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Nathan's Famous, Inc. Reports Year End Results

Nathan's Famous, Inc. (NASDAQ: NATH) today reported results for its 2010 fiscal year ended March 28, 2010, its seventh consecutive year of increased revenues and profits from continuing operations.

For the fiscal year ended March 28, 2010, income from continuing operations increased by 12.3% to $5,569,000, or $0.97 per share, based upon approximately 5.7 million diluted shares outstanding as compared to $4,958,000 or $0.80 per share, based upon approximately 6.2 million diluted shares outstanding for the fiscal year ended March 29, 2009. Total revenue from continuing operations increased by 3.4% to $50,876,000 for the fiscal year ended March 28, 2010 as compared to $49,221,000 during the fiscal year ended March 29, 2009. Net income for the fiscal year ended March 28, 2010 was $5,569,000 or $0.97 per share as compared to $7,482,000 or $1.21 per share for the fiscal year ended March 29, 2009.

During the prior fiscal year, Nathan’s realized gains, net of tax, of $2,519,000 or $0.41 per share from the sale of its formerly wholly-owned subsidiary, NF Roasters Corporation and additional consideration from the sale of its formerly wholly-owned subsidiary, Miami Subs Corporation of $250,000 which was previously deemed contingent and not realized. The total of these gains before income taxes was $3,906,000.

For the thirteen weeks ended March 28, 2010, income from continuing operations was $791,000 or $0.14 per diluted share, based upon approximately 5.7 million diluted shares outstanding as compared to $887,000 or $0.15 per diluted share, based upon approximately 5.9 million diluted shares outstanding for the thirteen weeks ended March 29, 2009. During the thirteen weeks ended March 28, 2010, Nathan’s recorded an impairment charge on note receivable of $250,000. Total revenue from continuing operations increased by 4.8% to $10,524,000, as compared to $10,039,000 during the thirteen weeks ended March 29, 2009. Net income for the thirteen weeks ended March 28, 2010 was $791,000 or $0.14 per share as compared to $944,000 or $0.16 per share for the thirteen weeks ended March 29, 2009.

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