Printer Friendly

PERKINS FAMILY RESTAURANTS, L.P. REPORTS SECOND QUARTER AND SIX MONTHS RESULTS

 PERKINS FAMILY RESTAURANTS, L.P. REPORTS
 SECOND QUARTER AND SIX MONTHS RESULTS
 MEMPHIS, Tenn., July 28 /PRNewswire/ -- Perkins Family Restaurants, L.P. (NYSE: PFR) today reported that net income for the second quarter ended June 30, 1992 increased 2.6 percent over last year. Net income was $4,311,000 for the quarter as compared with $4,201,000 for the second quarter last year. Net income per unit was $.42 as compared with $.41 last year.
 Net income for the six months ended June 30, 1992 increased 5.7 percent over last year. Net income for the first half of 1992 was $7,520,000 or $.73 per unit, as compared with $7,116,000 or $.69 per unit for the comparable period last year.
 Total revenues increased to $48,824,000 and $96,196,000 for the second quarter and first half of 1992, respectively, compared with $45,011,000 and $87,113,000 for the comparable periods in the prior year. Same store sales for company operated restaurants were up 3.1 percent and 3.7 percent for the second quarter and first half of 1992, respectively. Franchise revenues were down .6 percent and up 2.4 percent for the second quarter and first half of 1992, respectively.
 "Although we experienced some of the same downturn as did others in the industry during the second quarter, we continue to have a great deal of confidence in the Perkins system and our future prospects. We are accelerating our company store development and aggressively testing a new dinner program that is aimed at increasing guest satisfaction and check average at that time of day," said Donald N. Smith, Chairman and Chief Executive Officer.
 As of June 30, 1992, Perkins Family Restaurants, L.P. a Delaware limited partnership, owned and operated 118 Perkins Family Restaurants and franchised an additional 287 restaurants in 29 states and Canada.
 PERKINS FAMILY RESTAURANTS, L.P.
 STATEMENTS OF INCOME
 (Unaudited)
 (In Thousands, Except Per Unit Amounts)
 Three Months Ended Six Months Ended
 June 30 June 30
 1992 1991 1992 1991
 Revenues:
 Food sales $45,358 $41,525 $89,380 $80,457
 Franchise revenues 3,466 3,486 6,816 6,656
 Total revenues 48,824 45,011 96,196 87,113
 Cost and Expenses:
 Cost of sales 13,796 12,378 27,400 23,679
 Operating expenses 23,671 21,506 46,853 42,460
 General and administrative 3,918 4,056 8,137 8,131
 Depreciation and amortization 2,662 2,477 5,282 4,907
 Interest, net 590 551 1,158 1,153
 Other, net (124) (158) (154) (333)
 Total costs and expenses 44,513 40,810 88,676 79,997
 Net Income $4,311 $4,201 $7,520 $7,116
 Net Income Per Unit $.42 $.41 $.73 $.69
 Cash Distributions Declared
 Per Unit $.325 $.325 $.65 $.625
 -0- 7/28/92
 /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


DF -- CH001 -- 4177 07/28/92 14:48 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:Jul 28, 1992
Words:514
Previous Article:IBM AND SEALUND & ASSOCIATES DELIVER ADA COMPLIANCE TRAINING PACKAGE
Next Article:CNL REALTY INVESTORS, INC. ANNOUNCES INVESTMENT PLANS, AMEX LISTING AND SECOND QUARTER RESULTS
Topics:


Related Articles
PERKINS FAMILY RESTAURANTS, L.P. REPORTS 15 PERCENT INCREASE IN 1991 NET INCOME BEFORE GAINS
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 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 SECOND QUARTER, MID-YEAR RESULTS
Perkins Family Restaurants, L.P. Reports Third Quarter And Nine Month Results
Perkins(R) Family Restaurants, L.P., Announces Positive Second Quarter and Mid-Year Results
Perkins(R) Family Restaurants Reports Continued Strong Second-Quarter, Mid-Year Performance
Perkins(R) Family Restaurants, L.P. Reports Continued Growth in Comparable Sales, EBITDA and Net Income.

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