Ark Restaurants Q1 revenue up 8% but net income falls 22%; dividend steady

ARK RESTAURANTS CORP

2023-Q1 EPS reported $0.47 revenue$47,445,000

Revenue $47.4M (+7.9% YoY) on higher traffic, menu prices in Las Vegas, NYC, DC.
Net income $1.7M ($0.48/sh) vs $2.2M ($0.62/sh) prior year; adjusted EBITDA $3.0M vs $3.9M.
Florida segment revenue fell 9.2%; operating costs pressured by inflation.
Quarterly dividend $0.125/sh declared, payable Mar 14, 2023 to holders of record Feb 28.
Cash $19.4M, debt $21.7M; PPP loan forgiveness added $272K to net income.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ARK RESTAURANTS CORP reported first quarter ended December 31, 2022 results: revenue $47,445,000, net income $1,725,000.

Period: first quarter ended December 31, 2022
Revenue: $47,445,000
Net income: $1,725,000
Result: reported results

Exact text from the filing

Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the first quarter ended December 31, 2022. Financial Results Total revenues for the 13 weeks ended December 31, 2022 were $47,445,000

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Source: SEC EDGAR

accession 0000779544-23-000009

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