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

 MEMPHIS, Tenn., July 23 /PRNewswire/ -- Perkins Family Restaurants, L.P. (NYSE: PFR) today reported net income for the second quarter ended June 30, 1993, increased 5.1 percent to $4,531,000 compared to second quarter earnings last year of $4,311,000. Net income per limited partnership unit was $.44 for the second quarter of 1993 compared to $.42 in 1992.
 Net income for the six months ended June 30, 1993, increased 3.0 percent to $7,749,000 compared to $7,520,000 in 1992. Net income per limited partnership unit for the same period was $.75 compared to $.73 last year.
 Total revenues for the second quarter and the first half of 1993 increased to $53,439,000 and $102,482,000, respectively, compared to $48,824,000 and $96,196,000 in the same periods last year. Same store comparable sales for partnership-operated restaurants increased 3.4 percent in the second quarter and 1.9 percent in the first six months.
 The Partnership has opened three partnership-operated and four franchised restaurants in the first six months of 1993. An additional 16 restaurants are under development and are expected to open in the third and fourth quarters.
 "We are very pleased with our second quarter results. The Partnership's net income margin however was somewhat impacted by an increase in general and administrative expenses resulting from our efforts to build strength in key operations and support roles within the company. We believe this investment in personnel is necessary for our continued success in our very competitive industry segment," said Donald N. Smith, chairman and chief executive officer.
 As of June 30, 1993, Perkins Family Restaurants, L.P., a Delaware limited partnership, owned and operated 124 Perkins Family Restaurants and franchised an additional 291 restaurants in 30 states and Canada.
 PERKINS FAMILY RESTAURANTS, L.P.
 STATEMENTS OF INCOME
 (Unaudited)
 (In Thousands, Except Unit Data)
 Three Months Ended Six Months Ended
 June 30 June 30
 1993 1992 1993 1992
 Revenues:
 Food sales $49,718 $45,358 $95,286 $89,380
 Franchise revenues 3,721 3,466 7,196 6,816
 Total revenues 53,439 48,824 102,482 96,196
 Costs and Expenses:
 Cost of sales:
 Food cost 14,654 13,313 28,201 26,366
 Labor and benefits 16,343 14,997 31,515 29,604
 Operating expenses 10,016 9,157 19,537 18,283
 General and
 administrative 4,413 3,918 8,624 8,137
 Depreciation and
 amortization 2,930 2,662 5,735 5,282
 Interest, net 660 590 1,335 1,158
 Other, net (108) (124) (214) (154)
 Total costs and expenses 48,908 44,513 94,733 88,676
 Net income $4,531 $4,311 $7,749 $7,520
 Weighted average units
 outstanding 10,273,479 10,257,001 10,267,369 10,257,579
 Net income per unit $.44 $.42 $.75 $.73
 Cash distributions
 declared per unit $.325 $.325 $.65 $.65
 -0- 7/23/93
 /CONTACT: Michael P. Donahoe, Chief Financial Officer, Perkins Family Restaurants, 901-766-6400/
 (PFR)


CO: Perkins Family Restaurant, L.P. ST: Tennessee IN: LEI REA SU: ERN

CM-SB -- CH005 -- 5163 07/23/93 12:36 EDT
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Date:Jul 23, 1993
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