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THE KRYSTAL COMPANY REPORTS INCREASES IN SALES, NET INCOME

 THE KRYSTAL COMPANY REPORTS INCREASES IN SALES, NET INCOME
 CHATTANOOGA, Tenn., May 19 /PRNewswire/ -- The Krystal Company (NASDAQ-NMS: KRYS), an operator and franchiser of quick-service restaurants which completed an initial public offering earlier this month, today reported pro forma net income for the quarter ended March 29 of $696,000, or 13 cents a share.
 These earnings compare favorably with the prior year's pro forma net income of $215,000.
 Revenues for the first three months were $52.8 million, up 9.7 percent from the previous year's first quarter. Restaurant sales for the period increased 9.6 percent to $51.5 million.
 First quarter revenues included franchise fees of $97,000, compared with $33,000 of franchise fees in the first quarter of 1991. Krystal began franchising in late 1990 and had 19 franchised restaurants in operation at the end of March 1992.
 Krystal Chairman and Chief Executive Officer Carl Long cited improved operating efficiency and the addition of franchise units as primary reasons for the company's progress.
 "We've updated our equipment, installed new technology in most drive-through units and significantly reduced employee turnover, all of which have improved our profitability," Long said. "Our franchising efforts have also been successful to date."
 The Krystal Company operates 230 restaurants in Arkansas, Alabama, Florida, Georgia, Kentucky, Mississippi, South Carolina and Tennessee. Krystal franchisees operate an additional 21 restaurants located in Alabama, Georgia, Mississippi, South Carolina and Tennessee.
 Founded in 1932 and celebrating its 60th anniversary this year, Krystal is the second-oldest fast-food chain in the nation. The company completed its initial public offering on May 14. The Krystal Company's common stock is traded on the NASDAQ National Market System under the symbol KRYS.
 -0- 5/19/92 R
 /CONTACT: Claudia D'Avanzo of Fleishman Hillard, 404-659-4446, for Krystal, or Mark Williams of The Krystal Company, 615-757-1563/
 (KRYS) CO: The Krystal Company ST: Tennessee IN: LEI SU: ERN


EA-BR -- AT019 -- 1970 05/19/92 15:31 EDT
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Publication:PR Newswire
Date:May 19, 1992
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