Ark Restaurants(ARKR) - 2026 Q1 - Quarterly Results

Financial Performance - Total revenues for the 13 weeks ended December 27, 2025, were $40,749,000, a decrease from $44,988,000 for the same period in 2024, reflecting a decline of approximately 5.5%[5] - EBITDA, as adjusted, for the current quarter was $1,529,000, an increase of about $150,000 compared to $1,378,000 in the prior year comparable quarter[3] - Net income attributable to Ark Restaurants Corp. for the current quarter was $896,000, or $0.25 per share, down from $3,164,000, or $0.88 per share, in the prior year[7] Sales Performance - Same store sales decreased by 7.3% for the 13 weeks ended December 27, 2025, primarily due to declines in catering and a la carte revenue at the Bryant Park Grill[6] - The Bryant Park Grill & Café and The Porch at Bryant Park accounted for approximately 19.5% and 22.3% of total revenue for the current and prior year quarters, respectively[11] Financial Position - The company had cash and cash equivalents of $9,139,000 and total outstanding debt of $2,987,000 as of December 27, 2025[4] Legal and Operational Issues - The ongoing lease dispute for the Bryant Park Grill & Café is expected to have a material adverse effect on the company's business and financial condition[11] - The company is pursuing legal action regarding the lease award process for the Bryant Park locations, which remains unresolved[10] Business Operations - Ark Restaurants operates 16 restaurants and bars across multiple locations, including New York City, Florida, Washington, D.C., and Las Vegas[18] Future Prospects - The New Meadowlands Racetrack is seeking a full casino license, which could significantly impact future revenue if successful[12]