Printer Friendly

PERKINS FAMILY RESTAURANTS, L.P. REPORTS RECORD FIRST QUARTER NET INCOME

 PERKINS FAMILY RESTAURANTS, L.P.
 REPORTS RECORD FIRST QUARTER NET INCOME
 MEMPHIS, Tenn., April 23 /PRNewswire/ -- Perkins Family Restaurants, L.P. (NYSE: PFR) today reported record first quarter net income. Net income for the quarter ended March 31, 1992 was $3,209,000 compared with $2,915,000 last year, an increase of 10.1 percent. Net income per unit was $.31 compared to $.28 in 1991.
 Total revenues for the first quarter increased to $47,372,000 from $42,102,000 in the comparable period last year, a 12.5 percent increase. Same store comparable sales increased 4.3 percent in the first quarter compared with the first quarter of 1991. Franchise revenues were up 5.7 percent for the first quarter.
 "Our continuing improvement in same store comparable sales over the past three quarters reflects the success of the programs and systems we have developed, and we believe that we are positioned for success as the economy continues to improve during the remainder of 1992," said Donald N. Smith, Chairman and Chief Executive Officer.
 As of March 31, 1992, Perkins Family Restaurants, L.P., a Delaware Limited Partnership, owned and operated 119 Perkins Family Restaurants and franchised an additional 286 restaurants in 29 states and Canada.
 PERKINS FAMILY RESTAURANTS, L.P.
 STATEMENTS OF INCOME
 (Unaudited)
 (In Thousands, Except Per Unit Amounts)
 Three Months Ended
 March 31
 1992 1991
 Revenues:
 Food sales $ 44,022 $ 38,932
 Franchise revenues 3,350 3,170
 Total revenues 47,372 42,102
 Costs and Expenses:
 Cost of sales 13,604 11,301
 Operating expenses 23,182 20,954
 General and administrative 4,219 4,075
 Depreciation and amortization 2,620 2,430
 Interest, net 568 602
 Other, net ( 30) ( 175)
 Total costs and expenses 44,163 39,187
 Net Income $ 3,209 $ 2,915
 Net Income Per Unit $ .31 $ .28
 Cash Distributions Declared
 Per Unit $ .325 $ .30
 -0- 4/23/92
 /CONTACT: Michael P. Donahoe, Chief Financial Officer, Perkins Family Restaurants, L.P., 901-766-6400/
 (PFR) CO: Perkins Family Restaurants, L.P. ST: Tennessee IN: LEI SU: ERN


CM -- CH009 -- 1821 04/23/92 11:19 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 23, 1992
Words:353
Previous Article:GENERAL MAGNAPLATE REPORTS RESULTS
Next Article:INTERVOICE ANNOUNCES EARLY ADOPTION OF NEW ACCOUNTING RULES ON REVENUE RECOGNITION


Related Articles
PERKINS FAMILY RESTAURANTS, L.P. REPORTS SECOND QUARTER AND SIX MONTHS RESULTS
PERKINS FAMILY RESTAURANTS, L.P. REPORTS NET INCOME FOR THE THIRD QUARTER AND NINE MONTHS
PERKINS FAMILY RESTAURANTS, L.P. REPORTS FIRST QUARTER NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS SECOND QUARTER AND SIX MONTHS NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS RECORD THIRD QUARTER NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS RECORD QUARTERLY AND ANNUAL REVENUES AND A ONE-TIME CHARGE RELATED TO THE DISPOSITION OF SELECTED PROPERTIES
PERKINS FAMILY RESTAURANTS, L.P. REPORTS FIRST QUARTER NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS FIRST QUARTER NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS THIRD QUARTER AND NINE MONTHS NET INCOME
PERKINS FAMILY RESTAURANTS, L.P. REPORTS FIRST QUARTER RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters