Hardee's Food Systems Inc., which says it is the world's fourth-largest restaurant company, reported first-quarter earnings from operations of $1.3 million, up from a loss of $10.5 million for the same period last year.
Robert Autry, Hardee's president and chief executive officer, credited the improvement to new products, such as the Frisco grilled chicken sandwich, and improved service.Systemwide sales for the quarter were $1.1 billion, an increase of 7 percent over the first-quarter total of $1 billion in 1992. Company revenues during the quarter were $450 million, compared with $426 million in 1992, an increase of 6 percent.
"While the market remains very competitive, Hardee's is on course to build on the strong earnings recovery which began in the latter half of 1992," Autry said.
Hardee's, which has its headquarters in Rocky Mount, operates 4,000 company and franchise restaurants in 40 states and 11 foreign countries. About 650 of the restaurants operate under the Roy Rogers trademark.