Ark Restaurants reports total revenues of $44.8m in Q3

14th August 2018 (Last Updated August 14th, 2018 15:12)

US-based dining establishments’ operator Ark Restaurants has reported total revenues of $44.8m for its third quarter ending 30 June, compared to $41.3m from the previous year.

Ark Restaurants reports total revenues of $44.8m in Q3
American eatery Bryant Park Grill is owned by Ark Restaurants. Credit: libby.

US-based dining establishments’ operator Ark Restaurants has reported total revenues of $44.8m for its third quarter ending 30 June, compared to $41.3m from the previous year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) of the restaurant chain increased to $4.77m for the three-month period, compared to $3.15m during the same period last year.

The restaurant company also reported a net income of $2.65m, compared to $1.3m for the same period last year.

Restaurant operating income of the company was $3.78m for the third quarter compared to $2.44m for the same period last year.

“Ark Restaurants currently owns and operates 20 restaurants and bars, 19 fast food concepts and catering operations.”

Company-wide same store sales of the restaurant increased by 2.3% for the third quarter, compared to the same three month period last year.

For the nine-month period ended 30 June 2018, total revenues were at $119.42m, net income was $3.64m and $7.61m was the total EBITDA from restaurant operations, adjusted for non-controlling interest.

Ark Restaurants currently owns and operates 20 restaurants and bars, 19 fast-food concepts and catering operations in New York City, Washington, Las Vegas and the gulf coast of Alabama.

The restaurant chain also operates hotel room service, banquet facilities, employee dining rooms, food court concepts and restaurants inside hotels.

Last month, the company announced its president and chief financial officer (CFO) Robert J. Stewart had passed away.

Stewart joined the company as CFO in June 2002 and was named as the president in 2013.