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HARDEE'S POSTS DOUBLE DIGIT EARNINGS GAIN FOR FIFTH CONSECUTIVE QUARTER

 ROCKY MOUNT, N.C., Nov. 4 /PRNewswire/ -- Hardee's Food Systems, Inc. today released its financial results for the third quarter ended Sept. 30, 1993. For the fifth consecutive quarter, HFS increased its earnings by double digits.
 Third quarter operating earnings were $32.2 million versus $27.6 million for this same period last year, an increase of 17 percent. Operating earnings for the current nine months ended Sept. 30 were $66.1 million, up 59 percent over the prior year.
 Systemwide sales, which reflect sales of all company and franchise restaurants, were $1.3 billion, an increase of 3 percent over the third quarter of 1992. Systemwide sales year-to-date were $3.7 billion, reflecting a 5 percent increase over the comparable 1992 period.
 Company revenues during the quarter also were up compared to a year ago. HFS' revenues for the third quarter were $544.2 million, compared to $532.1 million last year at this time, up 2 percent. Nine month revenues were $1.5 billion, an increase of 5 percent over this same time last year.
 Robert F. Autry, Hardee's president and chief executive officer, said of the results: "Competition among the major fast-food chains was especially fierce this past summer. While we lost sales on some items to those who opted for heavy discounting, Hardee's remains committed to the strategy of offering unique, great-tasting products, such as our signature Hardee's Frisco Burger(TM) and fresh fried chicken. Operating efficiencies and lower overhead costs contributed to our strong earnings performance."
 Hardee's recently selected Deutch/Dworin, New York as its national advertising agency, replacing Ogilvy and Mather, which had the account for eight years. The agency's immediate charge is to help re-shape Hardee's marketing approach for the 90's and to build a clear image for the Hardee's brand.
 Hardee's Food Systems, Inc., headquartered in Rock Mount, N.C., operates a system of 4,000 company and franchise restaurants in 40 states and 11 foreign countries. Approximately 650 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- 11/4/93
 /CONTACT: W. Maurice Bridges, Director of Public Relations, Hardee's Food Systems, Inc., 919-977-8943/


CO: Hardee's Food Systems, Inc. ST: North Carolina IN: FOD SU: ERN

DS-DC -- DC012 -- 0523 11/04/93 08:51 EST
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Publication:PR Newswire
Date:Nov 4, 1993
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