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Ark Restaurants revenues $139,357,000

Staff writer ▼ | December 22, 2014
Ark Restaurants reported financial results for the fourth quarter and full year ended September 27, 2014. Q4 total revenues were $37,072,000 versus $33,906,000 for the three months ended September 28, 2013.
Ark Restaurants
Slightly down   Ark Restaurants reports a bit lower income
Q4 includes revenues of $3,477,000 related to The Rustic Inn, which was acquired on February 24, 2014. The three-month period ended September 28, 2013 includes revenues of $1,235,000 related to two properties closed during Q3 2014 due to lease expirations.

Total revenues for the year ended September 27, 2014 were $139,357,000 versus $130,598,000 for the year ended September 28, 2013. The year ended September 27, 2014 includes revenues of $8,753,000 related to The Rustic Inn, which was acquired on February 24, 2014 and $2,621,000 related to Broadway Burger Bar, which was opened in the Tropicana Hotel and Casino during June 2013.

The year ended September 27, 2014 also includes revenues of $3,565,000 related to two properties closed during the third fiscal quarter of 2014 due to lease expirations. The year ended September 28, 2013 includes revenues of $414,000 related to two properties closed in the first quarter of fiscal 2013 due to lease expirations.

Company-wide same store sales increased 2.3% for the three-month period ended September 27, 2014 compared to the same three month period last year. For fiscal 2014 company-wide same store sales increased 0.5% compared to the same period last year.

The Company’s EBITDA, adjusted for non-cash stock option expense and non-controlling interests, for the three-month period September 27, 2014 was $4,236,000 versus $3,458,000 during the same three-month period last year.

Net income for the three-month period ended September 27, 2014 was $2,288,000, or $0.68 per basic share ($0.66 per diluted share), as compared to $1,453,000, or $0.45 per basic share ($0.43 per diluted share), for the same three-month period last year.

The Company’s EBITDA, adjusted for non-cash stock option expense and non-controlling interests, for the year ended September 27, 2014 was $11,814,000 versus $10,703,000 last year.

Net income for the year ended September 27, 2014 was $4,915,000, or $1.49 per basic share ($1.43 per diluted share), as compared to $3,824,000, or $1.18 per basic share ($1.13 per diluted share), for the same period last year. â– 


 

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