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NET INCOME UP 47 PERCENT FOR FOURTH QUARTER NET INCOME PER SHARE -- $.22 FOR FOURTH QUARTER

 LOUISVILLE, Ky., Jan. 28 /PRNewswire/ -- Rally's Inc. (NASDAQ: RLLY), America's largest double drive thru hamburger chain reported record results for the fourth quarter and year ended Jan. 3, 1993. Net income of $9.3 million for the year grew 53 percent compared with net income of $6.1 million a year ago. Net income for the fourth quarter grew 47 percent to $2.8 million compared with net income of $1.9 million for the same period last year.
 Net income per share of $.76 for the year increased 41 percent compared with net income per share of $.54 for the prior year. Net income per share of $.22 for the quarter increased 38 percent compared with net income per share of $.16 for the same period a year ago.
 Operating income grew 46 percent to $15.0 million for the year, compared with $10.3 million a year ago. Operating income for the quarter grew 47 percent to $4.7 million compared with $3.2 million in the same quarter last year.
 Wayne M. Albritton, president and chief operating officer said, "During the fourth quarter of 1992 we opened 19 new company-owned restaurants and acquired 16 more from our franchisees. In 1992, 81 new company-owned restaurants were opened or acquired. On Jan. 8, 1993, we acquired West Coast Restaurant Enterprises who operated seven Rally's restaurants, had one restaurant under construction and owned the exclusive rights to develop Rally's restaurants in Los Angeles. These results will provide tremendous momentum going into 1993 where we will open at least 85 new company-owned restaurants exclusive of acquisitions."
 Systemwide sales for the year grew 34 percent to $296.5 million compared with $221.1 million a year ago. Systemwide sales for the current quarter were 28 percent higher at $78.6 million compared with $61.4 million a year ago. Same store sales for all Rally's restaurants grew 5 percent in 1992.
 At Jan. 28, 1993 there were 450 restaurants operating in 25 states.
 RALLY'S INC.
 Consolidated Statements of Income
 (Dollars in thousands, except per share information)
 For the Quarter Ended For the Year Ended
 Jan. 3, Dec. 29, Jan. 3, Dec. 29,
 1993 1991 1993 1991
 Systemwide sales $78,621 $61,411 $296,543 $221,100
 Total revenues $34,005 $24,904 $120,648 $94,131
 Total costs and
 expenses 29,344 21,688 105,591 83,842
 Income from
 operations 4,661 3,216 15,057 10,289
 Total other income
 (expense) (477) (201) (797) (468)
 Income before income
 taxes 4,184 3,015 14,260 9,821
 Provision for income
 taxes 1,384 1,143 4,981 3,750
 Net income $2,800 $1,872 $9,279 $6,071
 Weighted average
 shares
 outstanding(a) 13,006 11,380 12,264 11,146
 Earnings per share(a) .22 .16 .76 .54
 (a) The company declared a 3-for-2 stock split which was paid on Sept. 10, 1992, in the form of a 50 percent stock dividend to holders of record at Aug. 28, 1992. The effects of this stock split have been reflected for all periods presented.
 -0- 1/28/93
 /CONTACT: Wayne M. Albritton, president and COO, 800-872-5597, or Donald C. Moore, senior VP and CFO of Rally's, 212-715-9100, ext. 451, or 800-872-5597 or 502-245-8900/
 (RLLY)


CO: Rally's Inc. ST: Kentucky IN: REA LEI SU: ERN

EH-TM -- LA027 -- 0318 01/28/93 13:41 EST
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Date:Jan 28, 1993
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