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 (NASDAQ: ARKR) is a restaurant and food service operator that owns and runs restaurants, bars, fast food concepts and catering operations in several U.S. markets. Company news releases describe operations in New York City, Florida, Washington, D.C., Las Vegas, Nevada, Atlantic City, New Jersey and the Gulf Coast of Alabama, including locations in casino resorts, park venues and waterfront destinations.
This news page for ARKR stock aggregates press releases and other coverage related to Ark Restaurants’ financial performance, operational updates and key events. Regular announcements include quarterly and annual financial results, discussions of Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) and "EBITDA, as adjusted," and commentary on how specific properties and markets are performing.
Investors following Ark Restaurants’ news can review updates on lease and legal matters, such as the company’s dispute with the Bryant Park Corporation over the Bryant Park Grill & Cafe and The Porch at Bryant Park leases in New York City. The company has reported that litigation and uncertainty around these leases have affected catering and a la carte revenue and have had a material impact on its business and results of operations.
News items also cover changes in the company’s portfolio, including the closure of El Rio Grande, the termination of the Tampa food court lease at the Hard Rock Hotel and Casino in Florida, impairment charges at the Sequoia property in Washington, D.C., goodwill impairment assessments and developments related to its investment in New Meadowlands Racetrack LLC. Earnings releases often highlight the performance of key venues such as the New York-New York Hotel & Casino Resort operations in Las Vegas, the Rustic Inn and other Florida properties, and the Original Oyster House locations in Alabama.
For readers tracking ARKR, this page provides a central view of Ark Restaurants’ financial updates, property-level commentary, credit facility amendments, dividend declarations when announced and other material events disclosed in company news.
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.
Summary not available.
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.
Summary not available.
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.
Summary not available.
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.
Summary not available.
Ark Restaurants Corp. (NASDAQ:ARKR) reported a net loss of ($4.7 million) or ($1.34) per share for the fiscal year ended October 3, 2020, compared to a net income of $2.7 million or $0.77 per share in the previous year. Total revenues fell to $106.5 million from $162.4 million, impacted significantly by COVID-19. EBITDA for the year was ($3.2 million), down from $12.3 million. The company has taken measures including salary reductions and furloughs, and expects continued financial strain due to pandemic-related operational disruptions.
Summary not available.