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Nathan's Famous posts mixed Q1 results
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.
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