Nathan's Famous, Inc. Reports Year End Results

Nathan's Famous, Inc. (NASDAQ:NATH) today reported results for its fiscal year ended March 29, 2009.

For the fifty-two weeks ended March 29, 2009, income from continuing operations was $4,958,000, or $0.80 per share as compared to $4,781,000 or $0.74 per share for the fifty-three weeks ended March 30, 2008. Total revenue from continuing operations increased by 4.2% to $49,221,000 for the fifty-two weeks ended March 29, 2009 as compared to $47,225,000 during fifty-three weeks ended March 30, 2008. Net income for the fifty-two weeks ended March 29, 2009 increased by 14.1% to $7,482,000 or $1.21 per share as compared to $6,555,000 or $1.01 per share for the fifty-three weeks ended March 30, 2008.

These results represent Nathan's sixth consecutive year of increased revenues and profits from continuing operations.

During the current fiscal year, Nathan's realized gains, net of tax, of $2,519,000 or $0.41 per share from the sale of its formerly wholly-owned subsidiary, NF Roasters Corporation and additional consideration from the sale of its formerly wholly-owned subsidiary, Miami Subs Corporation of $250,000 which was previously deemed contingent and not realized. The total of these gains before income taxes was $3,906,000.

During the previous fiscal year, Nathan's realized gains, net of tax, of $1,568,000 or $0.24 per diluted share from the sale of certain leasehold interests in Florida and from the sale of its formerly wholly-owned subsidiary, Miami Subs Corporation. The total gains before income taxes were $2,489,000.

For the thirteen weeks ended March 29, 2009, income from continuing operations was $887,000, or $.15 per share as compared to $754,000 or $0.12 per share for the fourteen weeks ended March 30, 2008. Total revenue from continuing operations was $10,039,000, as compared to $10,229,000 during the fourteen weeks ended March 30, 2008. Net income for the thirteen weeks ended March 29, 2009 was $944,000 or $0.16 per share, as compared to $752,000 or $0.12 per share for the fourteen weeks ended March 30, 2008.

During the fiscal 2009 period, Nathan's repurchased 693,806 shares of its common stock pursuant the stock buy-back programs adopted by its Board of Directors on November 5, 2007 and November 13, 2008. Additionally, Nathan's completed the 10b-5 trading plan adopted on June 11, 2008 for the purpose of effecting the November 2007 stock buy-back program.

There are 306,194 shares remaining to be repurchased under the November 2008 stock buy-back program. In connection with this plan, Nathan's adopted and entered into a new 10b-5 trading plan on February 5, 2009.

Logos, product and company names mentioned are the property of their respective owners.

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