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RYAN'S FAMILY STEAK HOUSES, INC. REPORTS RECORD FIRST QUARTER 1992 RESULTS

 RYAN'S FAMILY STEAK HOUSES, INC. REPORTS
 RECORD FIRST QUARTER 1992 RESULTS
 GREER, S.C., April 15 /PRNewswire/ -- Ryan's Family Steak Houses, Inc. (NASDAQ-NMS: RYAN) reported record earnings for the first quarter of 1992.
 First quarter revenues amounted to $84,516,000, up 20 percent from $70,579,000 during the comparable quarter of 1991. Net earnings for the quarter increased 15 percent to $6,847,000 compared to $5,933,000 in 1991. Earnings per share amounted to 13 cents in 1992 and 11 cents in 1991 on 53,687,000 and 53,147,000 shares, respectively.
 At the end of the quarter, the Company owned and operated 148 and was franchisor of 35 Ryan's Family Steak House restaurants. Six Company-owned restaurants began operations during the first quarter. The Company plans to open an additional seventeen restaurants during the year, resulting in 165 Company-owned restaurants at the end of 1992.
 RYAN'S FAMILY STEAK HOUSES, INC
 STATEMENTS OF EARNINGS
 (Unaudited)
 Quarter Ended
 April 1, April 3,
 1992 1991
 Revenues:
 Sales by Company-owned restaurants $83,404,000 $69,716,000
 Revenues from franchised restaurants 761,000 739,000
 Interest and other income 351,000 124,000
 Total revenues 84,516,000 70,579,000
 Costs and expenses:
 Company-owned restaurants:
 Food and beverage 34,845,000 28,955,000
 Payroll and benefits 23,078,000 18,594,000
 Depreciation and amortization 3,399,000 2,962,000
 Other operating expenses 8,991,000 7,614,000
 70,313,000 58,125,000
 General and administrative expenses 3,302,000 2,947,000
 Interest expense 15,000 46,000
 Total costs and expenses 73,630,000 61,118,000
 Earnings before income taxes 10,886,000 9,461,000
 Income taxes 4,039,000 3,528,000
 Net earnings $6,847,000 $5,933,000
 Net earnings per common and
 common equivalent share $ .13 $ .11
 Weighted average shares 53,687,000 53,147,000
 -0- 4/15/92
 /CONTACT: Fred T. Grant, Jr., Vice President-Finance, Ryan's Family Steak Houses, Inc., 803-879-1000/
 (RYAN) CO: Ryan's Family Steak Houses, Inc. ST: South Carolina IN: LEI SU: ERN


CM -- CH001 -- 8569 04/15/92 10:02 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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