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Overview

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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.

 

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