nathan's famous inc (NATH) Key Developments
Nathan's Famous, Inc. Proposes Offering of Senior Secured Notes Due 2020
Feb 27 15
Nathan's Famous Inc. announced that it intends to offer, subject to market and other conditions, $125.0 million aggregate principal amount of senior secured notes due 2020 in a private offering. The notes are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended and outside the United States in reliance on Regulation S under the Securities Act. The interest rate and other terms of the notes will be determined based on prevailing market conditions. The company intends to use the net proceeds of the Notes offering to pay a special dividend of up to approximately $116.0 million to stockholders of record and the remaining net proceeds for general corporate purposes, including working capital. If the notes offering is consummated, the company’s board of directors will set the record date and the payment date of the dividend following closing.
Nathan's Famous Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 28, 2014
Feb 4 15
Nathan's Famous Inc. announced unaudited earnings results for the third quarter and nine months ended December 28, 2014. For the quarter, the company reported total revenues of $22,353,000 against $18,533,000 a year ago. Net income was $2,241,000 or $0.49 per diluted share against $1,107,000 or $0.24 per diluted share a year ago.
For the nine months, the company reported total revenues of $78,974,000 against $65,596,000 a year ago. Net income was $10,166,000 or $2.21 per diluted share against $7,109,000 or $1.54 per diluted share a year ago. The increase in sales was due to the company’s Yonkers restaurant, operated for thirty-nine weeks this year and was closed for renovations for thirty-three weeks last year; the company Coney Island restaurant, which was severely damaged by Superstorm Sandy, operated for thirty-nine weeks during the current year as compared to operating for only thirty-one weeks last year; and higher sales at both Coney Island locations during the comparative periods of operations.
Inventure Foods, Inc. Expands its Licensed Nathan's Famous Inc. Snack Food Line with the Addition of Beer Battered Onion Rings
Jan 26 15
Inventure Foods Inc. has expanded its licensed Nathan's Famous snack food line with the addition of Beer Battered Onion Rings. The new snack is currently available in convenience and grocery stores nationwide in 2.0 and 3.5 ounce bags with a suggested retail price of $1.99 - $2.49 per package. Onion-flavored snacks have been a favorite flavor among consumers for some time and the flavor trend is only increasing. The new onion ring snack mirrors the Beer Battered Onion Rings found on the restaurant's menus. Nathan's Famous ready-to-eat snacks began with Cheddar Cheese Crunchy Crinkle Fries, replicating the restaurant's popular side dish, and expanded its offerings with additional flavors. Nathan's Famous Beer Battered Onion Rings provide a crispy, crunchy onion snack that looks and tastes like the real thing as a result of a proprietary extruded process that is baked instead of fried. The result is a light, yet hearty onion ring snack with only 140 calories per serving. Additionally, the snack is gluten free with zero trans fat.
Nathan's Famous Inc. Reports Unaudited Earnings Results for the Thirteen Weeks and Twenty-Six Weeks Ended September 28, 2014
Nov 5 14
Nathan's Famous Inc. reported unaudited earnings results for the thirteen weeks and twenty-six weeks ended September 28, 2014. For the thirteen weeks, the company reported that its net income increased by 45.5% to $3,854,000 as compared to $2,648,000 for the thirteen weeks ended September 29, 2013. Earnings per diluted share increased by 47.4% to $0.84 as compared to $0.57 for the thirteen weeks ended September 29, 2013. Earnings before income taxes increased by 49.3% to $6,528,000 as compared to $4,371,000 for the thirteen weeks ended September 29, 2013. Revenues increased by 22.4% to $28,953,000, as compared to $23,662,000 during the thirteen weeks ended September 29, 2013.
For the twenty-six weeks ended September 28, 2014, the company reported that its net income increased by 32.0% to $7,925,000 as compared to $6,002,000 for the twenty-six weeks ended September 29, 2013. Earnings per diluted share increased by 33.1% to $1.73 as compared to $1.30 for the twenty-six weeks ended September 29, 2013. Earnings before income taxes increased by 78.6% to $13,390,000 as compared to $7,497,000 for the twenty-six weeks ended September 29, 2013 (excluding non-routine items in 2013 relating to an insurance gain of $2,801,000 offset by an impairment charge of $400,000). Revenues increased by 20.3% to $56,621,000, as compared to $47,063,000 during the twenty-six weeks ended September 29, 2013.
Nathan's Famous Inc. Announces Unaudited Financial Results for the First Quarter Ended June 29, 2014
Aug 5 14
Nathan's Famous Inc. announced unaudited financial results for the first quarter ended June 29, 2014. For the quarter, the company reported total revenues of $27,668,000 against $23,401,000 a year ago. Net income was $4,071,000 or $0.89 per diluted share against $3,354,000 or $0.73 per diluted share a year ago.