This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nathan's Famous, Inc. Reports First Quarter Results

Nathan's Famous, Inc. (NASDAQ:NATH) today reported results for the first quarter of its 2012 fiscal year that ended June 26, 2011.

For the fiscal quarter ended June 26, 2011:

  • Net income was $1,596,000 or $0.31 per diluted share as compared to $1,660,000 or $0.29 per diluted share for the thirteen weeks ended June 27, 2010;
  • Earnings before income taxes increased by 2.9% to $2,591,000 as compared to $2,517,000 for the thirteen weeks June 27, 2010;
  • Non-GAAP earnings, which exclude the litigation expense items described below, were $1,666,000 or $0.32 per diluted share; and
  • Revenues increased by 14.5% to $17,897,000, as compared to $15,626,000 during the thirteen weeks ended June 27, 2010.

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 29.2% to $10,140,000 during the thirteen weeks ended June 26, 2011 as compared to sales of $7,850,000 during the thirteen weeks ended June 27, 2010.
  • Retail license royalties increased by 9.3% or $168,000 to $1,967,000 during the thirteen weeks ended June 26, 2011 as compared to $1,799,000 during the thirteen weeks ended June 27, 2010.
  • Revenues from franchise operations increased by 14.3% or $180,000 to $1,435,000 during the thirteen weeks ended June 26, 2011 as compared to $1,255,000 during the thirteen weeks ended June 27, 2010. Fourteen new franchised units were opened during the thirteen weeks ended June 26, 2011, including our first restaurant in Alberta, Canada, third restaurant in Beijing, China, fourth restaurant in the Dominican Republic and fifteenth restaurant in Kuwait.
  • Gross profit was 18.7% of sales as compared to 23.2% of sales during the thirteen weeks ended June 27, 2010 due primarily to unusually high beef costs.
  • The effective tax rate of 38.4% is approximately 4.4% higher than for the thirteen weeks ended June 27, 2010 when we resolved uncertain tax positions, reversing $79,000 of prior period accruals.
  • During the thirteen weeks ended June 26, 2011, we continued our stock repurchase programs, acquiring 31,569 shares at a total cost of approximately $573,000.

As previously described with respect to our litigation with SMG, on April 7, 2011, the Court entered a stipulation and order which granted a stay of enforcement of the final judgment which is in the amount of approximately $4,910,000.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs