Nathan's Famous Inc. has reported results for the first quarter of its 2013 fiscal year that ended June 24.
Highlights include:
- Net income increased by 25.7 percent to $2,006,000 as compared to $1,596,000 for the 13 weeks ended June 26, 2011;
- Earnings per diluted share increased by 41.9 percent to $0.44 as compared to $0.31 for prior year period; and
- Revenues increased by 12.8 percent to $20,182,000, as compared to $17,897,000 during the prior year period.
The company also reported that sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 16.4 percent during the quarter.
Nathan's executed two Master Development Agreements comprising the Republic of Turkey, including the Turkish Republic of Northern Cyprus and Mexico City, Mexico.
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 seven foreign countries through its restaurant system, foodservice sales programs and product licensing activities. The Nathan's restaurant system currently consists of 307 units, comprised of 302 franchised units and five company-owned units (including one seasonal unit).
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