ARK RESTAURANTS CORP. (NASDAQ:ARKR) Files An 8-K Results of Operations and Financial Condition
Results of Operations and Financial
On February 10, 2017, ARK Restaurants Corp. (the Company) issued
a press release announcing financial results for the first fiscal
quarter ended December 31, 2016. A copy of the press release
titled Ark Restaurants Announces Financial Results for the First
Quarter of 2017 is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
The press release contains certain non-GAAP
Disclosures-Continuing Operations EBITDA-Earnings before
interest, taxes, depreciation and amortization adjusted for
non-cash stock option expense and non-controlling interests.
Although EBITDA is not a measure of performance or liquidity
calculated in accordance with generally accepted accounting
principles (GAAP), the Company believes the use of this non-GAAP
financial measure enhances an overall understanding of the
Companys past financial performance, as well as providing useful
information to the investor because of its historical use by the
Company as both a performance measure and measure of liquidity,
and the use of EBITDA by virtually all companies in the
restaurant sector as a measure of both performance and liquidity.
This information is intended to be furnished under this Item 2.02
of Form 8-K and shall not be deemed filed for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the
Exchange Act), or incorporated by reference in any filing under
the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in
such a filing.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press Release, dated February 10, 2017|
| – |
About ARK RESTAURANTS CORP. (NASDAQ:ARKR)
Ark Restaurants Corp. owns and operates approximately 20 restaurants and bars, over 20 fast food concepts and catering operations. The Company operates approximately six small food court restaurants and over one service restaurant in the Village Eateries food court at the New York-New York Hotel & Casino. It also operates the hotel’s room service, banquet facilities and employee cafeteria. It operates approximately six restaurants in New York City; approximately three in Washington, District of Columbia; over six in Las Vegas, Nevada; approximately three in Atlantic City, New Jersey; over one at the Foxwoods Resort Casino in Ledyard, Connecticut; approximately one in Boston, Massachusetts, and over two in Florida. Its restaurants include Center Cafe, Sequoia, Canyon Road, Bryant Park Grill & Cafe, Gallagher’s Steakhouse, Gonzalez y Gonzalez, Village Eateries, Robert, Thunder Grill, Gallagher’s Burger Bar, Broadway Burger Bar and Grill, The Rustic Inn and Southwest Porch. ARK RESTAURANTS CORP. (NASDAQ:ARKR) Recent Trading Information
ARK RESTAURANTS CORP. (NASDAQ:ARKR) closed its last trading session up +0.30 at 23.01 with 4,097 shares trading hands.