Ark Restaurants Announces Financial Results for the Third Quarter and Nine Months Ended June 27, 2009
Total revenues from continuing operations for the three month period ended June 27, 2009 were $31.1 million versus $36 million in the same period last year. Total revenues from continuing operations for the nine month period ended June 27, 2009 were $81.7 million versus $90.8 million in the same period last year.
EBITDA from continuing operations for the three month period ended June 27, 2009 was $3,430,000 versus $5,692,000 during the same three month period last year. EBITDA from continuing operations for the nine month period ended June 27, 2009 was $4,872,000 versus $9,443,000 during the same nine month period last year.
For the three months ended June 27, 2009, the Company's net income from continuing operations was $1,597,000, or $0.46 per share ($0.46 per diluted share), compared to $3,250,000, or $0.90 per share ($0.90 per diluted share), for the same period last year. For the nine months ended June 27, 2009, the Company's net income from continuing operations was $1,733,000, or $0.50 per share ($0.50 per diluted share), compared to $4,945,000, or $1.37 per share ($1.37 per diluted share), for the same period last year.
Company-wide same store sales decreased 14.3% compared to the same three month period last year and decreased 13.1% compared to the same nine month period last year.
As of June 27, 2009, the Company had cash, cash equivalents and short term investments totaling $10,527,000. As of the same date, the Company had no long-term debt other than $560,000 remaining due on a five year purchase money obligation undertaken in connection with the Company's January 8, 2007 acquisition of the Durgin Park Restaurant and the Black Horse Tavern in Boston, Massachusetts.
Ark Restaurants owns and operates 20 restaurants and bars, 30 fast food concepts, catering operations and wholesale and retail bakeries. Seven restaurants are located in New York City, four are located in Washington, D.C., five are located in Las Vegas, Nevada, two are located in Atlantic City, New Jersey, one is located at the Foxwoods Resort Casino in Ledyard, Connecticut and one is located in Boston, Massachusetts. The Las Vegas operations include three restaurants within the New York-New York Hotel & Casino Resort and operation of the hotel's room service, banquet facilities, employee dining room and nine food court concepts; one bar within the Venetian Casino Resort as well as three food court concepts. The Florida operations under management include five fast food facilities in Tampa, Florida and seven fast food facilities in Hollywood, Florida, each at a Hard Rock Hotel and Casino operated by the Seminole Indian Tribe at these locations. In Atlantic City, New Jersey, the Company operates a restaurant and a bar in the Resorts Atlantic City Hotel and Casino. In Boston, Massachusetts, the Company operates a restaurant in the Faneuil Hall Marketplace.
Logos, product and company names mentioned are the property of their respective owners.
- Ark Restaurants Announces Resignation of President and Chief Operating Officer
- Ark Restaurants Announces Financial Results for the Fourth Quarter and Full Year 2011
- Ark Restaurants Repurchases 250,000 Shares of Common Stock From Stockholder
- Ark Restaurants Announces Repurchase of 250,000 Shares of Common Stock From Stockholder
- Ark Restaurants Announces Financial Results for the Third Quarter of 2011
- Ruth’s Hospitality Group, Inc. Reports Full Year and Fourth Quarter 2011 Financial Results
- Tootie Pie Company January Same Store Sales Up 23%
- Panera Bread Company Reports Fourth Quarter and Full Year Fiscal 2011 Diluted EPS of $1.42 and $4.65, Both Before One-Time Charge, Up 17% and 28% Over Fiscal 2010
- Chick-fil-A Achieves Record Annual Sales of $4 Billion
- Benihana Inc. Reports Results for Fiscal Third Quarter 2012
