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Nathan's Famous Q3 revenues up, profits down slightly
February 8, 2009
WESTBURY, N.Y. — Nathan's Famous Inc.'s net income for the third quarter ended Dec. 28, 2008, was down slightly, the company has announced.
Total revenue from continuing operations increased 3.9 percent to $10.6 million as compared to $10.4 million during the quarter last year. Net income for the quarter was down 2.3 percent to $857,000, compared to $877,000 for the same quarter last year.
Year-to-date total revenue from continuing operations increased 5.9 percent to $39.2 million, compared to $37 million during the same period last year. Year-to-date net income was up 12.7 percent to $6.5 million, compared to $5.8 million last year.
During the fiscal 2008 period, Nathan's realized gains, net of tax, of $1.6 million from the sale of certain leasehold interests in Florida and from the sale of its formerly wholly-owned subsidiary, Miami Subs Corp. Total gains before income taxes were $2.5 million.
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