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HARDEE'S 3RD QUARTER RESULTS REFLECT POSITIVE GAINS

 HARDEE'S 3RD QUARTER RESULTS REFLECT POSITIVE GAINS
 ROCKY MOUNT, N.C., Nov. 9 /PRNewswire/ -- Hardee's Foods Systems,


Inc. today released its financial results for the third quarter ended Sept. 30, 1992. The world's fourth largest fast food restaurant company posted impressive gains in systemwide sales and operating earnings for the quarter as well as for the first nine months of the year.
 Systemwide sales for the quarter were $1.3 billion, an increase of 8 percent over the prior year. Nine month systemwide sales increased to $3.5 billion, reflecting a 7 percent increase over the comparable 1991 period. Company revenues during the quarter increased 11 percent to $532 million. Year to date revenues were $1.5 billion, an increase of 5 percent.
 Third quarter operating earnings were $27.6 million, up 52 percent over the $18.2 million recorded for this period in 1991. Operating earnings for the current nine months ended Sept. 30 were $41.5 million, up 16 percent over prior year, with the strong third quarter performance resulting in improved earnings for the year-to-date.
 Hardee's President and Chief Executive Officer, Robert F. Autry, expressed conviction that the company's positive momentum would be maintained. "Our third quarter performance is largely the result of a renewed focus on the customer. In spite of a sluggish economy, same store sales have increased dramatically, outpacing the competition. The company is enjoying the highest cash flow in its history and average unit volumes are setting new records each month. We believe that the positive advances in the third quarter are sustainable and that Hardee's is well-positioned to realize continued growth and increased sales."
 Autry, who was appointed Hardee's CEO in July of 1991, cited a number of significant factors contributing to this turnaround. "Over the past year, Hardee's has channeled resources into improved quality and service, thereby increasing customer satisfaction." The company has successfully re-launched the Roy Rogers trademark in the Northeast, with the Baltimore and Washington markets already reporting good sales gains.
 Continued systemwide expansion of Fried Chicken has positioned Hardee's as the country's second largest brand in the chicken category. The company has successfully introduced several new products, including the Hardee's Frisco Burger (TM) and Hardee's Frisco Breakfast Sandwich (TM), new thicker French Fries, and Real Fruit Shakes.
 Customers are responding well to Hardee's advertising campaign, which highlights the "real food" and "made from scratch" qualities of the menu offerings. Positive franchisee relations appear to be at an all time high, with a number of franchisees reporting record earnings.
 Hardee's Food Systems, Inc., headquartered in Rocky Mount, N.C., operates a system of 4,000 company and franchise restaurants in 40 states and 10 foreign countries. Approximately 675 of the restaurants operate under the Roy Rogers trademark. Hardee's has expanded its hamburger and sandwich menu with fresh fried chicken, becoming the second largest chicken chain in the world.
 -0- 11/9/92
 /CONTACT: W. Maurice Bridges, Director, Public Affairs, Hardee's Food Systems, Inc. 919-977-8943/ CO: Hardee's Food Systems ST: North Carolina IN: REA SU: ERN


MM -- CH002 -- 8578 11/09/92 09:56 EST
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Publication:PR Newswire
Date:Nov 9, 1992
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