secwatch.observer — SEC 8-K summary
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Issuer:     ARK RESTAURANTS CORP (ARKR)
CIK:        0000779544
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0000779544-24-000038
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ark Restaurants Q3 net income falls to $0.18/share; $2.5M impairment at Sequoia
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- Total revenues $50.4M, flat YoY; adjusted EBITDA $3.38M vs $4.66M prior year.
- Net income $640K ($0.18/diluted) vs $3.2M ($0.89) YoY; includes $2.5M impairment.
- Same-store sales excluding Gallagher's down 2.3% for Q3 2024.
- Impairment of $2.5M at Sequoia (D.C.) due to weak results; further charges possible.
- Cash $11.5M, debt $5.7M; balance sheet remains modest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/779544/000077954424000038/0000779544-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/779544/000077954424000038/arkr-20240812.htm
  HTML page:      https://secwatch.observer/filing/0000779544-24-000038

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