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HARDEE'S 4TH QUARTER RESULTS REFLECT CONTINUED POSITIVE GAINS

 ROCKY MOUNT, N.C., Feb. 9 /PRNewswire/ -- Hardee's Food Systems, Inc., today released its financial results for the fourth quarter ended December 31, 1992. The world's fourth largest fast food restaurant company posted impressive gains in systemwide sales and operating earnings. Fourth quarter operating earnings were $21.7 million, up almost five times the $4.4 million recorded for this period in 1991. Operating earnings for the current twelve months ended December 31 were $63.1 million, up 57 percent over the prior year.
 Systemwide sales for the quarter were $1.2 billion, an increase of 13 percent over the prior year. Twelve month systemwide sales increased to $4.8 billion, reflecting a 9 percent increase over the comparable 1991 period. Company revenues during the quarter increased 13 percent to $495 million. Revenues for the year were $2.0 billion, an increase of 7 percent.
 Hardee's President and Chief Executive Officer, Robert F. Autry, is pleased that the company's positive momentum is continuing. "For the first time in the history of the company, systemwide average unit volumes are exceeding $1 million."
 The company is benefiting from a renewed focus on customer service, restored equity in the Roy Rogers trademark and the successful implementation of the three daypart concept. Hardee's has always been the industry leader with made from scratch' biscuits (breakfast). The recently introduced signature Hardee's Frisco Burger(TM) (lunch), as well as the addition of fresh fried chicken (dinner), has enabled the company to build sales throughout the day.
 Purdy Crawford, Chairman and Chief Executive officer of Imasco Limited, Hardee's parent company, commented on the results, "I view the major improvement in the results and prospects of Hardee's Food Systems as Imasco's greatest achievement in 1992."
 Autry, who was appointed CEO in July of 1991, is credited as the driving force behind Hardee's turnaround. He has been very instrumental in building franchisee relationships and has developed a seasoned, aggressive senior management team. Under Autry's leadership, Hardee's has been systematically transformed and strengthened to succeed in a more mature and competitive market.
 Consumers continue to respond favorably to the systemwide expansion of fresh fried chicken making Hardee's the country's second largest chicken restaurant chain. The company has successfully introduced many new products, of which the most popular is the signature, Hardee's Frisco Burger and Hardee's Frisco(TM) Breakfast Sandwich. The roll-out of Roys Roasters(TM) in the Roy Rogers' markets has also been successful and has led competitors to launch similar products.
 The current advertising theme for Hardee's, "Are You Ready For Some Real Food," and Roy Rogers' "One Of A Kind" theme, will continue to play an important role in highlighting the real food' attributes and made from scratch' qualities of the menu offerings.
 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- 2/9/93
 /Editor's Note: A series of bar graphs depicting Hardee's Food Systems, Inc.'s systemwide sales, revenues and operating earnings is available via facsimile by calling the contact listed below./
 /CONTACT: W. Maurice Bridges, Director, Public Affairs, Hardee's Food Systems, Inc., 919-977-8943/


CO: Hardee's Food Systems, Inc.; Imasco Limited ST: North Carolina IN: LEI SU: ERN

JM -- CH002 -- 4525 02/09/93 09:59 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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