Drmicrocap
8 years ago
Nathan's Famous, Inc. Reports Third Quarter Results; Authorizes Increase In Share Buy-back Plan
PR Newswire Nathan's Famous, Inc.
February 5, 2016 8:30 AM
????
JERICHO, N.Y., Feb. 5, 2016 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the third quarter of its 2016 fiscal year that ended December 27, 2015.
For the fiscal quarter ended December 27, 2015:
Income from operations increased by 17.8% to $4,435,000, as compared to $3,765,000 during the thirteen weeks ended December 28, 2014;
Adjusted EBITDA, as subsequently defined, increased by 12.6% to $4,932,000 as compared to $4,382,000 for the thirteen weeks ended December 28, 2014;
Net income was $432,000, as compared to $2,241,000 for the thirteen weeks ended December 28, 2014;
Earnings per diluted share were $0.10 per share, as compared to $0.49 per share for the thirteen weeks ended December 28, 2014; and
Revenues were $20,564,000, as compared to $22,315,000 during the thirteen weeks ended December 28, 2014.
For the thirty-nine weeks ended December 27, 2015:
Income from operations increased by 20.5% to $20,477,000, as compared to $16,991,000 during the thirty-nine weeks ended December 28, 2014;
Adjusted EBITDA, as subsequently defined, increased by 17.2% to $22,189,000 as compared to $18,936,000 for the thirty-nine weeks ended December 28, 2014;
Net income was $5,589,000, as compared to $10,166,000 for the thirty-nine weeks ended December 28, 2014;
Earnings per diluted share were $1.24 per share, as compared to $2.21 per share for the thirty-nine weeks ended December 28, 2014; and
Revenues were $81,837,000, as compared to $78,772,000 during the thirty-nine weeks ended December 28, 2014.
The Company reported the following:
License royalties increased by 12.8% to $15,406,000 during the thirty-nine weeks ended December 27, 2015, as compared to $13,652,000 during the thirty-nine weeks ended December 28, 2014. During the thirty-nine weeks ended December 27, 2015, total royalties earned under the John Morrell & Co., agreement increased by 14.2% to $14,091,000 as compared to $12,342,000 of royalties earned during the thirty-nine weeks ended December 28, 2014. The increase is substantially attributable to significant organic growth in our consumer packaged hot dog business as a result of more effective sales, marketing and promotional strategies.
Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 3.5% to $47,160,000 during the thirty-nine weeks ended December 27, 2015, as compared to sales of $45,568,000 during the thirty-nine weeks ended December 28, 2014. This increase was primarily attributable to a 5.1% increase in the volume of products sold partially offset by lower average selling prices on the portion of our business where the selling price is calculated based upon the market price for beef, which has significantly declined during the past six months.
Sales from Company-operated restaurants were $14,872,000 during the thirty-nine weeks ended December 27, 2015 as compared to $14,497,000 during the thirty-nine weeks ended December 28, 2014 driven primarily from higher sales at both Coney Island locations.
Revenues from franchise operations were $3,804,000 during the thirty-nine weeks ended December 27, 2015, as compared to $4,473,000 during the thirty-nine weeks ended December 28, 2014. Total franchise fee income was $388,000 during the thirty-nine weeks ended December 27, 2015 as compared to $879,000 during the thirty-nine weeks ended December 28, 2014, primarily due to less international development fees. Thirty-five new franchised units were opened during the thirty-nine weeks ended December 27, 2015, including 11 international locations, including locations in Russia and Costa Rica, and 16 Branded Menu Program outlets. Twenty-eight new franchised units were opened during the thirty-nine weeks ended December 28, 2014, including 10 international locations, including our first locations in Costa Rica and Malaysia and 14 Branded Menu Program outlets. We also recognized forfeited fees of $58,000 during the fiscal 2016 period and $120,000 during the fiscal 2015 period.
On March 10, 2015, Nathan's completed a financing of $135.0 million aggregate principal amount of Senior Secured Notes. Nathan's incurred interest expense, including amortized debt issuance costs, totaling $11,126,000 during the thirty-nine weeks ended December 27, 2015 on the Notes.
Nathan's also announced that its Board of Directors has authorized the purchase by Nathan's of up to an additional 200,000 shares of its common stock. Purchases may be made from time to time, depending on market conditions, in open market or privately negotiated transactions, at prices deemed appropriate by management. There is no set time limit on the repurchases. After giving effect to the increase in the number of shares, an aggregate 266,074 shares remain available for purchase under Nathan's stock buy-back program. To date, pursuant to prior share repurchase programs authorized by the Board of Directors, Nathan's has purchased a total of 4,921,557 shares of common stock at a cost of approximately $68,070,000.
Certain Non-GAAP Financial Information:
In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company has provided EBITDA excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company has also provided Adjusted EBITDA excluding (i) stock-based compensation and (ii) amortization of bond premium on the Company's available-for sale investments that the Company believes will impact the comparability of its results of operations.
The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure.
EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP.
About Nathan's Famous
Nathan's currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and nine foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 500 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the impact on the supply of cattle), and change in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co.; the ability to attract franchisees; the impact of the new minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a "joint employee" or the impact of our new union contract; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
Thirty-nine weeks ended
Dec. 27, 2015
Dec. 28, 2014
Dec. 27, 2015
Dec. 28, 2014
(unaudited)
(unaudited)
Total revenues
$ 20,564,000
$ 22,315,000
$ 81,837,000
$ 78,772,000
Income from operations (a)
$ 4,435,000
$ 3,765,000
$ 20,477,000
$ 16,991,000
Net income
$ 432,000
$ 2,241,000
$ 5,589,000
$ 10,166,000
Income per share:
Basic
$ 0.10
$ 0.50
$ 1.25
$ 2.27
Diluted
$ 0.10
$ 0.49
$ 1.24
$ 2.21
Weighted-average shares used in
computing income per share:
Basic
4,408,000
4,482,000
4,474,000
4,475,000
Diluted
4,444,000
4,603,000
4,504,000
4,596,000
(a)
Excludes interest expense, interest income, and other income, net.
Nathan's Famous, Inc. and Subsidiaries
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Thirteen weeks ended
Thirty-nine weeks ended
Dec. 27, 2015
Dec. 28, 2014
Dec. 27, 2015
Dec. 28, 2014
(unaudited)
(unaudited)
EBITDA
Net Income
$ 432,000
$ 2,241,000
$ 5,589,000
$ 10,166,000
Interest Expense
3,708,000
-0-
11,126,000
-0-
Provision for income taxes
316,000
1,562,000
3,886,000
7,027,000
Depreciation and amortization
303,000
298,000
975,000
985,000
EBITDA
$ 4,759,000
$ 4,101,000
$ 21,576,000
$ 18,178,000
Adjusted EBITDA
EBITDA
$ 4,759,000
$ 4,101,000
$ 21,576,000
$ 18,178,000
Stock-based compensation
173,000
228,000
549,000
629,000
Amortization of bond premium (b)
-0-
53,000
64,000
129,000
Adjusted EBITDA
$ 4,932,000
$ 4,382,000
$ 22,189,000
$ 18,936,000
(b)
Represents the premiums paid on our purchase of available-for-sale securities.
FOR: NATHAN'S FAMOUS, INC.
COMPANY Ronald G. DeVos, Vice President - Finance and CFO
CONTACT: (516) 338-8500 ext. 229
Drmicrocap
8 years ago
Nathan's Famous, Inc. Reports Second Quarter Results
PR Newswire
Nathan's Famous, Inc.
November 4, 2015 8:30 AM
JERICHO, N.Y., Nov. 4, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the second quarter of its 2016 fiscal year that ended September 27, 2015.
For the fiscal quarter ended September 27, 2015:
•Income from operations increased by 30.7% to $8,426,000, as compared to $6,447,000 during the thirteen weeks ended September 28, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 26.7 % to $9,006,000 as compared to $7,106,000 for the thirteen weeks ended September 28, 2014;
•Net income was $2,847,000, as compared to $3,854,000 for the thirteen weeks ended September 28, 2014;
•Earnings per diluted share were $0.64 per share, as compared to $0.84 per share for the thirteen weeks ended September 28, 2014; and
•Revenues increased by 6.1% to $30,619,000, as compared to $28,872,000 during the thirteen weeks ended September 28, 2014.
For the twenty-six weeks ended September 27, 2015:
•Income from operations increased by 21.3% to $16,042,000, as compared to $13,226,000 during the twenty-six weeks ended September 28, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 18.6% to $17,257,000 as compared to $14,553,000 for the twenty-six weeks ended September 28, 2014;
•Net income was $5,157,000, as compared to $7,925,000 for the twenty-six weeks ended September 28, 2014;
•Earnings per diluted share were $1.14 per share, as compared to $1.73 per share for the twenty-six weeks ended September 28, 2014; and
•Revenues increased by 8.5% to $61,273,000, as compared to $56,457,000 during the twenty-six weeks ended September 28, 2014.
The Company reported the following:
•License royalties increased by 16.7% to $11,792,000 during the twenty-six weeks ended September 27, 2015, as compared to $10,106,000 during the twenty-six weeks ended September 28, 2014. During the twenty-six weeks ended September 27, 2015, total royalties earned under the John Morrell & Co., agreement increased by 18.6% to $10,932,000 as compared to $9,217,000 of royalties earned during the twenty-six weeks ended September 28, 2014. The increase is substantially attributable to significant organic growth in our consumer packaged hot dog business as a result of more effective sales, marketing and promotional strategies.
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 9.7% to $33,595,000 during the twenty-six weeks ended September 27, 2015, as compared to sales of $30,612,000 during the twenty-six weeks ended September 28, 2014.
•Sales from the Company-operated restaurants were $12,842,000 during the twenty-six weeks ended September 27, 2015 as compared to $12,349,000 during the twenty-six weeks ended September 28, 2014 driven primarily from higher sales at both Coney Island locations.
•Revenues from franchise operations were $2,617,000 during the twenty-six weeks ended September 27, 2015, as compared to $3,002,000 during the twenty-six weeks ended September 28, 2014. Total franchise fee income was $207,000 during the twenty-six weeks ended September 27, 2015 as compared to $477,000 during the twenty-six weeks ended September 28, 2014, primarily due to lower international development fees. Twenty-three new franchised units were opened during the twenty-six weeks ended September 27, 2015, including 11 Branded Menu Program outlets. Twenty new franchised units were opened during the twenty-six weeks ended September 28, 2014, including seven international locations, including our first location in Costa Rica and ten Branded Menu Program outlets.
•On March 10, 2015, Nathan's completed a financing of $135.0 million aggregate principal amount of Senior Secured Notes. Nathan's incurred interest expense, including amortized debt issuance costs, totaling $7,418,000 during the twenty-six weeks ended September 27, 2015 on the Notes.
Certain Non-GAAP Financial Information:
In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company has provided EBITDA excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company has also provided Adjusted EBITDA excluding (i) stock-based compensation and (ii) amortization of bond premium on the Company's available-for sale investments that the Company believes will impact the comparability of its results of operations.
The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure.
EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income (loss) or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP.
About Nathan's Famous
Nathan's currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and nine foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 500 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co.; the ability to continue to attract franchisees; no material increases in the minimum wage or other changes in labor laws; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
COMPANY Ronald G. DeVos, Vice President - Finance and CFO
CONTACT: (516) 338-8500 ext. 229
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
Twenty-six weeks ended
Sept. 27, 2015
Sept. 28, 2014
Sept. 27, 2015
Sept. 28, 2014
(unaudited)
(unaudited)
Total revenues
$ 30,619,000
$ 28,872,000
$ 61,273,000
$ 56,457,000
Income from operations (a)
$ 8,426,000
$ 6,447,000
$ 16,042,000
$ 13,226,000
Net income
$ 2,847,000
$ 3,854,000
$ 5,157,000
$ 7,925,000
Income per share:
Basic
$ 0.64
$ 0.86
$ 1.14
$ 1.77
Diluted
$ 0.64
$ 0.84
$ 1.14
$ 1.73
Weighted-average shares used in
computing income per share:
Basic
4,432,000
4,472,000
4,508,000
4,472,000
Diluted
4,449,000
4,593,000
4,535,000
4,593,000
(a) Excludes interest expense, interest income, and other income, net.
Nathan's Famous, Inc. and Subsidiaries
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Thirteen weeks ended
Twenty-six weeks ended
Sept. 27, 2015
Sept. 28, 2014
Sept. 27, 2015
Sept. 28, 2014
(unaudited)
(unaudited)
EBITDA
Net Income
$ 2,847,000
$ 3,854,000
$ 5,157,000
$ 7,925,000
Interest Expense
3,709,000
0
7,418,000
0
Provision for income taxes
1,942,000
2,674,000
3,570,000
5,465,000
Depreciation and amortization
333,000
341,000
672,000
687,000
EBITDA
$ 8,831,000
$ 6,869,000
$ 16,817,000
$ 14,077,000
Adjusted EBITDA
EBITDA
$ 8,831,000
$ 6,869,000
$ 16,817,000
$ 14,077,000
Stock-based compensation
173,000
210,000
376,000
401,000
Amortization of bond premium (b)
2,000
27,000
64,000
75,000
Adjusted EBITDA
$ 9,006,000
$ 7,106,000
$ 17,257,000
$ 14,553,000
(b) Represents the premiums paid on our purchase of available-for-sale securities.
stocktrademan
9 years ago
$NATH recent news/filings
bullish
## source: finance.yahoo.com
Fri, 11 Sep 2015 21:01:35 GMT ~ NATHANS FAMOUS INC Files SEC form 8-K, Other Events, Financial Statements and Exhibits
read full: http://biz.yahoo.com/e/150911/nath8-k.html
*********************************************************
Fri, 11 Sep 2015 20:30:00 GMT ~ Nathan's Famous to Commence Dutch Auction Tender Offer to Repurchase up to 500,000 Shares of its Outstanding Common Stock
[PR Newswire] - JERICHO, N.Y., Sept. 11, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (the "Company") (NATH) today announced that it will commence mailing to its stockholders on or about September 18, 2015 a modified Dutch Auction tender offer to purchase for cash up to 500,000 shares of its common stock, $.01 par value, at a price per share of not less than $33.00 nor greater than $36.00, for a maximum aggregate purchase price of $18,000,000. The closing price of the Company's common stock as reported by the NASDAQ Global Select Market was $32.86 on September 10, 2015. The tender offer will commence on or about September 18, 2015, and the Company expects the tender offer will expire at 12:00 Midnight, Eastern Time, on or about October 16, 2015 unless extended or withdrawn. The Company intends to fund this tender offer with cash on hand. At June 28, 2015, the Company had approximately $51.6 million of cash and cash equivalents and approximately $7.8 million of marketable securities.
read full: http://finance.yahoo.com/news/nathans-famous-commence-dutch-auction-203000697.html
*********************************************************
Thu, 10 Sep 2015 20:46:43 GMT ~ NATHANS FAMOUS INC Files SEC form 8-K, Submission of Matters to a Vote of Security Holders
read full: http://biz.yahoo.com/e/150910/nath8-k.html
*********************************************************
Tue, 08 Sep 2015 17:44:51 GMT ~ Nathan’s Famous, Inc. Earnings Q1, 2015
read full: http://www.capitalcube.com/blog/index.php/nathans-famous-inc-earnings-q1-2015/
*********************************************************
Thu, 20 Aug 2015 17:04:14 GMT ~ NATHANS FAMOUS INC Financials
read full: http://finance.yahoo.com/q/is?s=nath
*********************************************************
$NATH charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$NATH company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/NATH/company-info
Ticker: $NATH
OTC Market Place: Not Available
CIK code: 0000069733
Company name: Nathan's Famous, Inc.
Incorporated In: DE, USA
Business Description: OTC Markets | Official site of the OTCQX, OTCQB and OTC Pink Marketplaces featuring Free Stock & Bond Quotes, Trade Prices, Chart, Financials and Company News & Information for Investors, Companies and Traders - OTCMarkets.com (window.NREUM||(NREUM={})).loader_config={xpid:"UwMGWVdSGwQIU1RQAgQ="};window.NREUM||(NREUM={}),__nr_require=function(t,e,n){function r(n){if(!e[n]){var o=e[n]={exports:{}};t[n][0].call(o.exports,function(e){var o=t[n][1][e];return r(o?o:e)},o,o.exports)}return e[n].exports}if("function"==typeof __nr_require)return __nr_require;for(var o=0;od;d++)c[d].apply(u,n);return u}function a(t,e){f[t]=s(t).concat(e)}function s(t){return f[t]||[]}function c(){return n(e)}var f={};return{on:a,emit:e,create:c,listeners:s,_events:f}}function r(){return{}}var o="nr@context",i=t("gos");e.exports=n()},{gos:"7eSDFh"}],ee:[function(t,e){e.exports=t("QJf3ax")},{}],3:[function(t){function e(t){try{i.console&&console.log(t)}catch(e){}}var 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$NATH share structure
## source: otcmarkets.com
Market Value: $148,112,384 a/o Sep 11, 2015
Shares Outstanding: 4,430,523 a/o Aug 05, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$NATH extra dd links
Company name: Nathan's Famous, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/NATH/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/NATH/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=NATH+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=NATH+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=NATH+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/NATH/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/news - http://finance.yahoo.com/q/h?s=NATH+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/NATH/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/NATH/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/NATH/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/NATH/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/NATH/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/NATH/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/NATH/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=NATH+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/NATH
DTCC (dtcc.com): http://search2.dtcc.com/?q=Nathan%27s+Famous%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Nathan%27s+Famous%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Nathan%27s+Famous%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/NATH/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/NATH
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/NATH/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/NATH/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/NATH/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000069733&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/NATH/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/NATH/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=NATH&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=NATH
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=NATH+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=NATH+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=NATH
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=NATH
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=NATH+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/NATH/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=NATH+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/NATH.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=NATH
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/NATH/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/NATH/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/NATH/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/NATH/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/NATH
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/NATH
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/NATH:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=NATH
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=NATH
$NATH DD Notes ~ http://www.ddnotesmaker.com/NATH
Drmicrocap
9 years ago
Nathan's Famous, Inc. Reports First Quarter Results
.
PR Newswire
Nathan's Famous, Inc.
2 hours ago
JERICHO, N.Y., Aug. 5, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the first quarter of its 2016 fiscal year that ended June 28, 2015.
For the fiscal quarter ended June 28, 2015:
•Revenues increased by 11.1% to $30,654,000, as compared to $27,585,000 during the thirteen weeks ended June 29, 2014;
•Income from operations increased by 12.3% to $7,616,000, as compared to $6,779,000 during the thirteen weeks ended June 29, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 10.9% to $8,257,000 as compared to $7,447,000 for the thirteen weeks ended June 29, 2014;
•Net income was $2,310,000, as compared to $4,071,000 for the thirteen weeks ended June 29, 2014; and
•Earnings per diluted share were $0.50 per share, as compared to $0.89 per share for the thirteen weeks ended June 29, 2014.
The Company reported the following:
•License royalties increased by 17.4% to $6,536,000 during the thirteen weeks ended June 28, 2015, as compared to $5,568,000 during the thirteen weeks ended June 29, 2014. During the thirteen weeks ended June 28, 2015, royalties earned under the John Morrell & Co., agreement increased by 19.7% to $6,095,000 as compared to $5,090,000 of royalties earned during the thirteen weeks ended June 29, 2014.
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 15.6% to $17,415,000 during the thirteen weeks ended June 28, 2015, as compared to sales of $15,064,000 during the thirteen weeks ended June 29, 2014. The increase is substantially attributable to significant organic growth in our consumer packaged hot dog business as a result of more effective sales, marketing and promotional strategies.
•Sales from the Company-operated restaurants were $5,299,000 during the thirteen weeks ended June 28, 2015 as compared to $5,291,000 during the thirteen weeks ended June 29, 2014.
•Revenues from franchise operations decreased to $1,227,000 during the thirteen weeks ended June 28, 2015, as compared to $1,489,000 during the thirteen weeks ended June 29, 2014. Total franchise fee income was $41,000 during the thirteen weeks ended June 28, 2015 as compared to $227,000 during the thirteen weeks ended June 29, 2014, primarily due to store opening variances in our international franchising program. Fifteen new franchised units were opened during the thirteen weeks ended June 28, 2015, including ten Branded Menu Program outlets. Nine new franchised units were opened during the thirteen weeks ended June 29, 2014, including five Branded Menu Program outlets and our first location in Costa Rica.
•On March 10, 2015, Nathan's completed its financing of $135.0 million aggregate principal amount of 10.000% Senior Secured Notes due 2020. As a result of this offering, Nathan's results for the thirteen weeks ended June 28, 2015, include interest expense of approximately $3.7 million which has reduced net income by approximately $2.2 million or $0.47 per diluted share.
Certain Non-GAAP Financial Information:
In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company has provided EBITDA excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company has also provided Adjusted EBITDA excluding (i) stock-based compensation and (ii) amortization of bond premium on the Company's available-for sale investments that the Company believes will impact the comparability of its results of operations.
The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure.
EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income (loss) or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP.
About Nathan's Famous
Nathan's currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and ten foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 500 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co.; the ability to continue to attract franchisees; no material increases in the minimum wage or other changes in labor laws; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc. and Subsidiaries
Financial Highlights
Thirteen weeks ended
June 28, 2015
June 29, 2014
(unaudited)
Total revenues
$ 30,654,000
$ 27,585,000
Income from operations (a)
$ 7,616,000
$ 6,779,000
Net income
$ 2,310,000
$ 4,071,000
Income per share:
Basic
$ 0.50
$ 0.91
Diluted
$ 0.50
$ 0.89
Weighted-average shares used in
computing income per share:
Basic
4,584,000
4,471,000
Diluted
4,621,000
4,593,000
(a) Excludes interest expense, interest income, and other income, net.
Nathan's Famous, Inc. and Subsidiaries
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Thirteen weeks ended
June 28, 2015
June 29, 2014
(unaudited)
EBITDA
Net income
$ 2,310,000
$ 4,071,000
Interest expense
3,709,000
-0-
Provision for income taxes
1,628,000
2,791,000
Depreciation and amortization
339,000
346,000
EBITDA
$ 7,986,000
$ 7,208,000
Adjusted EBITDA
EBITDA
$ 7,986,000
$ 7,208,000
Stock-based compensation
203,000
191,000
Amortization of bond premium (b)
68,000
48,000
Adjusted EBITDA
$ 8,257,000
$ 7,447,000
(b) Represents the premiums paid on our purchase of available-for-sale securities.
COMPANY
Ronald G. DeVos, Vice President - Finance and CFO
CONTACT:
(516) 338-8500 ext. 229
Drmicrocap
9 years ago
Nathan's Famous, Inc. Reports First Quarter Results
.
PR Newswire
Nathan's Famous, Inc.
2 hours ago
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JERICHO, N.Y., Aug. 5, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the first quarter of its 2016 fiscal year that ended June 28, 2015.
For the fiscal quarter ended June 28, 2015:
•Revenues increased by 11.1% to $30,654,000, as compared to $27,585,000 during the thirteen weeks ended June 29, 2014;
•Income from operations increased by 12.3% to $7,616,000, as compared to $6,779,000 during the thirteen weeks ended June 29, 2014;
•Adjusted EBITDA, as subsequently defined, increased by 10.9% to $8,257,000 as compared to $7,447,000 for the thirteen weeks ended June 29, 2014;
•Net income was $2,310,000, as compared to $4,071,000 for the thirteen weeks ended June 29, 2014; and
•Earnings per diluted share were $0.50 per share, as compared to $0.89 per share for the thirteen weeks ended June 29, 2014.
The Company reported the following:
•License royalties increased by 17.4% to $6,536,000 during the thirteen weeks ended June 28, 2015, as compared to $5,568,000 during the thirteen weeks ended June 29, 2014. During the thirteen weeks ended June 28, 2015, royalties earned under the John Morrell & Co., agreement increased by 19.7% to $6,095,000 as compared to $5,090,000 of royalties earned during the thirteen weeks ended June 29, 2014.
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 15.6% to $17,415,000 during the thirteen weeks ended June 28, 2015, as compared to sales of $15,064,000 during the thirteen weeks ended June 29, 2014. The increase is substantially attributable to significant organic growth in our consumer packaged hot dog business as a result of more effective sales, marketing and promotional strategies.
•Sales from the Company-operated restaurants were $5,299,000 during the thirteen weeks ended June 28, 2015 as compared to $5,291,000 during the thirteen weeks ended June 29, 2014.
•Revenues from franchise operations decreased to $1,227,000 during the thirteen weeks ended June 28, 2015, as compared to $1,489,000 during the thirteen weeks ended June 29, 2014. Total franchise fee income was $41,000 during the thirteen weeks ended June 28, 2015 as compared to $227,000 during the thirteen weeks ended June 29, 2014, primarily due to store opening variances in our international franchising program. Fifteen new franchised units were opened during the thirteen weeks ended June 28, 2015, including ten Branded Menu Program outlets. Nine new franchised units were opened during the thirteen weeks ended June 29, 2014, including five Branded Menu Program outlets and our first location in Costa Rica.
•On March 10, 2015, Nathan's completed its financing of $135.0 million aggregate principal amount of 10.000% Senior Secured Notes due 2020. As a result of this offering, Nathan's results for the thirteen weeks ended June 28, 2015, include interest expense of approximately $3.7 million which has reduced net income by approximately $2.2 million or $0.47 per diluted share.
Certain Non-GAAP Financial Information:
In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company has provided EBITDA excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company has also provided Adjusted EBITDA excluding (i) stock-based compensation and (ii) amortization of bond premium on the Company's available-for sale investments that the Company believes will impact the comparability of its results of operations.
The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure.
EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income (loss) or other measures of financial performance or liquidity in conformity with US GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP.
About Nathan's Famous
Nathan's currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and ten foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 500 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co.; the ability to continue to attract franchisees; no material increases in the minimum wage or other changes in labor laws; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc. and Subsidiaries
Financial Highlights
Thirteen weeks ended
June 28, 2015
June 29, 2014
(unaudited)
Total revenues
$ 30,654,000
$ 27,585,000
Income from operations (a)
$ 7,616,000
$ 6,779,000
Net income
$ 2,310,000
$ 4,071,000
Income per share:
Basic
$ 0.50
$ 0.91
Diluted
$ 0.50
$ 0.89
Weighted-average shares used in
computing income per share:
Basic
4,584,000
4,471,000
Diluted
4,621,000
4,593,000
(a) Excludes interest expense, interest income, and other income, net.
Nathan's Famous, Inc. and Subsidiaries
Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Thirteen weeks ended
June 28, 2015
June 29, 2014
(unaudited)
EBITDA
Net income
$ 2,310,000
$ 4,071,000
Interest expense
3,709,000
-0-
Provision for income taxes
1,628,000
2,791,000
Depreciation and amortization
339,000
346,000
EBITDA
$ 7,986,000
$ 7,208,000
Adjusted EBITDA
EBITDA
$ 7,986,000
$ 7,208,000
Stock-based compensation
203,000
191,000
Amortization of bond premium (b)
68,000
48,000
Adjusted EBITDA
$ 8,257,000
$ 7,447,000
(b) Represents the premiums paid on our purchase of available-for-sale securities.
COMPANY
Ronald G. DeVos, Vice President - Finance and CFO
CONTACT:
(516) 338-8500 ext. 229
Drmicrocap
9 years ago
Nathan's Famous, Inc. Reports Year-End And Fourth Quarter Results
PR Newswire Nathan's Famous, Inc.
June 8, 2015 5:00 PM
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JERICHO, N.Y., June 8, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for its fiscal year and the fourth quarter that ended March 29, 2015.
For the fifty-two weeks ended March 29, 2015:
Net income increased by 40.5% to $11,703,000 as compared to $8,327,000 for the fifty-two weeks ended March 30, 2014;
Earnings per diluted share increased by 40.9% to $2.55 per share, as compared to $1.81 per share for the fifty-two weeks ended March 30, 2014;
Income from operations increased by 82.7% to $19,958,000, as compared to $10,921,000 during the fifty-two weeks ended March 30, 2014;
Adjusted EBITDA, as subsequently defined, increased by 68.5% to $22,497,000 as compared to $13,350,000 for the fifty-two weeks ended March 30, 2014; and
Revenues increased by 24.3% to $99,112,000, as compared to $79,752,000 during the fifty-two weeks ended March 30, 2014.
For the thirteen weeks ended March 29, 2015:
Net income increased by 26.2% to $1,537,000, as compared to $1,218,000 for the thirteen weeks ended March 30, 2014;
Earnings per diluted share increased by 25.9% to $0.34 per share, as compared to $0.27 per share for the thirteen weeks ended March 30, 2014;
Income from operations increased by 66.5% to $2,967,000, as compared to $1,782,000 during the thirteen weeks ended March 30, 2014;
Adjusted EBITDA, as subsequently defined, increased by 46.7% to $3,561,000 as compared to $2,427,000 for the thirteen weeks ended March 30, 2014; and
Revenues increased by 17.9% to $20,340,000, as compared to $17,259,000 during the thirteen weeks ended March 30, 2014.
On March 10, 2015, Nathan's completed its financing of $135.0 million aggregate principal amount of 10.000% Senior Secured Notes due 2020. Nathan's declared a special cash dividend of $25.00 per share, or approximately $116.1 million to shareholders of record on March 20, 2015. The remaining net proceeds are for general corporate purposes, including working capital.
The Company reported the following:
License royalties increased by 111.6% to $18,011,000 during the fifty-two weeks ended March 29, 2015, as compared to $8,513,000 during the fifty-two weeks ended March 30, 2014. On March 1, 2014, Nathan's commenced a new license agreement with John Morrell & Co. concerning the sale of consumer packages of Nathan's Famous hot dogs at supermarkets, mass merchandisers and club stores. During the fifty-two weeks ended March 29, 2015, representing the first full fiscal year of the new license agreement, royalties earned under the new agreement were $14,367,000, a 179.1% increase as compared to the $5,147,000 of royalties earned predominantly under the Company's old license agreement during prior fiscal year.
Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 13.6% to $58,948,000 during the fifty-two weeks ended March 29, 2015, as compared to sales of $51,877,000 during the fifty-two weeks ended March 30, 2014.
Sales from the Company-operated restaurants increased by 20.0% to $15,874,000 during the fifty-two weeks ended March 29, 2015 as compared to $13,231,000 during the fifty-two weeks ended March 30, 2014. The increase in sales was due to the following: (1) Our Yonkers restaurant, operated for fifty-two weeks this year and was closed for renovations for thirty-three weeks last year; (2) Our Flagship Coney Island restaurant, which was severely damaged by Superstorm Sandy, operated for fifty-two weeks during the current year as compared to operating for only forty-four weeks last year; (3) higher sales at both Coney Island locations during the comparative periods of operations; and (4) Our Oceanside restaurant was relocated and temporarily closed from January through March 2015.
Revenues from franchise operations decreased by 2.4% to $5,581,000 during the fifty-two weeks ended March 29, 2015, as compared to $5,718,000 during the fifty-two weeks ended March 30, 2014. Thirty-six new franchised units were opened during the fifty-two weeks ended March 29, 2015, including seventeen Branded Menu Program outlets and thirteen international locations, including our first locations in Costa Rica and Malaysia.
During the fifty-two weeks ended March 30, 2014, Nathan's realized a gain of $2,774,000 in connection with the settlement of its flood damage and contents loss insurance claims relating to Superstorm Sandy and recognized an impairment charge of $400,000 in connection with a long-term investment.
Certain Non-GAAP Financial Information:
In addition to disclosing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America ("US GAAP"), the Company has provided EBITDA excluding (i) interest expense; (ii) provision for income taxes and (iii) depreciation and amortization expense. The Company has also provided Adjusted EBITDA excluding (i) stock-based compensation; (ii) amortization of bond premium on the Company's available-for sale investments; (iii) insurance gain and (iv) impairment charge on long-term investment that the Company believes will impact the comparability of its results of operations.
The Company believes that EBITDA and Adjusted EBITDA are useful to investors to assist in assessing and understanding the Company's operating performance and underlying trends in the Company's business because EBITDA and Adjusted EBITDA are (i) among the measures used by management in evaluating performance and (ii) are frequently used by securities analysts, investors and other interested parties as a common performance measure.
EBITDA and Adjusted EBITDA are not recognized terms under US GAAP and should not be viewed as alternatives to net income (loss) or other measures of financial performance or liquidity in conformity with GAAP. Additionally, our definitions of EBITDA and Adjusted EBITDA may differ from other companies. Analysis of results and outlook on a non-US GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with US GAAP.
About Nathan's Famous
Nathan's is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and ten foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 500 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co. and any issues arising from or related to the transition from SMG Inc. to John Morrell & Co. as our primary hot dog supplier; the ability to continue to attract franchisees; no material increases in the minimum wage or other changes in labor laws or the impact of a new union contract; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
Fifty-two weeks ended
Mar. 29, 2015
Mar. 30, 2014
Mar. 29, 2015
Mar. 30, 2014
(unaudited)
(unaudited)
Total revenues
$ 20,340,000
$ 17,259,000
$ 99,112,000
$ 79,752,000
Income from operations (a)
$ 2,967,000
$ 1,782,000
$ 19,958,000
$ 10,921,000
Net income
$ 1,537,000
$ 1,218,000
$ 11,703,000
$ 8,327,000
Income per share:
Basic
$ 0.34
$ 0.27
$ 2.61
$ 1.87
Diluted
$ 0.34
$ 0.27
$ 2.55
$ 1.81
Weighted-average shares used in
computing income per share:
Basic
4,521,000
4,459,000
4,486,000
4,450,000
Diluted
4,562,000
4,594,000
4,588,000
4,605,000
(a)
Excludes interest expense, interest income, the gain from insurance payments as a result of the damage and temporary closure of the Coney Island restaurant due to Superstorm Sandy in fiscal 2014, impairment charge based on management's evaluation of the fair value of its long-term investment in a privately owned corporation in fiscal 2014 and other income, net.
Nathan's Famous, Inc.
Reconciliation of EBITDA and Adjusted EBITDA to Net Income
Thirteen weeks ended
Fifty-two weeks ended
Mar. 29, 2015
Mar. 30, 2014
Mar. 29, 2015
Mar. 30, 2014
(unaudited)
(unaudited)
EBITDA
Net income
$ 1,537,000
$ 1,218,000
$ 11,703,000
$ 8,327,000
Provision for income taxes
675,000
636,000
7,702,000
5,234,000
Depreciation and amortization
268,000
312,000
1,253,000
1,157,000
Interest expense
$ 816,000
-
816,000
135,000
EBITDA
$ 3,296,000
$ 2,166,000
$ 21,474,000
$ 14,853,000
Adjusted EBITDA
EBITDA
$ 3,296,000
$ 2,166,000
$ 21,474,000
$ 14,853,000
Insurance loss (gain) (b)
-
27,000
-
(2,774,000)
Impairment charge long-term
Investments (c)
-
-
-
400,000
Stock-based compensation
230,000
191,000
859,000
721,000
Amortization of bond premium (d)
35,000
43,000
164,000
150,000
Adjusted EBITDA
$ 3,561,000
$ 2,427,000
$ 22,497,000
$ 13,350,000
(b)
Represents the elimination of the loss (gain) from insurance payments as a result of the damage and temporary closure of the Coney Island restaurant due to Superstorm Sandy.
(c)
Represents impairment charge based on management's evaluation of the fair value of its long-term investment in a privately owned corporation.
(d)
Represents the premiums paid on our purchase of available-for-sale securities, consisting of municipal bonds.
COMPANY Ronald G. DeVos, Vice President - Finance and CFO
CONTACT: (516) 338-8500 ext. 229
Drmicrocap
9 years ago
Nathan's Famous, Inc. Reports Third Quarter Results
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PR Newswire
Nathan's Famous, Inc.
3 hours ago
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JERICHO, N.Y., Feb. 4, 2015 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the third quarter of its 2015 fiscal year that ended December 28, 2014.
For the thirteen weeks ended December 28, 2014:
•Net income increased by 102.4% to $2,241,000, as compared to $1,107,000 for the thirteen weeks ended December 29, 2013;
•Earnings per diluted share increased by 104.2% to $0.49 per share, as compared to $0.24 per share for the thirteen weeks ended December 29, 2013;
•Earnings before income taxes increased by 110.2% to $3,803,000 as compared to $1,809,000 for the thirteen weeks ended December 29, 2013; and
•Revenues increased by 20.6% to $22,353,000, as compared to $18,533,000 during the thirteen weeks ended December 29, 2013.
For the thirty-nine weeks ended December 28, 2014:
•Net income increased by 43.0% to $10,166,000 as compared to $7,109,000 for the thirty-nine weeks ended December 29, 2013;
•Earnings per diluted share increased by 43.5% to $2.21 per share, as compared to $1.54 per share for the thirty-nine weeks ended December 29, 2013;
•Earnings before income taxes increased by 84.8% to $17,193,000 as compared to $9,306,000 for the thirty-nine weeks ended December 29, 2013 (excluding non-routine items in 2013 relating to an insurance gain of $2,801,000 offset by an impairment charge of $400,000); and
•Revenues increased by 25.8% to $78,974,000, as compared to $62,795,000 during the thirty-nine weeks ended December 29, 2013, (excluding the non-routine insurance gain of $2,801,000 in 2013).
The Company reported the following:
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 13.2% to $45,568,000 during the thirty-nine weeks ended December 28, 2014, as compared to sales of $40,256,000 during the thirty-nine weeks ended December 29, 2013.
•Sales from the Company-operated restaurants increased by 25.7% to $14,497,000 during the thirty-nine weeks ended December 28, 2014 as compared to $11,536,000 during the thirty-nine weeks ended December 29, 2013. The increase in sales was due to the following: (1) Our Yonkers restaurant, operated for thirty-nine weeks this year and was closed for renovations for thirty-three weeks last year; (2) Our Flagship Coney Island restaurant, which was severely damaged by Superstorm Sandy, operated for thirty-nine weeks during the current year as compared to operating for only thirty-one weeks last year; and (3) higher sales at both Coney Island locations during the comparative periods of operations.
•License royalties pursuant to all license agreements increased by 119.8% to $13,652,000 during the thirty-nine weeks ended December 28, 2014, as compared to $6,211,000 during the thirty-nine weeks ended December 29, 2013.
•Revenues from franchise operations increased by 4.5% to $4,473,000 during the thirty-nine weeks ended December 28, 2014, as compared to $4,279,000 during the thirty-nine weeks ended December 29, 2013. Twenty-eight new franchised units were opened during the thirty-nine weeks ended December 28, 2014, including fourteen Branded Menu Program outlets and ten international locations, including our first locations in Costa Rica and Malaysia.
•During the thirty-nine weeks ended December 29, 2013, Nathan's realized a gain of $2,801,000 in connection with the settlement of its flood damage and contents loss insurance claims relating to Superstorm Sandy and recognized an impairment charge of $400,000 in connection with a long-term investment.
About Nathan's Famous
Nathan's is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and ten foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 480 million Nathan's Famous hot dogs were sold. Nathan's was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: economic, weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectability of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co. and any issues arising from or related to the transition from SMG Inc. to John Morrell & Co. as our primary hot dog supplier; the ability to continue to attract franchisees; no material increases in the minimum wage or other changes in labor laws or the impact of a new union contract; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
Thirty-nine weeks ended
Dec. 28, 2014
Dec. 29, 2013
Dec. 28, 2014
Dec. 29, 2013
(unaudited)
(unaudited)
Total revenues
$ 22,353,000
$ 18,533,000
$ 78,974,000
$ 65,596,000
Net income
$ 2,241,000
$ 1,107,000
$ 10,166,000
$ 7,109,000
Income per share:
Basic
$ 0.50
$ 0.25
$ 2.27
$ 1.60
Diluted
$ 0.49
$ 0.24
$ 2.21
$ 1.54
Weighted-average shares used in
computing income per share:
Basic
4,482,000
4,466,000
4,475,000
4,447,000
Diluted
4,603,000
4,622,000
4,596,000
4,609,000
COMPANY CONTACT:
Ronald G. DeVos, Vice President - Finance and CFO
(516) 338-8500 ext. 229
Drmicrocap
10 years ago
Nathan's Famous, Inc. Reports Year-End And Fourth Quarter Results
PR Newswire Nathan's Famous, Inc.
June 13, 2014 8:30 AM
JERICHO, N.Y., June 13, 2014 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for its fiscal year and fiscal quarter ended March 30, 2014.
For the fiscal year ended March 30, 2014:
Revenues increased by 15.9% to $82,927,000, as compared to $71,543,000 during the fifty-three weeks ended March 31, 2013;
Net income increased by 11.5% to $8,327,000 as compared to $7,468,000 for the fifty-three weeks ended March 31, 2013; and
Earnings per diluted share increased by 11.0% to $1.81 as compared to $1.63 for the fifty-three weeks ended March 31, 2013.
For the fourth quarter ended March 30, 2014:
Revenues increased by 15.7% to $17,331,000, as compared to $14,976,000 during the fourteen weeks ended March 31, 2013;
Net income was $1,218,000 as compared to $1,555,000 for the fourteen weeks ended March 31, 2013; and
Earnings per diluted share were $0.27 as compared to $0.34 for the fourteen weeks ended March 31, 2013.
The Company also reported the following:
In March 2014, our new license agreement commenced with John Morrell & Co. replacing SMG, Inc. as Nathan's exclusive licensee to manufacture and sell Nathan's branded hot dog, sausage and corned beef products at retail. John Morrell & Co began initial shipments during the third week of March 2014. We expect to begin realizing the financial benefits of this new agreement in our first fiscal quarter ending in June 2014. As previously disclosed, we believe the financial terms of the John Morrell agreement are more advantageous to us compared to the financial terms of the previous SMG agreement. These improved terms include royalties of 10.8% of net sales, compared to approximately 4.5% of net sales under the SMG agreement, and significant minimum annual royalty guarantees. Under the John Morrell Agreement, the minimum guarantee for the first year is $10 Million, and we believe that actual royalties shall exceed the minimum. Royalties earned under the SMG agreement over the last 12 months of the SMG agreement were $5,323,000.
License royalties pursuant to all license agreements were $8,513,000 during the fifty-two weeks ended March 30, 2014, as compared to $8,571,000 during the fifty-three weeks ended March 31, 2013.
Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 20.0% to $51,877,000 during the fifty-two weeks ended March 30, 2014, as compared to sales of $43,214,000 during the fifty-three weeks ended March 31, 2013. Currently, products are being distributed throughout all 50 states in channels that include restaurant systems, convenience stores, travel centers, sports stadiums, entertainment venues, colleges and universities and vending.
Sales from the Company-owned restaurants were $13,231,000 during the fifty-two weeks ended March 30, 2014 as compared to $13,403,000 during the fifty-three weeks ended March 31, 2013; the decline in sales was due to the following: (1) Our Flagship Coney Island restaurant, which was severely damaged by Superstorm Sandy, reopened on May 20, 2013, losing eight (8) weeks of the spring season during the fiscal 2014 period, compared to the post-Sandy closure of twenty-two (22) weeks from November 2012 through March 2013 when sales at the restaurant are lower; and (2) The temporary closing of our Yonkers restaurant for redevelopment from December 2012 until reopening in November 2013. We estimate these two factors negatively impacted the sales comparison by approximately $2,087,000.
Sales at our two Coney Island locations were approximately $876,000 higher in the aggregate for the comparative weeks of operations during the fiscal year ended March 30, 2014 as compared to the prior fiscal year. Sales at our seasonal Boardwalk restaurant in Coney Island were approximately 16.8% higher during the thirty weeks of operations during the fiscal year ended March 30, 2014 as compared to the fiscal year ended March 31, 2013.
Gross profit decreased to 19.0% of sales during the fifty-two weeks ended March 30, 2014, as compared to 20.8% of sales during the fifty-three weeks ended March 31, 2013 due primarily to the impact of the higher cost of beef on our Branded Product Program. During the fiscal 2014 period, the cost of our beef products were approximately 6.7% higher than the fiscal 2013 period due primarily to the increase in the beef trimmings markets during the fiscal year. We have taken steps to pass the recent cost increases on through price increases, but there can be no assurance we will be successful in doing so.
Revenues from franchise operations were $5,718,000 during the fifty-two weeks ended March 30, 2014, as compared to $5,842,000 during the fifty-three weeks ended March 31, 2013. We opened 56 new franchised units during the fifty-two weeks ended March 30, 2014, including eight Branded Menu Program outlets. Franchise sales were negatively impacted due to the unusually harsh winter weather this year.
Nathan's executed Master Development Agreements for the development of Nathan's restaurants and retail distribution throughout Costa Rica and the City of Lisbon, Portugal.
Nathan's realized a gain of $2,774,000 during the fifty-two weeks ended March 30, 2014 in connection with the settlement of its property damage and business interruption claims relating to Superstorm Sandy.
Nathan's recognized an impairment charge of $400,000 in connection with a long-term investment.
About Nathan's Famous
Nathan's is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and eight foreign countries through its restaurant system, foodservice sales programs and product licensing activities. At March 30, 2014, the Nathan's restaurant system consisted of 329 units, comprised of 324 franchised units and five company-owned units (including one seasonal unit). Nathan's was ranked #55 on the Forbes list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. Last year, over 430 million Nathan's Famous hot dogs were sold. For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially include but are not limited to: economic, weather (including the three-year drought in the Midwest, along with freezing temperatures during the winter causing a reduced supply of cattle and any continued impact of Hurricane Sandy), and continued increases in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectability of receivables; changes in consumer tastes; the status of our licensing and supply agreements, any issues arising from or related to the transition from SMG to John Morrell & Co. as our primary hot dog supplier and the termination in March 2014 of our previous hot dog supply agreement with SMG; the ability to continue to attract franchisees; labor costs including no material increases in the minimum wage or the impact of new union contracts; our ability to attract competent restaurant and managerial personnel; the impact of changes in the economic relationship between the United States and Russia; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc.
Financial Highlights
Fourth quarter ended
Fiscal year ended
Mar. 30, 2014
Mar. 31, 2013
Mar. 30, 2014
Mar. 31, 2013
(unaudited)
Total revenues
$ 17,331,000
$ 14,976,000
$ 82,927,000
$ 71,543,000
Net income
$ 1,218,000
$ 1,555,000
$ 8,327,000
$ 7,468,000
Basic income per share
Net income
$ 0.27
$ 0.35
$ 1.87
$ 1.70
Diluted income per share
Net income
$ 0.27
$ 0.34
$ 1.81
$ 1.63
Weighted-average shares used in
computing income per share
Basic
4,459,000
4,411,000
4,450,000
4,400,000
Diluted
4,594,000
4,603,000
4,605,000
4,588,000
COMPANY Ronald G. DeVos, Vice President - Finance and CFO
CONTACT: (516) 338-8500 ext. 229
Drmicrocap
10 years ago
Nathan's Famous, Inc. Reports Second Quarter Results
Nathan's Famous, Inc. 2 hours ago
JERICHO, N.Y., Nov. 8, 2013 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the second quarter of its 2014 fiscal year that ended September 29, 2013.
For the fiscal quarter ended September 29, 2013:
•Net income was $2,648,000 as compared to $2,845,000 for the thirteen weeks ended September 23, 2012;
•Earnings per diluted share were $0.57 as compared to $0.62 for the thirteen weeks ended September 23, 2012; and
•Revenues increased by 10.8% to $23,662,000, as compared to $21,360,000 during the thirteen weeks ended September 23, 2012.
For the twenty-six weeks ended September 29, 2013:
•Net income increased by 23.7% to $6,002,000 as compared to $4,851,000 for the twenty-six weeks ended September 23, 2012;
•Earnings per diluted share increased by 22.6% to $1.30 as compared to $1.06 for the twenty-six weeks ended September 23, 2012; and
•Revenues increased by 13.3% to $47,063,000, as compared to $41,542,000 during the twenty-six weeks ended September 23, 2012.
The Company also reported the following:
•In March 2014, our new license agreement will commence with John Morrell & Co. replacing SMG, Inc. as Nathan's exclusive licensee to manufacture and sell branded hot dog, sausage and corned beef products at retail. As previously disclosed, we believe the financial terms of the John Morrell agreement are more advantageous to us compared to the financial terms of the current SMG agreement. Among those improved terms are royalties of 10.8% of net sales, compared to approximately 4.5% of net sales under the SMG agreement, as well as significant minimum annual royalty guarantees. Under the John Morrell Agreement, the minimum guarantee for the first year is $10 Million, and we believe that actual royalties should exceed the minimum. Royalties earned under the SMG agreement over the last 12 months were $5,366,000.
•License royalties pursuant to all license agreements were $4,416,000 during the twenty-six weeks ended September 29, 2013, as compared to $4,351,000 during the twenty-six weeks ended September 23, 2012.
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 16.4% to $27,101,000 during the twenty-six weeks ended September 29, 2013, as compared to sales of $23,291,000 during the twenty-six weeks ended September 23, 2012.
•Sales from the Company-owned restaurants were $9,545,000 during the twenty-six weeks ended September 29, 2013 as compared to $10,697,000 during the twenty-six weeks ended September 23, 2012; the decline in sales was due to the following: (1) Our Flagship Coney Island restaurant, which was severely damaged by Superstorm Sandy, was not fully repaired and did not reopen until May 20, 2013, and operated for only 18 weeks of the current fiscal year, compared to the full 26 weeks at this point of fiscal 2013; and (2) The temporary closing of our Yonkers restaurant for redevelopment since December 2012. We estimate that these two factors negatively impacted the sales comparison by approximately $1,895,000.
•Sales at our two Coney Island locations were approximately $801,000 higher in the aggregate than last season even though our Flagship Coney Island restaurant only operated for 18 weeks during the fiscal period ending September 29, 2013. Sales at our seasonal Boardwalk restaurant in Coney Island were approximately 17.1% higher during the 26 weeks ended September 29, 2013 than the 26 weeks ended September 23, 2012.
•Gross profit decreased to 21.7% of sales during the twenty-six weeks ended September 29, 2013, as compared to 23.9% of sales during the twenty-six weeks ended September 23, 2012 due primarily to the impact of the higher cost of beef. During the second quarter fiscal 2014, the cost of our beef products were approximately 9.0% higher than the second quarter fiscal 2013 due primarily to an unusual increase in the beef trimmings markets during August and September 2013. We have begun taking steps to pass the recent cost increases on through price increases but there can be no assurance we will be successful in doing so.
•Revenues from franchise operations were $2,863,000 during the twenty-six weeks ended September 29, 2013, as compared to $2,938,000 during the twenty-six weeks ended September 23, 2012. Fifteen new franchised units were opened during the twenty-six weeks ended September 29, 2013, including four Branded Menu Program outlets and seven locations in Moscow.
•Nathan's realized a gain of $2,801,000 during the twenty-six weeks ended September 29, 2013 in connection with the settlement of its flood damage and contents loss insurance claims relating to Superstorm Sandy.
•Nathan's recognized an impairment charge of $400,000 in connection with a long-term investment.
•Nathan's final appeal in the SMG litigation was denied. As a result, the judgment of $4,910,000 and all post-judgment interest of $1,099,000, was satisfied on July 24, 2013. As previously described, we accrued the expense of the judgment in October 2010, and have been accruing the expenses for post-judgment interest on a monthly basis throughout the appeals process.
•In October, 2013, Nathan's was ranked #55 on the Forbes list of the Best Small Companies in America and was listed as the Best Small Company in New York State.
About Nathan's Famous
Nathan's is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and nine foreign countries through its restaurant system, foodservice sales programs and product licensing activities. The Nathan's restaurant system currently consists of 314 units, comprised of 309 franchised units and five company-owned units (including one seasonal unit). For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of economic, weather (including the continued impact of Hurricane Sandy and the three-year drought in the Midwest which has caused an increase in corn pricing and reduced supply of cattle), continued increases in the price of beef trimmings; legislative and business conditions; the collectibility of receivables; changes in consumer tastes; the status of our licensing and supply agreements, including the impact of a new supply agreement for hot dogs with John Morrell & Co. and the termination in 2014 of our existing hot dog supply agreement with SMG and any issues arising from or related to the transition from SMG to John Morrell & Co. as our primary hot dog supplier; the ability to continue to attract franchisees; no material increases in the minimum wage; our ability to attract competent restaurant and managerial personnel; and the future effects of any food borne illness; such as bovine spongiform encephalopathy, BSE; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
COMPANY Ronald G. DeVos, Vice President - Finance and CFO
CONTACT: (516) 338-8500 ext. 229
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
Twenty-six weeks ended
Sept. 29, 2013
Sept. 23, 2012
Sept. 29, 2013
Sept. 23, 2012
(unaudited)
(unaudited)
Total revenues
$ 23,662,000
$ 21,360,000
$ 47,063,000
$ 41,542,000
Net income
$ 2,648,000
$ 2,845,000
$ 6,002,000
$ 4,851,000
Basic income per share
Net income
$ 0.59
$ 0.65
$ 1.35
$ 1.11
Diluted income per share
Net income
$ 0.57
$ 0.62
$ 1.30
$ 1.06
Weighted-average shares used in
computing income per share
Basic
4,460,000
4,407,000
4,437,000
4,387,000
Diluted
4,625,000
4,604,000
4,603,000
4,568,000
Drmicrocap
11 years ago
Nathan's Famous, Inc. Reports First Quarter Results
PR NewswirePress Release: Nathan's Famous, Inc. – 6 hours ago..
JERICHO, N.Y., Aug. 7, 2013 /PRNewswire/ -- Nathan's Famous, Inc. (NATH) today reported results for the first quarter of its 2014 fiscal year that ended June 30, 2013.
For the fiscal quarter ended June 30, 2013:
•Net income increased by 67.2% to $3,354,000 as compared to $2,006,000 for the thirteen weeks ended June 24, 2012;
•Earnings per diluted share increased by 65.9% to $0.73 as compared to $0.44 for the thirteen weeks ended June 24, 2012; and
•Revenues increased by 15.9% to $23,401,000, as compared to $20,182,000 during the thirteen weeks ended June 24, 2012.
The Company also reported the following:
•Sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 11.3% to $13,141,000 during the thirteen weeks ended June 30, 2013, as compared to sales of $11,806,000 during the thirteen weeks ended June 24, 2012.
•Sales from the Company-owned restaurants were $3,726,000 during the thirteen weeks ended June 30, 2013 as compared to $4,588,000 during the thirteen weeks ended June 24, 2012; however, the decline in sales was due to the following: (1) Our Flagship Coney Island restaurant, which was severely damaged by Superstorm Sandy, was not fully repaired and reopened until May 20, and operated for only 5 weeks of the quarter this year, compared to the full 13 weeks last year; and (2) The temporary closing of our Yonkers restaurant for redevelopment since December 2012. We estimate that these two factors negatively impacted sales by approximately $1,400,000.
•Since reopening, sales at our Flagship Coney Island restaurant for the five weeks ending June 30, 2013 were approximately 19% higher than the comparative five weeks of the previous fiscal period. Sales during the thirteen weeks ended June 30, 2013 at our seasonal Boardwalk restaurant in Coney Island were approximately 35% higher than the thirteen weeks ended June 24, 2012, although there can be no assurance as to the continuation of these trends.
•Gross profit decreased to 20.6% of sales during the thirteen weeks ended June 30, 2013, as compared to 20.8% of sales during the thirteen weeks ended June 24, 2012 due primarily to the impact of lower sales at the Company-operated restaurants.
•License royalties were $2,265,000 during the thirteen weeks ended June 30, 2013, as compared to $2,229,000 during the thirteen weeks ended June 24, 2012.
•Revenues from franchise operations were $1,347,000 during the thirteen weeks ended June 30, 2013, as compared to $1,430,000 during the thirteen weeks ended June 24, 2012. Eight new franchised units were opened during the thirteen weeks ended June 30, 2013, including four Branded Menu Program outlets and our first location in Moscow.
•Nathan's realized a gain of $2,801,000 during the thirteen weeks ended June 30, 2013 in connection with the settlement of its flood damage and contents loss insurance claims relating to Superstorm Sandy.
•Nathan's recognized an impairment charge of $400,000 in connection with a long-term investment.
•Nathan's final appeal in the SMG litigation was denied. As a result, the judgment of $4,910,000 and all post-judgment interest of $1,099,000, was satisfied on July 24, 2013. As previously described, we accrued the expense of the judgment in October 2010, and have been accruing the expenses for post-judgment interest on a monthly basis throughout the appeals process.
About Nathan's Famous
Nathan's products are currently distributed in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Cayman Islands and nine foreign countries through its restaurant system, foodservice sales programs and product licensing activities. The Nathan's restaurant system currently consists of 310 units, comprised of 307 franchised units and five company-owned units (including one seasonal unit). For additional information about Nathan's please visit our website at www.nathansfamous.com.
Except for historical information contained in this news release, the matters discussed are forward looking statements that involve risks and uncertainties. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions identify forward-looking statements, which are based on the current belief of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; the ability to obtain an adequate supply of beef and other food products at competitive prices; capacity; the regulatory and trade environment; and the risk factors reported from time to time in the Company's SEC reports. The Company does not undertake any obligation to update such forward-looking statements.
Nathan's Famous, Inc.
Financial Highlights
Thirteen weeks ended
June 30, 2013
June 24, 2012
(unaudited)
Total revenues
$ 23,401,000
$ 20,182,000
Net income
$ 3,354,000
$ 2,006,000
Basic income per share
Net income
$ 0.76
$ 0.46
Diluted income per share
Net income
$ 0.73
$ 0.44
Weighted-average shares used in
computing income per share
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