Shares of Ark Restaurants Corp. (ARKR) have gained 1.1% since the company reported its earnings for the quarter ended Dec. 28, 2024. This compares to the S&P 500 Index’s 0.4% gain over the same time frame. Over the past month, the stock lost 10.9% versus the S&P 500’s 3.4% rise.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Financial PerformanceArk Restaurants reported total revenues of $44.9 million for the first quarter of fiscal 2025, a decline of 5.3% from $47.5 million in the ye ...

Financial Performance - The Company's operating income for the 13 weeks ended December 28, 2024, increased by 254.9% to $5,689,000, primarily due to a gain on the termination of the Tampa Food Court lease[101]. - Total revenues for the same period decreased by 5.3% to $44,988,000, attributed to declines in same-store sales and closures of El Rio Grande and the Tampa Food Court[103]. - Same-store sales decreased by 2.3% company-wide, with notable declines of 18.2% in Washington, D.C., and 3.8% in Las Vegas[105]. - The loss on the closure of El Rio Grande was recorded at $146,000 during the 13 weeks ended December 28, 2024[101]. - The Company experienced a decrease in general and administrative expenses, primarily due to lower bonus accruals[108]. Cost Structure - Food and beverage costs as a percentage of total revenues increased to 26.9% due to rising commodity prices and a weaker event business in New York City[106]. - Payroll expenses accounted for 36.5% of total revenues, reflecting increasing minimum wages in operating states[107]. - The company is facing multi-decade high inflation, impacting costs for food, labor, and other supplies, with no material disruptions in the supply chain reported[114]. - The company has been able to offset inflation through targeted menu price increases, but future pricing flexibility may be limited by competitive conditions[115]. Cash Flow and Financing - As of December 28, 2024, the company had cash and cash equivalents of $13,101,000 and a working capital deficit reduced to $4,264,000 from $10,659,000 a year earlier[113]. - Net cash used in operating activities for the 13 weeks ended December 28, 2024 was $1,346,000, a decrease from net cash provided of $558,000 in the same period last year[117]. - Net cash provided by investing activities increased to $4,895,000 for the 13 weeks ended December 28, 2024, compared to cash used of $254,000 in the prior year[118]. - The company entered into a new revolving credit facility of $10,000,000, with a maturity date of June 1, 2025, and no advances were outstanding as of December 28, 2024[120]. - The weighted average interest on the outstanding indebtedness under the credit agreement was approximately 8.2% as of December 28, 2024[120]. - The company believes its existing cash balances and internal cash-generating capabilities are sufficient to finance capital expenditures and operating activities for at least the next 12 months[123]. Business Operations - The Company owned and operated 16 restaurants and bars, 12 fast food concepts, and catering operations exclusively in the United States as of December 28, 2024[97]. - The Company is pursuing new 10-year agreements for its Bryant Park locations, with proposals submitted in October 2023[96]. - The agreements for the Bryant Park Grill & Cafe and The Porch at Bryant Park are set to expire on April 30, 2025, with new proposals submitted for 10-year agreements[122].

Ark Restaurants Corp. (NASDAQ:ARKR) Q1 2025 Earnings Conference Call February 11, 2025 11:00 AM ET Company Participants Christopher Love - Secretary Anthony Sirica - Chief Financial Officer Michael Weinstein - Chairman & Chief Executive Officer Conference Call Participants Jeffrey Kaminski - JJK Consulting Operator Greetings, and welcome to the Ark Restaurants First Quarter 2025 Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow ...

Financial Performance - Total revenues for the first quarter ended December 28, 2024, were $44,988,000, a decrease of 5.3% compared to $47,487,000 for the same period in 2023[3] - Company-wide same store sales decreased by 2.3% for the 13 weeks ended December 28, 2024, compared to the prior year[4] - Net income attributable to Ark Restaurants Corp. for the quarter was $3,164,000, or $0.88 per share, compared to $1,370,000, or $0.38 per share, for the same period in 2023[5] - Adjusted EBITDA for the quarter was $1,378,000, down from $2,572,000 in the prior year[5] - Operating income for the quarter was $5,689,000, significantly higher than $1,603,000 in the same period last year[18] Cash and Debt Position - The company had cash and cash equivalents of $13,101,000 and total outstanding debt of $4,702,000 as of December 28, 2024[6] Impact of Closures - The closure of El Rio Grande resulted in a loss of $146,000 during the quarter, following a prior loss of $876,000 recorded in the previous fiscal year[7] - A gain of $5,235,000 was recorded from the closure of the Tampa Food Court during the quarter[8] - The company plans to distribute approximately 35% of the net proceeds from the Tampa Food Court closure to other equity holders during the second fiscal quarter of 2025[8] Lease Management - The company is pursuing options to protect its interests regarding the leases for Bryant Park Grill & Cafe and The Porch at Bryant Park, which expire on April 30, 2025[10]

Lease Agreements and Terminations - The company owns a 19.2% interest in the partnership that owns El Rio Grande and will terminate the lease and close the property permanently on or around January 1, 2025[31] - The company owns a 64.4% interest in the partnership that owns the Tampa and Hollywood Food Courts and agreed to terminate its lease for the food court at The Hard Rock Hotel and Casino in Tampa, FL on November 26, 2024[33] - The company extended its lease for Gallagher's Steakhouse at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2032, spending approximately $1,900,000 on refresh[36] - The company extended its lease for America at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2033, agreeing to spend a minimum of $4,000,000 on refresh, with $100,000 spent to date[37] - The company extended its lease for the Village Eateries at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2034, agreeing to spend a minimum of $3,500,000 on refresh, with $950,000 spent to date[38] - The company recorded a loss of $876,000 in connection with the termination of the El Rio Grande lease, including $398,000 in rent and other costs, $94,000 in severance, $269,000 in impairment charges, and $238,000 in security deposit write-off[42] Investments and Distributions - The company made a total investment of $5,108,000 in New Meadowlands Racetrack LLC, with an effective ownership interest of 7.4%[43] - The company received distributions of $26,000 and $52,000 from New Meadowlands Racetrack LLC for the years ended September 28, 2024, and September 30, 2023, respectively[45] Employment and Seasonality - The company employed 1,862 persons as of November 30, 2024, including 1,246 full-time and 616 part-time employees[55] - The company’s business is highly seasonal, with the second quarter (January, February, and March) being the poorest performing quarter, while the warmer weather months yield the best results[64] Company Information and SEC Reports - Company's annual, quarterly, and current reports are available on its website www.arkrestaurants.com[65] - SEC reports can be accessed through the investor relations section of the company's website[65] - Information on the company's website is not part of any SEC filings[65] - SEC reports are also available at the SEC's Office of Investor Education and Advocacy[66] - SEC maintains an Internet website www.sec.gov for viewing company information[66] - Company's principal executive offices are located at 85 Fifth Avenue, New York, New York 10003[67] - Company's telephone number is (212) 206-8800[67] Market Risk Disclosures - Quantitative and Qualitative Disclosures About Market Risk are not applicable[180]

Shares of Ark Restaurants Corp. (ARKR) have lost 20.3% since the company reported earnings for the quarter ended Sept. 28, 2024. This compares unfavorably with the S&P 500 Index’s 2.9% decline over the same time frame. Over the past month, the stock has moved up 6.3% versus the S&P 500’s 0.4% fall.For the fourth quarter of fiscal 2024, Ark Restaurants reported total revenues of $43.4 million, down 2.2% from $44.4 million in the year-ago quarter. The company incurred a net loss of $4.5 million, or $1.24 per ...

Financial Data and Key Metrics Changes - The company ended the year with $10.3 million in cash and $5.2 million in debt, with one more principal payment due on February 1 and a remaining debt balance of $4.4 million maturing on June 1 [6][7] - The company reported a loss of $876,000 related to the closure of El Rio Grande, which included write-offs of a security deposit, six months of rent, and severance [9] - An additional goodwill impairment of $4 million was recorded, following a previous $10 million impairment last year [10][11] Business Line Data and Key Metrics Changes - The company experienced reduced sales and a challenging revenue environment, particularly in Florida and Washington DC, while Alabama performed consistently well [14][15] - Labor costs have stabilized, but expenses related to insurance premiums and payroll increases continue to impact margins [14][15] Market Data and Key Metrics Changes - The revenue environment remains challenging in several markets, with Las Vegas showing okay revenues but impacted by increased expenses [15] - New York's business is described as decent, but there are no significant new business developments [15][16] Company Strategy and Development Direction - The company is exploring new business opportunities, including the Lucky Pig concept, which is operational and expected to expand [80][84] - The company is also focused on improving existing businesses, enhancing efficiency, and increasing marketing efforts to drive customer traffic [87] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing challenges in the revenue environment and the impact of rising costs on margins [14][15] - The company is optimistic about the potential for a casino license in the Meadowlands, which could significantly enhance revenue opportunities [30][39] Other Important Information - The company is in discussions to extend its credit agreement and term out the remaining debt over several years [7] - The landlord of the food court in Tampa has agreed to pay $5.5 million for the company to vacate the space, which will add to the cash on the balance sheet [12][50] Q&A Session Summary Question: Developments regarding the casino licenses in New York City - Management discussed the competition for downtown licenses and the potential impact on New Jersey's gaming revenue if a casino opens in Manhattan [22][30] Question: Non-cash write-downs and their implications - Management confirmed that the total non-cash write-downs over the last two years amount to approximately $16.5 million, primarily due to stock price performance [39][43] Question: Future growth drivers for the stock - Management highlighted ongoing efforts to explore new concepts and improve existing operations as key drivers for future stock performance [80][87]

Exhibit 99.1 Ark Restaurants Announces Financial Results for the Fourth Quarter and Fiscal Year Ended 2024 CONTACT: Anthony J. Sirica (212) 206-8800 ajsirica@arkrestaurants.com NEW YORK, New York - December 16, 2024 -- Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the fourth quarter and fiscal year ended September 28, 2024. The Company's fiscal year ends on the Saturday nearest September 30. The fiscal years ended September 28, 2024 and September 30, 2023 both included 52 weeks an ...

Ark Restaurants Corp. (ARKR) reported earnings per share of 18 cents in the third quarter of fiscal 2024, which decreased 79.5% from the year-ago quarter’s figure of 88 cents.Revenues in DetailArk Restaurants registered revenues of $50.4 million in the fiscal third quarter, down 1.3% year over year.This primarily resulted from a decrease in same-store sales, partially offset by an increase in sales at Gallagher's Steakhouse at the New York-New York Hotel and Casino in Las Vegas, NV, which was substantially ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ 85 Fifth Avenue, New York, NY 10003 (Address of Principal Executive Offices) (Zip Code) Non-accelerated filer ☒ Smaller Reporting Company ☒ Emerging Growth Company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT O ...