Nathan's Famous posts mixed Q1 results

Nathan's Famous posts mixed Q1 results
Tags: Operations Management, Sandwich
August 6, 2009

Nathan's Famous Inc. has reported positive revenues for the first quarter ended June 28 despite a drop in net income due to proceeds from the sale of two subsidiaries.

Total revenue from continuing operations was up 1 percent to $14.2 million, compared to $14 million during the same period last year.

Net income was down 58 percent at $1.6 million, compared to $3.8 million during the same period last year. Nathan's Q1 2008 income was impacted by Nathan's realization of one-time gains, net of tax, of $2.5 million from the sale of its formerly wholly-owned subsidiary NF Roasters Corp. and additional consideration from the sale of its formerly wholly-owned subsidiary Miami Subs Corp.