Nathan's Famous, Inc. Reports First Quarter Results
For the quarter ended June 28, 2009, income from continuing operations increased by 15% to $1,563,000.
Nathan's Famous, Inc. (NASDAQ:NATH) reported results for the first quarter of its 2010 fiscal year that ended June 28, 2009.
For the quarter ended June 28, 2009, income from continuing operations increased by 15% to $1,563,000 or $0.27 per share, as compared to $1,355,000 or $0.21 per share for the quarter ended June 29, 2008. Total revenue from continuing operations increased to $14,232,000, as compared to $14,042,000 during the quarter ended June 29, 2008.
Eric Gatoff, Chief Executive Officer, said, "Our achievement of these positive operating results, especially in such a challenging economic environment, continues to reinforce the soundness of our business model and the dedication of everyone on the Nathan's Famous team."
Net income for the quarter was $1,563,000 or $0.27 per share, as compared to $3,822,000 or $0.59 per share for the quarter ended June 29, 2008, during which, Nathan's realized one-time gains, net of tax, of $2,462,000 or $0.38 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.
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