PR Newswire
JERICHO, N.Y., June 10, 2016
JERICHO, N.Y., June 10, 2016 /PRNewswire/ -- Nathan's Famous, Inc. (NASDAQ: NATH) today reported results for its fiscal year and the fourth quarter that ended March 27, 2016.
For the fifty-two weeks ended March 27, 2016:
For the thirteen weeks ended March 27, 2016:
"Fiscal 2016 was a very strong year for Nathan's Famous," said Eric Gatoff, the company's Chief Executive Officer. "Our Branded Products Program, licensing program and Company-owned restaurants all delivered outstanding results, helping the Company achieve the highest Income from operations in its history."
The Company reported the following:
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 and (iii) 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 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 eleven foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 550 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 | |||||||||||||||||||||||||
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| | Thirteen weeks ended | | | | Fifty-two weeks ended | | | |||||||||||||||||
| Mar. 27, 2016 | | Mar. 29, 2015 | | Mar. 27, 2016 | | Mar. 29, 2015 | | |||||||||||||||||
| (unaudited) | | | | | | |||||||||||||||||||
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Total revenues | $ 19,053,000 | | $ 20,340,000 | | $ 100,890,000 | | $ 99,112,000 | | |||||||||||||||||
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Income from operations (a) | $ 4,486,000 | | $ 2,967,000 | | $ 24,963,000 | | $ 19,958,000 | | |||||||||||||||||
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Net income | $ 507,000 | | $ 1,537,000 | | $ 6,096,000 | | $ 11,703,000 | | |||||||||||||||||
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Income per share: | | | | | | | | | |||||||||||||||||
Basic | $ 0.12 | | $ 0.34 | | $ 1.38 | | $ 2.61 | | |||||||||||||||||
Diluted | $ 0.12 | | $ 0.34 | | $ 1.37 | | $ 2.55 | | |||||||||||||||||
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Weighted-average shares used in | | | | | | | | | |||||||||||||||||
computing income per share: | | | | | | | | | |||||||||||||||||
Basic | 4,297,000 | | 4,521,000 | | 4,430,000 | | 4,486,000 | | |||||||||||||||||
Diluted | 4,337,000 | | 4,562,000 | | 4,463,000 | | 4,588,000 | | |||||||||||||||||
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(a) | Excludes interest expense, impairment charge long-term investment, interest income, and other income, net. |
Nathan's Famous, Inc. and Subsidiaries | ||||||||||||||||||
Reconciliation of Net Income to EBITDA and Adjusted EBITDA | ||||||||||||||||||
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| Thirteen weeks ended | | | | Fifty-two weeks ended | | ||||||||||||
| Mar. 27, 2016 | | Mar. 29, 2015 | | Mar. 27, 2016 | | Mar. 29, 2015 | | ||||||||||
| (unaudited) | | | | | | ||||||||||||
EBITDA | | | | | | | | | ||||||||||
Net Income | $ 507,000 | | $ 1,537,000 | | $ 6,096,000 | | $ 11,703,000 | | ||||||||||
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Interest Expense | 3,504,000 | | 816,000 | | 14,630,000 | | 816,000 | | ||||||||||
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Provision for income taxes | 402,000 | | 675,000 | | 4,288,000 | | 7,702,000 | | ||||||||||
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Depreciation and amortization | 280,000 | | 268,000 | | 1,255,000 | | 1,253,000 | | ||||||||||
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EBITDA | $ 4,693,000 | | $ 3,296,000 Werbung Mehr Nachrichten zur Nathan's Famous Aktie kostenlos abonnieren
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