Press
Releases 1998
For Immediate Release
Contact: James K. Zielke
(316) 634-0505
NASDAQ: TENT
April 2, 1998
Total Entertainment Restaurant Corp.
First Quarter Earnings and News Release
DALLAS, TEXAS -- Total Entertainment Restaurant Corp. announced
record first quarter earnings and sales for the twelve weeks
ended March 24, 1998.
Net income
increased 257.4% for the first quarter to $679,000 or $.07
per share compared with $190,000 or $.02 per share for the
first quarter last year.
First
quarter sales increased 65.8% to $6,774,000 compared with
$4,085,000 for last year. Comparable store sales increased
3.2% in the first quarter.
First
quarter restaurant operating income increased 70.6% to $1,668,000
compared to $978,000 for last year.
One Fox
& Hound English Pub and Grille unit was opened in Montgomery,
Alabama during the first quarter. Development plans for 1998
call for twenty new units to be opened. Construction has begun
on two units and leases have been signed on five additional
units.
The Company
currently operates seven Fox & Hound English Pub and Grilles
and ten Bailey's Sports Grilles in sixteen markets.
This Press
Release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Although the Company believes the assumptions
underlying the forward-looking statements contained herein
are reasonable, any of the assumptions could be inaccurate,
and therefore, there can be no assurance that the forward-looking
statements contained in the Press Release will prove to be
accurate.
|