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GROUND ROUND RESTAURANTS, INC. REPORTS YEAR END EARNINGS INCREASE

 BOSTON, Nov. 15 /PRNewswire/ -- Ground Round Restaurants, Inc. (NASDAQ: GRXR) reported increased earnings for the quarter and the fiscal year ended Oct. 3, 1993, compared with the quarter and the year ended Sept. 27, 1992. Summary results are as follows:
 4th Quarter Year End
 1993 1992 1993 1992
 Revenues: $58,176,000 $57,190,000 $232,556,000 $226,466,000
 Net Inc. $ 1,313,000 $ 1,185,000 $ 5,328,000 $ 4,646,000
 EPS 12 cents 11 cents 48 cents 42 cents
 Total revenue increased 1.7 percent for the quarter and 2.7 percent for the year with comparable restaurant sales down 1.6 percent for the quarter and 2.1 percent after adjusting for the 53 week year in fiscal 1993 compared to 52 weeks in fiscal 1992.
 "We opened a total of eight company restaurants and five franchised restaurants during 1993 currently averaging over $2 million in revenue, and we continue to see positive results from our renovation program. As we move into fiscal 1994, we are targeted to open 10-14 additional company restaurants as well as 5 franchised restaurants. We also expect to renovate an additional 30-35 restaurants during the year," added O'Donnell. The company's fourth fiscal quarter marks the completion of a year since making the strategic decision to reduce its emphasis on discount promotional advertising.
 Ground Round Restaurants, Inc. operates 165 company and franchise 44 full-service casual dining restaurants in the midwest and northeast with system-wide sales of over $300 million.
 -0- 11/15/93
 /CONTACT: Mary Conroy, investor relations of Ground Round Restaurants, 617-380-3121/
 (GRXR)


CO: Ground Round Restaurants, Inc. ST: Massachusetts IN: LEI SU: ERN

JL -- NE008 -- 4189 11/15/93 08:23 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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