News

Nathan's Famous foodservice sales up 20%

June 16, 2014

Nathan's Famous Inc. today reported results for its fiscal year and fiscal quarter ended March 30.

Highlights for the year include:

• Revenues increased by 15.9 percent year over year;
• Net income increased by 11.5 percent to $8,327,000; and
• Earnings per diluted share increased by 11 percent to $1.81.

For Q4, highlights include:

• Revenues increased by 15.7 percent;
• Net income was $1,218,000; and
• Earnings per diluted share were 27 cents as compared to 34 cents for the 14 weeks ended March 31, 2013.

Additionally, the company's new license agreement with John Morrell & Co. (replacing SMG Inc.) began in March. John Morrell & Co. is now Nathan's exclusive licensee to manufacture and sell Nathan's branded hot dog, sausage and corned beef products at retail, according to a news release.

Finally, sales from the Branded Product Program, featuring the sale of Nathan's hot dogs to the foodservice industry, increased by 20 percent to $51,877,000 during the 52 weeks ended March 30, as compared to sales of $43,214,000 during the prior year. Currently, products are being distributed throughout all 50 states in channels that include restaurant systems, convenience stores, travel centers, sports stadiums, entertainment venues, colleges and universities and vending, the release said.