Welcome to our dedicated page for Ark Restaurants news (Ticker: ARKR), a resource for investors and traders seeking the latest updates and insights on Ark Restaurants stock.
Ark Restaurants Corp. reports news about its restaurant, bar, fast food and catering operations across New York City, Washington, D.C., Las Vegas, Atlantic City, Florida and Alabama. Company updates commonly cover quarterly and annual results, same-store sales, EBITDA, cash and debt levels, and performance at properties such as New York-New York Hotel & Casino, Planet Hollywood Resort and Casino, Tropicana Atlantic City, Rustic Inn, Shuckers, JB’s on the Beach, Blue Moon Fish Company and Original Oyster House.
Recurring developments also include venue lease matters, portfolio changes, impairment charges, catering demand and operating trends in casino, resort and coastal restaurant markets. Bryant Park Grill & Café and related New York operations appear in updates tied to lease uncertainty, litigation expense and event-business performance.
Ark Restaurants Corp. (NASDAQ:ARKR) reported a substantial revenue increase in Q1 2022, generating $43,986,000, up from $20,299,000 in Q1 2021. This includes $1,982,000 from the Blue Moon Fish Company acquisition. The company posted an adjusted EBITDA of $3,946,000, a turnaround from a loss of $(2,370,000) a year prior. Net income stood at $2,209,000, or $0.62 per share, compared to a net loss of $(763,000) last year. However, ongoing COVID-19 uncertainties continue to pose risks to future operations.
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Ark Restaurants Corp. (NASDAQ:ARKR) announced its financial results for the fourth quarter and fiscal year ending October 2, 2021. Total revenues for the quarter surged to $42.8 million, up from $21.8 million in the prior year. For the fiscal year, revenues reached $131.9 million, compared to $106.5 million a year earlier. Adjusted EBITDA for the quarter was $5.2 million versus a loss of $1.8 million in 2020. Net income for Q4 was $6.8 million, or $1.93 per share, reclaiming from a net loss of $1.9 million in 2020. The company continues to navigate challenges posed by COVID-19.
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Ark Restaurants Corp. (NASDAQ:ARKR) reported Q3 2021 revenues of $42.97 million, a significant increase from $7.20 million in Q3 2020, boosted by the acquisition of Blue Moon Fish Company. Year-to-date revenue reached $89.03 million, up from $84.72 million during the same period last year. Same-store sales rose 455% compared to Q3 2020 but fell 7.1% versus Q3 2019. The company reported EBITDA of $9.39 million, including $3.19 million from PPP loan forgiveness. Net income was $2.67 million ($0.76 per share) compared to a net loss of $2.53 million in the prior year.
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Ark Restaurants Corp. (NASDAQ:ARKR) reported a decline in revenues for Q2 2021, totaling $25.77 million compared to $34 million in Q2 2020. The company experienced a net income of $4.16 million or $1.19 per share, benefiting from a $4.12 million PPP loan forgiveness. For the 26-week period, revenue was $46.07 million versus $77.52 million in the prior year. Challenges persist due to COVID-19 restrictions, though all properties have reopened at various capacities. The company acquired Blue Moon Fish Company in December 2020, expanding its portfolio.
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Ark Restaurants Corp. (NASDAQ:ARKR) reported Q1 financial results for the period ending January 2, 2021, showing total revenues of $20.3 million, down from $43.5 million in Q1 2019. The net loss amounted to ($763,000) or ($0.22) per share, contrasting with a net income of $1.5 million or $0.43 per share in the same period of 2019. The pandemic has severely impacted operations, especially in New York City and Washington, D.C., leading to temporary closures and reduced capacity. A working capital deficiency of ($1.56 million) was reported.
Management anticipates existing cash and federal relief programs will suffice for the next 12 months.
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