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MORRISON REPORTS SECOND QUARTER EARNINGS

 MOBILE, Ala., Dec. 22 /PRNewswire/ -- Morrison Restaurants Inc. (NASDAQ: MORR) today reported second quarter net income of $10,357,000, an increase of 17 percent from the same period last year.
 Revenue for the second quarter increased 8 percent to $281,617,000. Earnings per share for the second quarter were 41 cents vs. 36 cents a year ago.
 For the first 26 weeks of fiscal 1993, net income was $17,335,000, or 19 percent more than last year. Revenue for the period increased 6 percent to $529,977,000. Earnings per share for the first 26 weeks were 69 cents, compared to 59 cents last year.
 As of Dec. 5, Morrison Restaurants Inc.'s Ruby Tuesday Group included 164 Ruby Tuesdays, 42 L& N Seafood Grills, and 19 Silver Spoon Cafes. The Family Dining Group closed two units, ending the quarter with 162 units, and the Hospitality Group held 849 contracts with health care facilities, schools, and industries.
 "We are pleased with our second quarter performance," said Samuel E. Beall, III, president and chief executive officer of Morrison Restaurants Inc. "We continue to focus on our customers, our people and our sales and profits. We are increasing customer value and lowering the cost of running our businesses, and the result is consistent sales and profit growth," he added.
 Morrison's Family Dining Group had positive customer counts throughout the second quarter of the fiscal year and operating profits grew 16 percent, continuing a significant year-long trend. The Hospitality Group achieved a 15 percent increase in profits and solid account growth during the quarter, and the Ruby Tuesday Group posted an 18 percent gain in operating revenue and an 18 percent increase in operating profit.
 The Morrison Restaurants Inc. board of directors declared a regular quarterly cash dividend of 12 cents per common share at their meeting on Dec. 22 in Mobile, Ala. This cash dividend is payable Jan. 29, 1993, to holders of record at the close of business on Jan. 8, 1993. The company has paid regular cash dividends since 1936.
 As previously announced, Morrison has signed a letter of intent regarding the acquisition of Uno Restaurant Corporation. Negotiations with respect to the transactions are ongoing.
 MORRISON RESTAURANTS INC.
 Supplemental Information
 Pct.
 For the quarter ending 12/5/92 11/30/91 Chg.
 Sales:
 Ruby Tuesday Group $ 90,425 $ 76,895 +18
 Morrison's Hospitality Group 118,120 108,606 + 9
 Morrison's Family Dining 73,053 74,437 - 2
 Corporate and other 28 186 ---
 Total $281,626 $260,124 + 8
 Operating profit:
 Ruby Tuesday Group $ 6,677 $ 5,648 +18
 Morrison's Hospitality Group 8,131 7,062 +15
 Morrison's Family Dining 3,634 3,120 +16
 Total 18,442 15,830 +17
 Corporate expenses (1,835) (1,657) +11
 Net interest income (expense) (129) (211) -39
 Income before income taxes 16,478 13,962 +18
 Income taxes 6,121 5,096 +20
 Net income $ 10,357 $ 8,866 +17
 Earnings per share $0.41 $0.36 +14
 Shares 25,363 24,701
 Operating Profit Margins:
 Ruby Tuesday Group 7.4 pct. 7.3 pct.
 Morrison's Hospitality Group 6.9 pct. 6.5 pct.
 Morrison's Family Dining 5.0 pct. 4.2 pct.
 Pct.
 Year-to-date ending 12/5/92 11/30/91 Chg.
 Sales:
 Ruby Tuesday Group $177,150 $151,861 +17
 Morrison's Hospitality Group 209,367 197,038 + 6
 Morrison's Family Dining 143,450 152,717 - 6
 Corporate and other 19 179 ---
 Total $529,986 $501,795 + 6
 Operating profit:
 Ruby Tuesday Group $ 14,154 $ 12,111 +17
 Morrison's Hospitality Group 10,856 9,427 +15
 Morrison's Family Dining 6,532 5,204 +26
 Total 31,542 26,742 +18
 Corporate expenses (3,837) (3,246) +18
 Net interest income (expense) (228) (551) -59
 Income before income taxes 27,477 22,945 +20
 Income taxes 10,142 8,375 +21
 Net income $ 17,335 $ 14,570 +19
 Earnings per share $0.69 $0.59 +17
 Shares 25,284 24,657
 Operating Profit Margins:
 Ruby Tuesday Group 8.0 pct. 8.0 pct.
 Morrison's Hospitality Group 5.2 pct. 4.8 pct.
 Morrison's Family Dining 4.6 pct. 3.4 pct.
 All per-share data has been adjusted to give effect for the 3-for-2 stock split paid April 30, 1992.
 MORRISON RESTAURANTS INC.
 Condensed Operating Results
 Financial results for the second quarter
 of fiscal year 1993 (unaudited)
 (Amounts in thousands expect per-share amounts)
 13 weeks ended 26 weeks ended
 12/5/92 11/30/91 12/5/92 11/30/91
 Sales $281,626 $260,124 $529,986 $501,795
 Income before inc. taxes 16,478 13,962 27,477 22,945
 Income taxes 6,121 5,096 10,142 8,375
 Net income $ 10,357 $ 8,866 $ 17,335 $ 14,570
 Earnings per common
 and common equiv.
 share $0.41 $0.36 $0.69 $0.59
 Common and common
 equivalent shares 25,363 24,701 25,284 24,657
 Earnings per share and common and common equivalent shares for the 13 and 26 weeks ended Nov. 30, 1991 have been adjusted to give effect for the 3-for-2 stock split paid on April 30, 1992.
 Condensed Balance Sheets
 12/5/92 11/30/91
 Assets
 Cash and short-term investments $ 61,409 $ 35,605
 Accounts and notes receivable 34,222 43,347
 Inventory 15,543 14,309
 All other current assets 20,483 16,898
 Total current assets 131,657 110,159
 Property, plant and equipment, net 203,200 197,356
 Costs in excess of net assets acquired 23,447 24,219
 Other assets 39,617 23,287
 Total assets $397,921 $355,021
 Liabilities
 Current liabilities $124,981 $ 90,308
 Long-term debt 13,141 36,841
 Deferred income taxes 15,669 21,325
 Other deferred liabilities 27,607 14,565
 Total liabilities 181,398 163,039
 Stockholders' equity 216,523 191,982
 Total liabilities and stockholders'
 equity $397,921 $355,021
 -0- 12/22/92
 /CONTACT: Sandy Beall, president & CEO of Morrison Restaurants, 205-344-3000/
 (MORR)


CO: Morrison Restaurants Inc. ST: Alabama IN: LEI SU: ERN DIV

CF-BR -- AT011 -- 9231 12/22/92 15:26 EST
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