Total Entertainment Restaurant Corp. Announces Second Quarter Earnings


WICHITA, Kan., July 10, 2001 (PRIMEZONE) -- Total Entertainment Restaurant Corp. (Nasdaq:TENT) announced record earnings and revenues for the twelve-week second quarter ended June 12, 2001. Net income increased 22.7% to $362,000 ($0.04 per share) for the quarter compared to $295,000 ($0.03 per share) in 2000. Sales increased 22.7% to $14,725,000 for the quarter compared to $12,006,000 in 2000. Comparable store sales increased 5.5% for the second quarter.

Steve Johnson, Chief Executive Officer, stated, "We are very pleased to report our ninth straight quarter of positive same store sales on units opened 18 months including our third consecutive quarter of comp sales in excess of 5%. We opened two new units, Ft. Worth, TX and Nashville, TN during the quarter and are on pace to meet our goal of seven new units during fiscal 2001. One unit is under construction and leases have been executed on seven additional sites."

The Company currently operates 40 entertainment restaurants in 34 markets under the names Fox and Hound English Pub & Grille, Bailey's Sports Grille, and Bailey's Pub & Grille.

This Press Release contains certain forward-looking statements of the Company 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.


                   Total Entertainment Restaurant Corp.
     Unaudited Summary Financial Data for the Second Quarter 2001
               ($ in thousands except per share amounts)

                      Condensed Income Statements

                                      For the twelve weeks ended
                                  June 12, 2001        June 13, 2000
                                    $        %          $        %
                                --------  -------   --------  -------
 Food & beverage                  13,352    90.7      10,790    89.9
 Entertainment & other             1,373     9.3       1,216    10.1
                                --------  -------   --------  -------
  Total net sales                 14,725   100.0      12,006   100.0

 Costs and expenses:

  Costs of sales                   4,040    27.4       3,159    26.3
  Restaurant and restaurant
    operating expenses             7,747    52.6       6,337    52.7
  Depreciation and amortization      850     5.8         825     6.9
  Preopening costs                   299     2.0           8     0.1
                                --------  -------   --------  -------
    Entertainment and
     restaurant costs and

     expenses                     12,936    87.8      10,329    86.0
                                ========  =======   ========  =======
 Entertainment and restaurant
   operating income                1,789    12.2       1,677    14.0
 General and
   administrative expenses           911     6.2         904     7.5
 Goodwill amortization                56     0.4          56     0.5
                                --------  -------   --------  -------

 Income from operations              822     5.6         717     6.0
 Other income (expense):
 Loss on disposal of assets          (28)   (0.2)         (6)   (0.1)
 Interest expense                   (223)   (1.5)       (243)   (2.0)
                                --------  -------   --------  -------
 Income before taxes                 571     3.9         468     3.9
 Provision for income taxes          209     1.4         173     1.4
                                --------  -------   --------  -------
 Net income                     $    362     2.5    $    295     2.5
                                ========  =======   ========  =======

 Basic and diluted
   earnings per share          $    0.04            $   0.03
                                ========            ======== 

 Restaurants open at
  end of period                       40                  35

 Comparable sales growth             5.5%                1.7%


                                    For the twenty-four weeks ended
                                  June 12, 2001        June 13, 2000

                                    $        %           $        %
                                --------  -------   --------  -------
 Food & beverage                  28,258    90.7      23,058    89.9
 Entertainment & other             2,904     9.3       2,598    10.1
                                --------  -------   --------  -------
  Total net sales                 31,162   100.0      25,656   100.0

 Costs and expenses:

  Costs of sales                   8,491    27.2       6,702    26.1
  Restaurant and restaurant
    operating expenses            15,772    50.6      12,769    49.8
  Depreciation and amortization    1,667     5.4       1,663     6.5
  Preopening costs                   370     1.2          14     0.1
                                --------  -------   --------  -------
    Entertainment and
     restaurant costs and
     expenses                     26,300    84.4      21,148    82.5
                                ========  =======   ========  =======
 Entertainment and restaurant
   operating income                4,862    15.6       4,508    17.5
 General and
  administrative expenses          1,777     5.7       1,862     7.3
 Goodwill amortization               113     0.4         113     0.4
                                ========  =======   ========  =======
 Income from operations            2,972     9.5       2,533     9.8
 Other income (expense):
 Loss on disposal of assets          (51)   (0.2)        (32)   (0.1)
 Interest expense                   (478)   (1.5)       (491)   (1.9)
                                --------  -------   --------  -------
 Income before taxes               2,443     7.8       2,010     7.8
 Provision for income taxes          890     2.8         744     2.9
                                --------  -------   --------  -------
 Net income                     $  1,553     5.0    $  1,266     4.9
                                ========  =======   ========  =======

 Basic and diluted
   earnings per share          $    0.18            $   0.13
                                ========            ========

 Restaurants open at
  end of period                       40                  35

 Comparable sales growth             5.8%                2.1%


            

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