Ark Restaurants Corp. Files Q1 2025 10-Q

Ticker: ARKR · Form: 10-Q · Filed: Feb 11, 2025 · CIK: 779544

Sentiment: neutral

Topics: 10-Q, quarterly-filing, restaurants

TL;DR

ARK Restaurants filed their Q1 2025 10-Q. Financials look steady.

AI Summary

Ark Restaurants Corp. filed a 10-Q for the period ending December 28, 2024. The filing details financial performance for the first quarter of their fiscal year, which began on September 29, 2024. Key financial data and operational details are presented, reflecting the company's activities in the restaurant industry.

Why It Matters

This filing provides investors with an update on Ark Restaurants Corp.'s financial health and operational performance for the first quarter of fiscal year 2025, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate red flags.

Key Players & Entities

FAQ

What was the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing was for the period ending December 28, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on February 11, 2025.

What is the fiscal year end for Ark Restaurants Corp.?

The fiscal year end for Ark Restaurants Corp. is September 28.

What is the primary industry classification for Ark Restaurants Corp.?

The primary industry classification for Ark Restaurants Corp. is Retail-Eating Places [5812].

What is the company's business address?

The company's business address is 85 Fifth Avenue, New York, NY 10003-3019.

Filing Stats: 4,581 words · 18 min read · ~15 pages · Grade level 18.5 · Accepted 2025-02-11 16:06:05

Filing Documents

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 28, 2024 September 28, 2024 (unaudited) (Note 1) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 13,101 $ 10,273 Accounts receivable 4,267 3,516 Employee receivables 229 255 Inventories 2,166 2,289 Prepaid and refundable income taxes 209 294 Prepaid expenses and other current assets 1,210 1,598 Total current assets 21,182 18,225 FIXED ASSETS - Net 31,276 31,569 OPERATING LEASE RIGHT-OF-USE ASSETS - Net 81,302 84,977 GOODWILL 3,440 3,440 TRADEMARKS 4,220 4,220 INTANGIBLE ASSETS - Net 77 98 DEFERRED INCOME TAXES 4,411 4,799 INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK 6,562 6,550 OTHER ASSETS 2,170 2,163 TOTAL ASSETS $ 154,640 $ 156,041 LIABILITIES AND EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 4,755 $ 4,547 Accrued expenses and other current liabilities 9,570 12,045 Current portion of operating lease liabilities 6,419 7,099 Notes payable 4,702 5,193 Total current liabilities 25,446 28,884 OPERATING LEASE LIABILITIES, LESS CURRENT PORTION 80,653 83,516 TOTAL LIABILITIES 106,099 112,400 COMMITMENTS AND CONTINGENCIES EQUITY: Common stock, par value $ 0.01 per share - authorized, 10,000 shares; issued and outstanding, 3,604 shares at December 28, 2024 and September 28, 2024 36 36 Additional paid-in capital 13,976 13,934 Retained earnings 33,331 30,167 Total Ark Restaurants Corp. shareholders' equity 47,343 44,137 NON-CONTROLLING INTERESTS 1,198 ( 496 ) TOTAL EQUITY 48,541 43,641 TOTAL LIABILITIES AND EQUITY $ 154,640 $ 156,041 See notes to consolidated condensed financial statements. - 4 - ARK RESTAURANTS CORP. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) (In Thousands, Except Per Share Amounts) 13 Weeks Ended December 28, 2024 December 30, 2023 REVENUES: Food and beverage sales

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