ARK Restaurants Corp. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>ARK Restaurants Corp. filed its quarterly report (10-Q) for the period ending March 30, 2024, detailing financial performance and operational status.</b>

AI Summary

ARK RESTAURANTS CORP (ARKR) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. ARK Restaurants Corp. filed a 10-Q report for the period ending March 30, 2024. The filing covers the fiscal period from October 1, 2023, to March 30, 2024. The company's fiscal year ends on September 28. ARK Restaurants Corp. is incorporated in New York. The company's SIC code is 5812 for Retail-Eating Places.

Why It Matters

For investors and stakeholders tracking ARK RESTAURANTS CORP, this filing contains several important signals. This filing provides investors with an update on ARK Restaurants Corp.'s financial health and operational performance for the most recent quarter. Understanding the details within this 10-Q is crucial for assessing the company's current business trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — ARK RESTAURANTS CORP shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, indicating a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational costs for ARK Restaurants Corp.

Key Numbers

• 2024-03-30 — Period End Date (Conformed Period of Report)
• 2024-05-14 — Filing Date (Filed as of date)
• 0928 — Fiscal Year End (Fiscal Year End)
• NY — State of Incorporation (State of Incorporation)
• 5812 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• ARK RESTAURANTS CORP (company) — Filer name
• 2024-03-30 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• NY (location) — State of incorporation
• 5812 (other) — Standard Industrial Classification
• 2122068800 (phone) — Business phone

FAQ

Industry Context

ARK Restaurants Corp. operates within the restaurant industry, specifically classified under Retail-Eating Places (SIC 5812). This sector is characterized by consumer spending on dining out.

Regulatory Implications

As a publicly traded company, ARK Restaurants Corp. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Analyze the revenue and expense details for the quarter ending March 30, 2024.
2. Examine any disclosed changes in assets, liabilities, and equity.
3. Review the company's business description and any updates to its operations.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending March 30, 2024. Previous filings would need to be compared for specific year-over-year changes.

Filing Documents

• arkr-20240330.htm (10-Q) — 858KB
• q2-202410xqexhibit311.htm (EX-31.1) — 10KB
• q2-202410xqexhibit312.htm (EX-31.2) — 11KB
• q2-202410xqexhibit32.htm (EX-32) — 7KB
• 0000779544-24-000033.txt (&nbsp;) — 4986KB
• arkr-20240330.xsd (EX-101.SCH) — 43KB
• arkr-20240330_cal.xml (EX-101.CAL) — 65KB
• arkr-20240330_def.xml (EX-101.DEF) — 163KB
• arkr-20240330_lab.xml (EX-101.LAB) — 517KB
• arkr-20240330_pre.xml (EX-101.PRE) — 351KB
• arkr-20240330_htm.xml (XML) — 488KB

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) March 30, 2024 September 30, 2023 (unaudited) (Note 1) ASSETS CURRENT ASSETS: Cash and cash equivalents (includes $ 154 at March 30, 2024 and $ 564 at September 30, 2023 related to VIEs) $ 10,412 $ 13,415 Accounts receivable (includes $ 242 at March 30, 2024 and $ 169 at September 30, 2023 related to VIEs) 4,042 3,313 Employee receivables 292 328 Inventories (includes $ 42 at March 30, 2024 and $ 47 at September 30, 2023 related to VIEs) 2,362 3,093 Prepaid and refundable income taxes (includes $ 16 at March 30, 2024 and $ 204 at September 30, 2023 related to VIEs) 247 212 Prepaid expenses and other current assets (includes $ 39 at March 30, 2024 and $ 31 at September 30, 2023 related to VIEs) 2,648 1,569 Total current assets 20,003 21,930 FIXED ASSETS - Net (includes $ 253 at March 30, 2024 and $ 216 at September 30, 2023 related to VIEs) 32,843 34,314 OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $ 1,650 at March 30, 2024 and $ 1,796 at September 30, 2023 related to VIEs) 92,331 96,459 GOODWILL 7,440 7,440 TRADEMARKS 4,220 4,220 INTANGIBLE ASSETS - Net 141 187 DEFERRED INCOME TAXES 3,884 3,738 INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK 6,528 6,507 OTHER ASSETS (includes $ 11 at March 30, 2024 and September 30, 2023 related to VIEs) 2,161 2,161 TOTAL ASSETS $ 169,551 $ 176,956 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable - trade (includes $ 138 at March 30, 2024 and $ 93 at September 30, 2023 related to VIEs) $ 4,538 $ 4,058 Accrued expenses and other current liabilities (includes $ 237 at March 30, 2024 and $ 331 at September 30, 2023 related to VIEs) 12,468 13,829 Current portion of operating lease liabilities (includes $ 311 at March 30, 2024 and $ 298 at September 30, 2023 related to VIEs) 8,079 7,988 Current

View Full Filing

View this 10-Q filing on SEC EDGAR