Cooker profits up 52% for 4th quarter and year

Nation's Restaurant News, Feb 10, 1997

WEST PALM BEACH, Fla. -- Cooker Restaurant Corp. ended its fourth quarter and year with a 52-percent gain in earnings, increasing to $185 million for the quarter and $6.73 million for the year from prior-year earnings of $1.22 million in the quarter and $4.43 million for the year.

For the year ended Dec. 29, Cooker had sales of $110.27 million, up 20 percent from $91.68 million in 1995. Restaurant operating expense improved 22.5 percent, to $18.47 million, from $15.07 million.

Sales for the fourth quarter rose 23 percent, to $28.69 million, from $23.33 million in the comparable quarter a year earlier. Operating expense was up 25 percent, to $4.85 million. from $3.88 million.

Cooker president and chief operating officer Phil Pritchard said conversion of the five China Coast restaurants acquired last year from Darden Restaurants is "well under way" with the first opened this month in Tampa, near Busch Gardens. Cooker expects to open the other four by the end of March and plans to open between 11 and 13 units this year.