ARK RESTAURANTS CORP Files 10-Q for Period Ending December 30, 2023
Ticker: ARKR · Form: 10-Q · Filed: Feb 13, 2024 · CIK: 779544
Complexity: simple
Sentiment: neutral
Topics: ARKR, 10-Q, Quarterly Report, Financials, Restaurant Industry
TL;DR
<b>ARK RESTAURANTS CORP filed its quarterly report (10-Q) for the period ending December 30, 2023.</b>
AI Summary
ARK RESTAURANTS CORP (ARKR) filed a Quarterly Report (10-Q) with the SEC on February 13, 2024. ARK RESTAURANTS CORP filed a 10-Q report for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 28. ARK RESTAURANTS CORP is incorporated in New York. The company operates in the 'RETAIL-EATING PLACES' industry (SIC 5812).
Why It Matters
For investors and stakeholders tracking ARK RESTAURANTS CORP, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position for the first quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's operational health, revenue streams, and any potential risks or opportunities.
Risk Assessment
Risk Level: low — ARK RESTAURANTS CORP shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would inherently increase risk.
Analyst Insight
Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational performance.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Food and Beverage | ||
| Other Revenue | ||
| Occupancy | ||
| Catering Services |
Key Numbers
- 20231230 — Period End Date (CONFORMED PERIOD OF REPORT)
- 20240213 — Filing Date (FILED AS OF DATE)
- 0928 — Fiscal Year End (FISCAL YEAR END)
- 5812 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
- NY — State of Incorporation (STATE OF INCORPORATION)
- 10-Q — Form Type (FORM TYPE)
- 2023-10-01 — Quarter Start Date (First Quarter of Fiscal Year 2024)
- 2023-12-30 — Quarter End Date (First Quarter of Fiscal Year 2024)
Key Players & Entities
- ARK RESTAURANTS CORP (company) — FILER
- 20231230 (date) — CONFORMED PERIOD OF REPORT
- 20240213 (date) — FILED AS OF DATE
- NY (location) — STATE OF INCORPORATION
- 5812 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
- 2122068800 (phone_number) — BUSINESS PHONE
- 10-Q (form_type) — FORM TYPE
- 1934 Act (regulation) — SEC ACT
Forward-Looking Statements
- ARK RESTAURANTS CORP will continue to narrow its net losses in the next fiscal quarter. (ARK RESTAURANTS CORP) — medium confidence, target: 2024-03-30
FAQ
When did ARK RESTAURANTS CORP file this 10-Q?
ARK RESTAURANTS CORP filed this Quarterly Report (10-Q) with the SEC on February 13, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by ARK RESTAURANTS CORP (ARKR).
Where can I read the original 10-Q filing from ARK RESTAURANTS CORP?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by ARK RESTAURANTS CORP.
What are the key takeaways from ARK RESTAURANTS CORP's 10-Q?
ARK RESTAURANTS CORP filed this 10-Q on February 13, 2024. Key takeaways: ARK RESTAURANTS CORP filed a 10-Q report for the period ending December 30, 2023.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on September 28..
Is ARK RESTAURANTS CORP a risky investment based on this filing?
Based on this 10-Q, ARK RESTAURANTS CORP presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new information that would inherently increase risk.
What should investors do after reading ARK RESTAURANTS CORP's 10-Q?
Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational performance. The overall sentiment from this filing is neutral.
Key Dates
- 2023-12-30: End of Reporting Period — Marks the end of the fiscal quarter for which the 10-Q report is filed.
Filing Stats: 4,627 words · 19 min read · ~15 pages · Grade level 19 · Accepted 2024-02-13 16:08:44
Filing Documents
- arkr-20231230.htm (10-Q) — 643KB
- q1-202410xqexhibit311.htm (EX-31.1) — 10KB
- q1-202410xqexhibit312.htm (EX-31.2) — 11KB
- q1-202410xqexhibit32.htm (EX-32) — 7KB
- 0000779544-24-000017.txt ( ) — 4687KB
- arkr-20231230.xsd (EX-101.SCH) — 42KB
- arkr-20231230_cal.xml (EX-101.CAL) — 66KB
- arkr-20231230_def.xml (EX-101.DEF) — 183KB
- arkr-20231230_lab.xml (EX-101.LAB) — 555KB
- arkr-20231230_pre.xml (EX-101.PRE) — 347KB
- arkr-20231230_htm.xml (XML) — 422KB
Financial Information
Part I. Financial Information
Consolidated Condensed Financial Statements
Item 1. Consolidated Condensed Financial Statements ARK RESTAURANTS CORP. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (In Thousands, Except Per Share Amounts) December 30, 2023 September 30, 2023 (unaudited) (Note 1) ASSETS CURRENT ASSETS: Cash and cash equivalents (includes $ 419 at December 30, 2023 and $ 564 at September 30, 2023 related to VIEs) $ 12,122 $ 13,415 Accounts receivable (includes $ 223 at December 30, 2023 and $ 169 at September 30, 2023 related to VIEs) 4,632 3,313 Employee receivables 306 328 Inventories (includes $ 49 at December 30, 2023 and $ 47 at September 30, 2023 related to VIEs) 2,972 3,093 Prepaid and refundable income taxes (includes $ 15 at December 30, 2023 and $ 204 at September 30, 2023 related to VIEs) 106 212 Prepaid expenses and other current assets (includes $ 17 at December 30, 2023 and $ 31 at September 30, 2023 related to VIEs) 1,262 1,569 Total current assets 21,400 21,930 FIXED ASSETS - Net (includes $ 204 at December 30, 2023 and $ 216 at September 30, 2023 related to VIEs) 33,523 34,314 OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $ 1,723 at December 30, 2023 and $ 1,796 at September 30, 2023 related to VIEs) 94,416 96,459 GOODWILL 7,440 7,440 TRADEMARKS 4,220 4,220 INTANGIBLE ASSETS - Net 162 187 DEFERRED INCOME TAXES 3,710 3,738 INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK 6,518 6,507 OTHER ASSETS (includes $ 11 at December 30, 2023 and September 30, 2023 related to VIEs) 2,161 2,161 TOTAL ASSETS $ 173,550 $ 176,956 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable - trade (includes $ 136 at December 30, 2023 and $ 93 at September 30, 2023 related to VIEs) $ 4,573 $ 4,058 Accrued expenses and other current liabilities (includes $ 265 at December 30, 2023 and $ 331 at September 30, 2023 related to VIEs) 11,766 13,829 Current portion of operating lease liabilities (includes $ 304 at December 30, 2023 and $ 298 at September 30, 2023 rel