Financial Performance - Total revenues for the 13 weeks ended March 29, 2025, were $39,725,000, a decrease of 5.4% compared to $42,257,000 for the same period in 2024[4] - Total revenues for the 26 weeks ended March 29, 2025, were $84,714,000, down from $89,743,000 for the same period in 2024[5] - Consolidated net loss attributable to Ark Restaurants Corp. for the 13 weeks ended March 29, 2025, was $(9,258,000), compared to a net loss of $(1,449,000) for the same period in 2024[20] - The net loss attributable to Ark Restaurants Corp. for the 26 weeks ended March 29, 2025, was $(6,094,000) or $(1.69) per share, compared to a net loss of $(79,000) or $(0.02) per share for the same period in 2024[7] - Basic and diluted net loss per common share for the 13 weeks ended March 29, 2025, was $(2.57), compared to $(0.40) for the same period in 2024[20] Operating Results - The Company's adjusted EBITDA for the 13 weeks ended March 29, 2025, was $(691,000), compared to $(321,000) for the same period in 2024[6] - EBITDA for the 13 weeks ended March 29, 2025, was $(3,916,000), compared to $(145,000) for the same period in 2024[20] - Operating loss for the 13 weeks ended March 29, 2025, was $(4,617,000), compared to an operating loss of $(1,202,000) for the same period in 2024[20] - Total costs and expenses for the 13 weeks ended March 29, 2025, were $44,342,000, an increase of 2.0% from $43,459,000 in the same period in 2024[20] Revenue Sources - The Bryant Park Grill & Cafe and The Porch at Bryant Park collectively accounted for $12.7 million and $13.6 million of total revenues for the 26 weeks ended March 28, 2025, and March 29, 2024, respectively, representing approximately 15.0% and 15.1% of total revenue[13] Legal and Financial Position - The Company is pursuing legal action regarding lease agreements for Bryant Park properties, which could materially affect its business and financial condition[11] - The Company had cash and cash equivalents of $11,124,000 and total outstanding debt of $4,280,000 as of March 29, 2025[3] Special Items - The Company recognized a gain of $5,235,000 from the termination of the Tampa Food Court lease during the 13 weeks ended December 28, 2024[9] - The company reported a gain on termination of the Tampa Food Court lease of $(5,235,000) for the 26 weeks ended March 29, 2025[20] - Goodwill impairment of $3,440,000 was recorded for the 13 weeks ended March 29, 2025[20] Sales Performance - Company-wide same store sales increased by 0.4% for the 13 weeks ended March 29, 2025, but decreased by 1.0% for the 26 weeks ended March 29, 2025, compared to the prior year[4] - Total revenues for the 13 weeks ended March 29, 2025, were $39,725,000, a decrease of 5.5% compared to $42,257,000 for the same period in 2024[20] - Net loss attributable to non-controlling interests for the 13 weeks ended March 29, 2025, was $(114,000), compared to $(244,000) for the same period in 2024[20] - Weighted average number of common shares outstanding for the 13 weeks ended March 29, 2025, was 3,605,000, unchanged from the same period in 2024[20]
Ark Restaurants(ARKR) - 2025 Q2 - Quarterly Results