CBRL Group, Inc. Announces 19% Increase in Diluted Net Income Per Share for the Second Quarter of Fiscal 2004.

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CBRL Group, Inc. Announces 19% Increase in Diluted Net Income Per Share for the Second Quarter of Fiscal 2004.

Business Editors

LEBANON, Tenn.--(BUSINESS WIRE)--Feb. 19, 2004

Reports Current Sales Trends and

Provides Guidance for the Remainder of Fiscal 2004

CBRL Group, Inc. (the "Company") (NASDAQ: CBRL) today announced results for its second quarter of fiscal 2004 ended January 30, 2004, reporting diluted net income per share of $0.57, up 19% from $0.48 in the second quarter of fiscal 2003. The Company also reported recent third-quarter fiscal 2004 sales trends and provided guidance for the third quarter and remainder of fiscal 2004.

Highlights of the fiscal 2004 second-quarter results and current sales trends include:

-- Diluted net income per share for the second quarter of fiscal

2004 was up 18.8% and net income was up 17.8% from the second

quarter of fiscal 2003 on an 8.8% increase in total revenue.

-- Operating income margin for the quarter improved to 7.7% from

7.1% compared with a year earlier.

-- Comparable store restaurant sales for the quarter were up 2.4%

for the Company's Cracker Barrel Old Country Store(R)

("Cracker Barrel") operations, and comparable stor...

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