USA: Ark Restaurants sees sales down, but nine month net increase 122%
New York-based Ark Restaurants Corp. has reported a drop in sales for its Q3 ended 29 June, to US$33.3m from US$36.9m in the year-earlier period. EBITDA was US$4.6m versus US$5.2m last year, and net income down to US$1.8m from US$2m in the prior years quarter. Earnings per share (EPS) were US$0.57 versus US$0.62, on a fully diluted basis. The debt balance had however been reduced to US$18.9m by the end of the Q3, compared with a debt balance of US$27m at the end of the Q3, 30 June 2001.
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