Financial Performance - Total revenues for the first quarter ended December 28, 2024, were 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 0.88 per share, compared to 0.38 per share, for the same period in 2023[5] - Adjusted EBITDA for the quarter was 2,572,000 in the prior year[5] - Operating income for the quarter was 1,603,000 in the same period last year[18] Cash and Debt Position - The company had cash and cash equivalents of 4,702,000 as of December 28, 2024[6] Impact of Closures - The closure of El Rio Grande resulted in a 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]
Ark Restaurants(ARKR) - 2025 Q1 - Quarterly Results