secwatch.observer — SEC 8-K summary
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Issuer:     ARK RESTAURANTS CORP (ARKR)
CIK:        0000779544
Form:       8-K
Filed at:   2023-12-18T23:59:59+00:00
Accession:  0000779544-23-000040
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ark Restaurants reports Q4 net loss of $10.4M, records $10M goodwill impairment
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- Net loss Q4 $(10.4)M ($(2.88)/share) vs net income $0.8M ($0.21) last year; FY net loss $(5.9)M ($(1.65)/share).
- Total revenues Q4 fell 5.3% to $44.4M; same-store sales decreased 4.7%.
- Recorded $10M non-cash goodwill impairment due to stock price volatility and lease expirations at Bryant Park Grill & Cafe (Apr 2025).
- Adjusted EBITDA Q4 dropped to $585K from $2.35M YoY; FY adjusted EBITDA $9.3M vs $14.0M.
- Cash and equivalents $13.4M, total debt $7.2M as of Sep 30, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/779544/000077954423000040/0000779544-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/779544/000077954423000040/arkr-20231218.htm
  HTML page:      https://secwatch.observer/filing/0000779544-23-000040

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