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WENDY'S PROFITS UP 25 PERCENT IN THIRD QUARTER

 WENDY'S PROFITS UP 25 PERCENT IN THIRD QUARTER
 DUBLIN, Ohio, Oct. 29 /PRNewswire/ -- Higher sales and more


restaurants helped Wendy's International's (NYSE: WEN) profits jump 25 percent for the third quarter ended October 4.
 Net income was $19.9 million versus $16.0 million a year earlier. Primary earnings per share were $.20, or $.19 on a fully diluted basis, compared with $.16 in 1991.
 Wendy's posted its 15th consecutive quarter of year-to-year sales gains. Revenues for the quarter rose 18 percent to $317.3 million from $268.8 million last year.
 Average net sales per domestic company restaurant rose 6.4 percent over last year, while average prices declined about 2 percent, resulting in an 8.4 percent real sales growth. All-time sales records were established for all of the 13 weeks in the quarter.
 Systemwide sales, or sales of company and franchise restaurants, rose 11 percent to $925 million for the quarter versus $833 million a year ago.
 "Another solid quarter," said James W. Near, Wendy's chairman and CEO. "We continue to get better at running restaurants. Our sales are up while average menu prices are down, so we're attracting more customers. Our challenge is to continue these improvements in a highly competitive industry and uncertain economy." Near added that customer traffic was up about 5 percent for the quarter and 4.2 percent year-to- date.
 "Jim Near is an outstanding leader," Dave Thomas, founder, stated. "His management ability and motivational skills are the best in the industry. Jim received the 'Triple Crown' of industry awards this year, winning the top honor bestowed by each of the three restaurant publications," he added. "This recognition is well deserved and shared by everyone in the Wendy's family."
 Nine Months Profits Up 24 Percent
 Net income for the first nine months of 1992 was up 24 percent to $50.0 million, or $.49 per share fully diluted, versus $40.4 million, or $.41. Company restaurant operating margins for the first three quarters improved to 13.7 percent from 12.9 percent a year ago.
 Revenues were up 18 percent to $932.7 million, compared to $790.7 million a year ago. The 1992 figures include an extra week, taken during the second quarter, because of fiscal year accounting policy.
 Systemwide sales rose to $2.7 billion, versus $2.4 billion last year. All-time sales records were posted for 37 out of the 40 weeks. Near said the company's on track to post its highest systemwide sales, revenues and average restaurant sales in its history.
 Dividend Announced
 The board of directors approved a quarterly dividend of $.06 per share, payable Nov. 23 to shareholders of record Nov. 9.
 Wendy's had 152 more restaurants open systemwide at the end of the quarter versus last year. The company plans to open or begin construction on 250 restaurants systemwide this year. There were 3,921 Wendy's Old Fashioned Hamburgers restaurants open worldwide as of Oct. 4, and 69 under construction.
 WENDY'S INTERNATIONAL, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENT OF INCOME
 (In thousands except per share data)
 Quarters Ended Year-to-Date Ended
 10/4/92 9/29/91 10/4/92 9/29/91
 (13 Wks.) (13 Wks.) (40 Wks.) (39 Wks.)
 Retail sales $285,520 $244,346 $845,871 $716,818
 Royalties 24,719 22,489 72,310 64,357
 Other 7,043 1,946 14,476 9,519
 Total 317,282 268,781 932,657 790,694
 Costs & expenses:
 Cost of sales 168,564 141,666 497,976 419,848
 Company restaurant
 operating costs 76,975 69,186 232,266 204,214
 General and admini-
 strative expenses 22,040 17,961 68,911 53,894
 Depreciation and
 amortization of
 property and
 equipment 15,459 13,895 45,582 41,646
 Interest, net 3,139 2,631 9,724 9,184
 Total 286,177 245,339 854,459 728,786
 Income before income
 taxes and extra-
 ordinary loss 31,105 23,442 78,198 61,908
 Income taxes 11,195 7,221 28,152 21,074
 Income before
 extraordinary loss 19,910 16,221 50,046 40,834
 Extraordinary loss
 on early extinguish-
 ment of debt (net
 of income tax benefit
 of $149, $9 and $242) -- (243) (14) (396)
 Net income $ 19,910 $ 15,978 $ 50,032 $ 40,438
 Per share data:
 Primary net income $.20 $.16 $.49 $.41
 Fully diluted
 net income $.19 $.16 $.49 $.41
 Dividends $.06 $.06 $.18 $.18
 Primary weighted
 average shares
 outstanding 101,315 99,556 101,177 99,378
 Systemwide sales: $925 M $833 M $2,712 M $2,407 M
 Average net sales
 per domestic
 restaurant:
 Company $237,300 $223,100 $711,100 $657,000
 Franchise 235,100 217,800 695,600 631,300
 Total domestic 235,800 219,300 700,400 638,700
 Number of restaurants:
 Company 1,191 1,073 1,191 1,073
 Franchise 2,730 2,696 2,730 2,696
 Total 3,921 3,769 3,921 3,769
 -0- 10/29/92
 /CONTACT: Denny Lynch of Wendy's International, Inc., 614-764-3413/
 (WEN) CO: Wendy's International ST: Ohio IN: LEI SU: ERN


KK -- CL009 -- 6481 10/29/92 10:20 EST
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Date:Oct 29, 1992
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