Welcome to our dedicated page for Ark Restaurants news (Ticker: ARKR), a resource for investors and traders seeking the latest updates and insights on Ark Restaurants stock.
Ark Restaurants Corp (ARKR) is a prominent player in the hospitality industry, known for its ownership and operation of diverse dining establishments across the United States. The company runs 20 restaurants and bars, 21 fast food concepts, and several catering operations, with key locations in New York City, Florida, Washington, D.C., and Las Vegas, NV. The company's portfolio includes five restaurants in New York City, three in Washington, D.C., six in Las Vegas, NV, three in Atlantic City, NJ, one at the Foxwoods Resort Casino in Connecticut, one in Boston, MA, and one in Dania Beach, FL.
In Las Vegas, Ark Restaurants is particularly notable for its operations within the New York-New York Hotel & Casino Resort. This includes four restaurants, the hotel's room service, banquet facilities, an employee dining room, and six food court concepts. Additionally, the company runs a bar within the Venetian Casino Resort and two food court concepts and one restaurant at the Planet Hollywood Resort and Casino.
In Atlantic City, NJ, Ark Restaurants operates a restaurant and a bar in the Resorts Atlantic City Hotel and Casino and another restaurant in the Tropicana Hotel and Casino. In Florida, the company owns The Rustic Inn in Dania Beach, Shuckers in Jensen Beach, JB's on the Beach in Deerfield Beach, and The Blue Moon Fish Company in Fort Lauderdale, along with fast food facilities in Tampa and Hollywood.
Expanding beyond these regions, Ark Restaurants also manages the Original Oyster Houses in Gulf Shores and Spanish Fort, Alabama. This diversity in location and concept allows the company to cater to a wide range of customers and preferences, thereby solidifying its presence in the competitive hospitality market.
Financially, Ark Restaurants Corp has shown resilience and adaptability, continuously exploring new opportunities to enhance its portfolio. The company's focus on high-quality service, unique dining experiences, and strategic locations has been key to its sustained growth and success. Recent developments and updates on their financial performance can be followed through their latest news releases.
Ark Restaurants Corp. (NASDAQ:ARKR) reported Q4 and FY 2022 results, with revenues reaching $46.88 million for the quarter, up from $42.84 million in Q4 2021, and $183.67 million for the year, an increase from $131.87 million in FY 2021. However, net income fell to $0.21 per share from $1.93 in Q4 2021, and FY net income was $2.61 per share compared to $3.67 in FY 2021. The company faced challenges due to inflation and COVID-19 impacts. As of October 1, 2022, cash and equivalents stood at $23.44 million, with total debt of $23.73 million.
Ark Restaurants Corp. (NASDAQ: ARKR) declared a cash dividend of $0.125 per share, scheduled for payment on December 13, 2022. Shareholders of record must hold their shares by the close of business on November 30, 2022. The Board retains discretion over future dividends, reflecting the company's operational performance and other factors.
Ark Restaurants Corp. (NASDAQ:ARKR) reported strong Q3 2022 results, with total revenues increasing to $53.2 million from $43 million YoY. For the first 39 weeks, revenues surged to $136.8 million compared to $89 million the previous year. The revenue growth was driven by increased customer traffic in Las Vegas and strong event business in New York and D.C. Net income for Q3 was $5.3 million, or $1.48 per share, significantly up from $2.7 million or $0.76 last year. A quarterly cash dividend of $0.125 per share was declared, payable in September 2022.
Ark Restaurants Corp. (NASDAQ:ARKR) reported financial results for Q2 2022, showcasing revenue growth to $39.6 million, up from $25.8 million in Q2 2021. For the first half of 2022, revenues reached $83.6 million, compared to $46.1 million in the same period last year. The company achieved a net income of $1 million in Q2 2022, down from $4.2 million in Q2 2021, and adjusted EBITDA improved to $1.5 million from a loss of $0.5 million. A quarterly dividend of $0.125 per share was announced, to be paid on June 13, 2022. However, uncertainties remain due to the COVID-19 pandemic.
Ark Restaurants Corp. (NASDAQ:ARKR) reported a substantial revenue increase in Q1 2022, generating $43,986,000, up from $20,299,000 in Q1 2021. This includes $1,982,000 from the Blue Moon Fish Company acquisition. The company posted an adjusted EBITDA of $3,946,000, a turnaround from a loss of $(2,370,000) a year prior. Net income stood at $2,209,000, or $0.62 per share, compared to a net loss of $(763,000) last year. However, ongoing COVID-19 uncertainties continue to pose risks to future operations.
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