Nathan's Famous Q4 Revenue Increases To $10.52m
Nathan's Famous, a chain of fast food restaurants, has reported total revenues of $10.52m for the fourth quarter of fiscal 2010, an increase of 4.8% compared to $10.03m in the same quarter last year.
Net income for the quarter was $791,000 or $0.14 per diluted share compared to $944,000 or $0.16 per diluted share.
For the fiscal 2010, total revenues were $50.87m compared to $79.22m in the previous year. Net income for the fiscal year was $5.56m or $0.97 per diluted share compared to $7.48m or $1.21 per diluted share in the prior year.
During the prior fiscal year, Nathan’s realized gains, net of tax, of $2.52m or $0.41 per share from the sale of its formerly wholly-owned subsidiary, NF Roasters and additional consideration from the sale of its formerly wholly-owned subsidiary, Miami Subs of $250,000 which was previously deemed contingent and not realized. The total of these gains before income taxes was $3.91m.
Nathan’s products are currently distributed in 50 states, the District of Columbia, Puerto Rico, the US Virgin Islands, Guam, the Cayman Islands and four foreign countries through its restaurant system, foodservice sales programs and retail licensing activities.
The Nathan’s restaurant system currently consists of 251 units, comprised of 246 franchised or licensed units and five company-owned units (including one seasonal unit).
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