
 Sept. 30,
 1995 1994


Revenues $136,667 $131,656
Restaurant expenses 115,573 110,693


Income from restaurant operations $ 21,094 $ 20,963
Selling, general and administrative expenses 11,425 11,860
Interest expense 3,618 3,279


Income before income taxes $ 6,051 $ 5,824
Provision for income taxes 1,879 2,039


Net income $ 4,172 $ 3,785


Net income per common share 50 cents 46 cents


Weighted average shares outstanding 8,276 8,289


CONTACT: Chart House Enterprises Inc., Solana Beach

Harold E. Gaubert Jr., 619/755-8281

or

Booke and Co., New York

Stephen B. Booke, 212/490-9095
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Publication:Business Wire
Date:Oct 20, 1995
Words:490
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