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Nathan's Famous, Inc. Reports First Quarter Results

Nathan's Famous, Inc. (NASDAQ:NATH) today reported results for the first quarter of its 2011 fiscal year that ended June 27, 2010.

For the quarter ended June 27, 2010, net income increased by 6.2% to $1,660,000 and earnings per diluted share increased 7.4% to $0.29, as compared to $1,563,000 and $0.27, respectively, for the quarter ended June 28, 2009.

Total revenue increased by 9.8% to $15,626,000, as compared to $14,232,000 during the quarter ended June 28, 2009.

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 four foreign countries through its restaurant system, foodservice sales programs and product licensing activities. The Nathan’s restaurant system currently consists of 257 units, comprised of 252 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

(unaudited)
     

June 27, 2010

June 28, 2009

 
Total revenues

$

15,626,000 $ 14,232,000
 
 
Net income $ 1,660,000 $ 1,563,000
 
 
Basic income per share
Net income $ 0.30 $ 0.28
 
Diluted income per share
Net income $ 0.29 $ 0.27
 
Weighted-average shares used in computing
income per share
Basic   5,594,000   5,612,000
Diluted   5,694,000   5,879,000




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