NEW YORK--(BUSINESS WIRE)--Ark Restaurants Corp. (NASDAQ:ARKR) today reported financial results for the fourth quarter and fiscal year ended September 27, 2025.

紐約 --（商業資訊）--Ark Restaurants Corp.（納斯達克：ARKR）今天公佈了截至2025年9月27日的第四季度和財政年度的財務業績。

The Company’s fiscal year ends on the Saturday nearest September 30. The fiscal years ended September 27, 2025 and September 28, 2024 both included 52 weeks and the quarters ended September 27, 2025 and September 28, 2024 both included 13 weeks.

公司的財政年度在最接近 9 月 30 日的星期六結束。2025年9月27日和2024年9月28日結束的財政年度均包含 52 周，而截至2025年9月27日和2024年9月28日的季度均包含 13 周。

"The current quarter showed negative Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"), as adjusted, of $1,071,000, down from positive EBITDA, as adjusted, of $503,000 in the prior year comparable quarter, due in large part to the expense of our ongoing litigation involving our Bryant Park operations which exceeded $400,000 in the quarter," said Michael Weinstein, Chairman and Chief Executive Officer. "Net loss attributable to Ark Restaurants Corp. for the current quarter was $(1,919,000) or $(0.53) per basic and diluted share compared to a net loss of $(4,457,000) or $(1.24) per basic and diluted share, in the prior year comparable quarter. Also, because the outcome and timing of the litigation cannot be predicted with certainty, our event business at the Bryant Park Grill has suffered which has impacted our revenue and cash flow. In addition, the D.C. market has been a difficult environment for us and most restaurants, but we remain committed to this location. The rest of our portfolio performed well. Significantly, our operations at the New York-New York Hotel and Casino in Las Vegas continued to show increased cash flow despite lower customer traffic on the Las Vegas Strip. Our Rustic Inn property in Florida and Robert in NYC continue to perform better than last year and the rest of our portfolio restaurants continue to meet expectations. Further, our Balance Sheet remains strong, supporting future growth."

“當前季度的調整後息税折舊攤銷前利潤（‘EBITDA’）為負$1,071,000，較去年同期的調整後正 EBITDA $503,000 下降，這主要是由於我們在布萊恩特公園運營中持續訴訟的費用超過了$400,000，” 董事長兼首席執行官邁克爾·温斯坦表示。“本季度歸屬於 Ark Restaurants Corp.的淨虧損為$(1,919,000)，即每股基本和稀釋後$(0.53)，相比之下，去年同期的淨虧損為$(4,457,000)，即每股基本和稀釋後$(1.24)。此外，由於訴訟的結果和時間無法確定，我們在布萊恩特公園餐廳的活動業務受到了影響，進而影響了我們的收入和現金流。此外，華盛頓特區市場對我們和大多數餐廳來説都是一個困難的環境，但我們仍然致力於這個地點。我們其餘的投資組合表現良好。值得注意的是，我們在拉斯維加斯的紐約 - 紐約酒店和賭場的運營儘管拉斯維加斯大道的顧客流量較低，但現金流仍持續增加。我們在佛羅里達的 Rustic Inn 和紐約的 Robert 的表現也優於去年，其餘餐廳繼續達到預期。此外，我們的資產負債表依然強勁，支持未來的增長。”

Financial Results

財務業績

As of September 27, 2025, the Company had cash and cash equivalents of $11,324,000 and total outstanding debt of $3,609,000.

截至2025年9月27日，公司擁有現金及現金等價物$11,324,000，未償還債務總額為$3,609,000。

Total revenues for the 13 weeks ended September 27, 2025 were $37,323,000 versus $43,406,000 for the 13 weeks ended September 28, 2024. No revenues for El Rio Grande and the Tampa Food Court (see below) are included in the 13 weeks ended September 27, 2025. The 13 weeks ended September 28, 2024 includes revenues of $812,000 and $1,239,000 related to El Rio Grande and the Tampa Food Court, respectively. Excluding revenues related to El Rio Grande and the Tampa Food Court, revenues for the 13 weeks ended September 28, 2024 were $41,355,000.

截至2025年9月27日的 13 周總收入為$37,323,000，而截至2024年9月28日的 13 周總收入為$43,406,000。2025年9月27日的 13 周內未包含_El Rio Grande_和_坦帕美食廣場_的收入（見下文）。截至2024年9月28日的 13 周內包含與_El Rio Grande_和_坦帕美食廣場_相關的收入分別為$812,000 和$1,239,000。排除與_El Rio Grande_和_坦帕美食廣場_相關的收入，2024年9月28日的 13 周收入為$41,355,000。

Total revenues for the year ended September 27, 2025 were $165,751,000 versus $183,545,000 for the year ended September 28, 2024. No revenues for El Rio Grande are included in the year ended September 27, 2025 and the year ended September 27, 2025 includes revenues of $974,000 related to the Tampa Food Court. The year ended September 28, 2024 includes revenues of $3,185,000 and $5,241,000 related to El Rio Grande and the Tampa Food Court, respectively. Excluding revenues related to El Rio Grande and the Tampa Food Court, revenues for the year ended September 28, 2024 were $175,118,000.

截至2025年9月27日的年度總收入為$165,751,000，而截至2024年9月28日的年度總收入為$183,545,000。2025年9月27日的年度內未包含_El Rio Grande_的收入，而2025年9月27日的年度內包含與_坦帕美食廣場_相關的收入為$974,000。2024年9月28日的年度內包含與_El Rio Grande_和_坦帕美食廣場_相關的收入分別為$3,185,000 和$5,241,000。排除與_El Rio Grande_和_坦帕美食廣場_相關的收入，2024年9月28日的年度收入為$175,118,000。

Excluding revenues related to El Rio Grande and the Tampa Food Court, Company-wide same store sales decreased 10.1% and 4.2% for the 13 and 52 weeks ended September 27, 2025 as compared to the same periods of last year. These decreases were attributable primarily to decreases in both catering and a la carte revenue at the Bryant Park Grill as a result of the negative publicity related to our dispute with the landlord as well as lower traffic in Las Vegas.

排除與_El Rio Grande_和_坦帕美食廣場_相關的收入，公司整體同店銷售在截至2025年9月27日的 13 周和 52 周內分別下降了 10.1% 和 4.2%，與去年同期相比。這些下降主要歸因於由於與房東的爭議相關的負面宣傳以及拉斯維加斯的客流量下降，導致_布萊恩特公園餐廳_的餐飲和單點收入下降。

The Company's EBITDA, as adjusted, for the 13 weeks ended September 27, 2025 was $(1,071,000) versus $503,000 for the 13 weeks ended September 28, 2024. Net loss attributable to Ark Restaurants Corp. for the 13 weeks ended September 27, 2025 was $(1,919,000) or $(0.53) per basic and diluted share compared to a net loss of $(4,457,000) or $(1.24) per basic and diluted share, for the 13 weeks ended September 28, 2024.

截至2025年9月27日的 13 周內，公司調整後的 EBITDA 為$(1,071,000)，而截至2024年9月28日的 13 周內為$503,000。歸屬於 Ark Restaurants Corp.的淨虧損為$(1,919,000)，即每股基本和稀釋後$(0.53)，相比之下，2024年9月28日的 13 周內淨虧損為$(4,457,000)，即每股基本和稀釋後$(1.24)。

The Company's EBITDA, as adjusted, for the 52 weeks ended September 27, 2025 was $1,407,000 versus $6,128,000 for the 52 weeks ended September 28, 2024. Net loss attributable to Ark Restaurants Corp. for the 52 weeks ended September 27, 2025, which includes a full valuation allowance related to our deferred tax assets in the amount of $4,799,000, was $(11,466,000) or $(3.18) per basic and diluted share compared to a net loss of $(3,896,000) or $(1.08) per basic and diluted share, for the 52 weeks ended September 28, 2024.

截至2025年9月27日的 52 周內，公司調整後的 EBITDA 為$1,407,000，而截至2024年9月28日的 52 周內為$6,128,000。歸屬於 Ark Restaurants Corp.的淨虧損為$(11,466,000)，即每股基本和稀釋後$(3.18)，其中包括與我們的遞延税資產相關的全額估值準備金$4,799,000，而2024年9月28日的 52 周內淨虧損為$(3,896,000)，即每股基本和稀釋後$(1.08)。

EBITDA is a Non-GAAP Financial Measure, accordingly, please see the table attached to this news release for the details of the adjustments made in arriving at EBITDA, as adjusted, for each period presented and "Non-GAAP Financial Information" at the end of this news release.

EBITDA 是一項非公認會計原則財務指標，因此，請參見本新聞稿附帶的表格，以獲取每個報告期調整後 EBITDA 的詳細調整信息，以及本新聞稿末尾的 “非公認會計原則財務信息”。

Other Matters

其他事項

Bryant Park Grill & Cafe and The Porch at Bryant Park Leases

布萊恩特公園餐廳與咖啡館及布萊恩特公園露台租約

The Company's agreements with the Bryant Park Corporation (the “Landlord”) (a private non-profit corporation that operates and maintains Bryant Park under agreements with the City of New York Department of Parks & Recreation), for the Bryant Park Grill & Café expired on April 30, 2025 and for The Porch at Bryant Park expired on March 31, 2025.

公司與布萊恩特公園公司（“房東”）（一家根據與紐約市公園與娛樂部的協議運營和維護布萊恩特公園的私人非營利公司）簽訂的_布萊恩特公園餐廳與咖啡館_的協議於2025年4月30日到期，_布萊恩特公園露台_的協議於2025年3月31日到期。

In July of 2023 (for the Bryant Park Grill & Café) and September of 2023 (for The Porch at Bryant Park), the Company received requests for proposals (the "RFPs") from the Landlord to which we responded on October 26, 2023. The agreements offered under the RFPs for both locations were for new 10-year agreements, with one five-year renewal option. In the second quarter of 2025, the Landlord stated publicly that it had selected a new operator for the Bryant Park Grill & Café and The Porch at Bryant Park. However, to the best of our knowledge, no agreements between the Landlord and the selected operator have received the approvals of either the City of New York Department of Parks & Recreation or the New York Public Library, of which both approvals are required before any new lease can become effective.

在 2023 年 7 月（針對_Bryant Park Grill & Café_）和 2023 年 9 月（針對_The Porch at Bryant Park_），公司收到了來自房東的提案請求（"RFPs"），我們於2023年10月26日作出了回應。針對這兩個地點的 RFP 所提供的協議為新的 10 年協議，並附帶一個五年的續約選項。在 2025 年第二季度，房東公開表示已選擇了_Bryant Park Grill & Café_和_The Porch at Bryant Park_的新運營商。然而，據我們所知，房東與所選運營商之間尚未獲得紐約市公園與娛樂部或紐約公共圖書館的批准，而這兩項批准是任何新租約生效前所必需的。

Management has been working with outside advisors to assist our efforts to ensure that the RFP awards process was both fair and transparent and to enforce the Company's right of first lease under our lease agreements, and otherwise to protect the Company’s rights with respect to these matters.

管理層一直在與外部顧問合作，以確保 RFP 授予過程既公平又透明，並維護公司在租賃協議下的優先租賃權，以及在其他方面保護公司的權利。

As of the date of this filing, we continue to operate the above properties and intend to do so until we are either awarded the lease extensions or ordered to vacate the premises. The underlying lawsuit filed by the Company to protect its rights continues, and we will pursue all available options to protect the Company's interests.

截至本文件提交之日，我們繼續運營上述物業，並打算在獲得租約延長或被要求騰退場地之前繼續運營。公司為保護其權利而提起的基礎訴訟仍在進行中，我們將追求所有可用的選項以保護公司的利益。

Management, after consultation with legal counsel, is unable to predict the outcome of this matter at this time. While the outcome of these proceedings cannot be predicted with certainty, the Bryant Park Grill & Cafe and The Porch at Bryant Park, collectively, accounted for $25.5 million and $31.1 million of our total revenues for the years ended September 27, 2025 and September 28, 2024, respectively, which represented approximately 15.4% and 17.4% of our total revenue for such periods, respectively.

管理層在諮詢法律顧問後，目前無法預測此事的結果。雖然這些訴訟的結果無法確定，但_Bryant Park Grill & Café_和_The Porch at Bryant Park_合計在截至2025年9月27日和2024年9月28日的年度中分別佔我們總收入的 2550 萬美元和 3110 萬美元，分別約佔該期間總收入的 15.4% 和 17.4%。

The uncertainty related to this dispute has had a material adverse impact on our business, financial condition, and results of operations and will continue to do so while the dispute is litigated and if we are unable to prevail in the above actions and/or are unable to extend or renew these leases on favorable terms, if at all.

與此爭議相關的不確定性對我們的業務、財務狀況和經營成果產生了重大不利影響，並將在爭議訴訟期間持續存在，如果我們無法在上述行動中勝訴和/或無法以有利條款延長或續簽這些租約。

Investment in and Receivable From New Meadowlands Racetrack LLC

對新梅多蘭賽馬場有限責任公司的投資及應收款

Since March 12, 2013, the Company has made investments in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of membership interests in Meadowlands Newmark, LLC, an existing member of NMR. As of the date of this report, the Company has made a total investment of $5,256,000.

自2013年3月12日起，公司通過購買梅多蘭德紐馬克有限責任公司的會員權益對新梅多蘭賽馬場有限責任公司（“NMR”）進行了投資。截止本報告日期，公司總投資額為 525.6 萬美元。

For several years, New York State has been conducting a bidding process to award up to three downstate casino licenses and on December 1, 2025, the New York State Gaming Facility Location Board approved three applications for casino gaming licenses. The New York State Gaming Commission is expected to issue licenses for the three approved applications by December 31, 2025. Concurrent with the New York process, NMR has been actively pursuing a full casino license to supplement its existing horse racing and sports betting operations. Any gaming license in the state of New Jersey outside of Atlantic City, including at the Meadowlands Racetrack, requires ratification of an amendment to the State of New Jersey constitution, followed by issuance of a license by the New Jersey Casino Control Commission. In May 2025, a Senate Concurrent Resolution was introduced proposing a ballot referendum to authorize casinos at both the Monmouth Park and Meadowlands Racetracks. It requires a three-fifths vote in both legislative chambers to reach the ballot in November 2026. If the referendum passes, NMR aims for a temporary facility potentially opening in 2027 and a permanent one by 2028. In conjunction with such referendum, NMR will need to raise substantial capital to fund a marketing campaign to support the passage of the referendum. To the extent the Company does not contribute to this effort, or if NMR raises outside capital, our interests will be diluted.

多年來，紐約州一直在進行競標程序，以授予最多三個下州賭場許可證，並且在2025年12月1日，紐約州博彩設施選址委員會批准了三份賭場博彩許可證申請。預計紐約州博彩委員會將在2025年12月31日前發放這三份批准申請的許可證。與紐約的進程同時，NMR 一直在積極追求全面的賭場許可證，以補充其現有的賽馬和體育博彩業務。在新澤西州大西洋城以外的任何博彩許可證，包括梅多蘭賽馬場，都需要對新澤西州憲法的修正案進行批准，然後由新澤西州賭場控制委員會發放許可證。在 2025 年 5 月，提出了一項參議院共同決議，建議進行公投以授權在蒙茅斯公園和梅多蘭賽馬場設立賭場。該提案需要在兩個立法機構中獲得三分之二的投票才能在 2026 年 11 月的選票上出現。如果公投通過，NMR 計劃在 2027 年開設一個臨時設施，並在 2028 年開設一個永久設施。與該公投相關，NMR 需要籌集大量資金以支持公投的營銷活動。如果公司未能對此作出貢獻，或如果 NMR 籌集外部資金，我們的權益將被稀釋。

There can be no assurances that above referendum will be included in the November 2026 election ballot or that it will pass if it is included. If either of these do not occur, the Company’s investment in NMR will be evaluated based on the existing horse racing and sports betting operations and may be subject to substantial impairment.

不能保證上述公投將被納入 2026 年 11 月的選舉選票，或如果被納入將會通過。如果這兩者中的任何一項未能發生，公司在 NMR 的投資將根據現有的賽馬和體育博彩業務進行評估，並可能面臨重大減值。

Loss on the Closure of El Rio Grande

關閉 El Rio Grande 的損失

In October 2024, the Company advised the landlord of El Rio Grande we would be terminating the lease and closing the property permanently. In connection with this notification, the Company recorded a loss of $876,000 during the year ended September 28, 2024. The property closed permanently on January 3, 2025 and was vacated and delivered to the landlord on April 30, 2025. During the year ended September 27, 2025, the Company recognized a gain in the amount of $173,000 as a result of refinements of estimates.

在 2024 年 10 月，公司通知_El Rio Grande_的房東我們將終止租約並永久關閉該物業。與此通知相關，公司在截至2024年9月28日的年度中記錄了 87.6 萬美元的損失。該物業於2025年1月3日永久關閉，並於2025年4月30日騰退並交還給房東。在截至2025年9月27日的年度中，公司因估算的修正而確認了 17.3 萬美元的收益。

Gain on Termination of Tampa Food Court Lease

終止坦帕美食廣場租約的收益

On November 26, 2024, the Company agreed to terminate its lease for the food court at The Hard Rock Hotel and Casino in Tampa, FL and, accordingly, vacated the premises on December 15, 2024. In connection with this, Ark Hollywood/Tampa Investment LLC, a subsidiary of the Company, (in which we own a 65% interest) received a termination payment in the amount of $5,500,000, all obligations under the lease ceased and we recorded a gain, net of expenses, in the amount of $5,235,000 during the year ended September 27, 2025.

在2024年11月26日，公司同意終止在佛羅里達州坦帕的硬石酒店和賭場的美食廣場租約，並因此於2024年12月15日騰退該場所。與此相關，公司的子公司 Ark Hollywood/Tampa Investment LLC（我們持有 65% 的股份）收到了 550 萬美元的終止付款，所有租約下的義務終止，我們在截至2025年9月27日的年度中記錄了淨收益，扣除費用後為 523.5 萬美元。

Impairment Losses on Right-of-Use and Long-lived Assets

使用權和長期資產的減值損失

During the year ended September 28, 2024, impairment indicators were identified at our Sequoia property located in Washington, D.C. due to lower-than-expected operating results. Accordingly, the Company tested the recoverability of Sequoia's ROU and long-lived assets and concluded they were not recoverable. Based on a discounted cash flow analysis, the Company recognized impairment charges of $1,561,000 and $939,000 related to Sequoia's ROU assets and long-lived assets, respectively. The Company continued to monitor the performance of Sequoia throughout fiscal 2025 and, as a result of lower than expected operating results we tested the recoverability of its ROU and long-lived assets again and based on a discounted cash flow analysis, we recognized additional impairment charges of $2,940,000 and $1,760,000 during the year ended September 27, 2025 related to Sequoia's ROU and long-lived assets, respectively.

截至2024年9月28日，我們位於華盛頓特區的_Sequoia_物業出現了減值跡象，原因是運營結果低於預期。因此，公司對_Sequoia_的使用權資產和長期資產進行了可回收性測試，並得出結論認為這些資產不可回收。根據折現現金流分析，公司確認了與_Sequoia_的使用權資產和長期資產相關的減值費用，分別為 1,561,000 美元和 939,000 美元。公司在 2025 財年繼續監測_Sequoia_的表現，因運營結果低於預期，我們再次測試了其使用權資產和長期資產的可回收性，並根據折現現金流分析，在截至2025年9月27日的年度內，確認了與_Sequoia_的使用權和長期資產相關的額外減值費用，分別為 2,940,000 美元和 1,760,000 美元。

Goodwill Impairment

商譽減值

Goodwill is the excess of cost over fair market value of tangible and intangible net assets acquired. Goodwill is not presently amortized but tested for impairment annually or when the facts or circumstances indicate a possible impairment of goodwill as a result of a continual decline in performance or as a result of fundamental changes in a market.

商譽是收購的有形和無形淨資產的公允市場價值與成本之間的差額。商譽目前不進行攤銷，但每年進行減值測試，或在事實或情況表明可能因持續業績下降或市場的根本變化而導致商譽減值時進行測試。

In accordance with ASU 350-20, Intangibles—Goodwill and Other, the Company identified a triggering event during the three months ended March 29, 2025 primarily related to a decline in the Company's stock price during the second quarter of fiscal 2025 and the continued uncertainty related to the expiration of the Bryant Park Grill & Cafe and The Porch at Bryant Park leases. As a result, the Company performed an interim quantitative impairment test and based on the results of the assessment, the fair value of our equity was determined to be less than its carrying amount. Accordingly, the Company recognized a non-cash impairment charge of the remaining balance of its goodwill in the amount of $3,440,000 in our consolidated statement of operations for the year ended September 27, 2025.

根據 ASU 350-20，無形資產—商譽及其他，公司在截至2025年3月29日的三個月內識別出一個觸發事件，主要與公司在 2025 財年第二季度股價的下跌以及與_Bryant Park Grill & Cafe_和_The Porch at Bryant Park_租約到期相關的持續不確定性有關。因此，公司進行了臨時定量減值測試，基於評估結果，我們的股權公允價值被確定為低於其賬面價值。因此，公司在截至2025年9月27日的合併運營報表中確認了剩餘商譽的非現金減值費用，金額為 3,440,000 美元。

As of September 28, 2024, the Company performed a qualitative assessment of it's goodwill whereby the fair value of the equity was determined using the income approach. Given the relatively low volume of shares traded as of September 28, 2024, the Company determined the income approach provided the best approximation of fair value. In the income approach, we utilized a discounted cash flow analysis, which involved estimating the expected future after-tax cash flows generated and then discounting those cash flows to present value, reflecting the relevant risks associated with the achievement of projected cash flows, the possibility that the Bryant Park Grill & Cafe and The Porch at Bryant Park leases may not be renewed beyond their expirations on April 30, 2025, and the time value of money. This approach required the use of significant estimates and assumptions, including forecasted revenue growth rates, forecasted cash flows from operations, and discount rates that reflect the risk inherent in the future cash flows. Based on the impairment analysis, the carrying amount of our equity exceeded its estimated fair value, which indicated an impairment of the carrying value of our goodwill at September 28, 2024. Accordingly, during the fourth quarter of fiscal 2024, the Company recorded a goodwill impairment charge of $4,000,000, of which $4,000,000 was deductible for tax purposes and resulted in a deferred income tax benefit of $1,074,000. Such impairment was attributed to factors such as, but not limited to, a decrease in the market price of the Company's common stock and lower than expected profitability.

截至2024年9月28日，公司對其商譽進行了定性評估，公允價值是通過收益法確定的。鑑於截至2024年9月28日交易的股票數量相對較低，公司認為收益法提供了最佳的公允價值近似。在收益法中，我們利用了折現現金流分析，這涉及估計未來的税後現金流，並將這些現金流折現為現值，反映與實現預測現金流相關的風險、_Bryant Park Grill & Cafe_和_The Porch at Bryant Park_租約可能在2025年4月30日到期後不再續約的可能性，以及貨幣的時間價值。該方法需要使用重要的估計和假設，包括預測的收入增長率、預測的運營現金流和反映未來現金流固有風險的折現率。根據減值分析，我們的股權賬面價值超過其估計公允價值，這表明截至2024年9月28日我們的商譽賬面價值存在減值。因此，在 2024 財年第四季度，公司記錄了 4,000,000 美元的商譽減值費用，其中 4,000,000 美元可用於税務抵扣，導致 1,074,000 美元的遞延所得税收益。此減值歸因於多種因素，包括但不限於公司普通股市場價格的下降和低於預期的盈利能力。

Conference Call and Webcast Information

電話會議和網絡直播信息

Ark Restaurants will host a conference call on December 16, 2025 at 11:00 a.m. Eastern Time to review these results and discuss other topics.

Ark Restaurants 將於2025年12月16日上午 11:00（東部時間）召開電話會議，以審查這些結果並討論其他主題。

The call can be accessed by dialing toll-free 1-877-407-4018 (Toll/International: 1-201-689-8471).

撥打免費電話 1-877-407-4018（國際/長途：1-201-689-8471）即可訪問會議。

The dial-in numbers to participate in the conference call are the following:

參與電話會議的撥入號碼如下：

Toll-Free: 1-877-407-4018

免費電話：1-877-407-4018

Toll/International: 1-201-689-8471

國際/長途：1-201-689-8471

A participant webcast of the call will be available by copying and pasting the following URL into your browser: https://callme.viavid.com/viavid/?callme=true&passcode=13716421&h=true&info=company&r=true&B=6. Participants can use the Guest dial-in numbers noted above and be answered by an operator OR click the Call meTM link for instant telephone access to the event. Please note the Call meTM link will be made active 15 minutes prior to scheduled start time.

參與者可以通過將以下 URL 複製並粘貼到瀏覽器中來訪問會議的網絡直播：https://callme.viavid.com/viavid/?callme=true&passcode=13716421&h=true&info=company&r=true&B=6。參與者可以使用上述的來賓撥入號碼與接線員聯繫，或點擊 Call meTM 鏈接以即時電話訪問該活動。請注意，Call meTM 鏈接將在預定開始時間前 15 分鐘激活。

A live listen-only webcast of the call will be available by copying and pasting the following URL into your browser: https://viavid.webcasts.com/starthere.jsp?ei=1745758&tp_key=64a6eab6d1. A replay will be available approximately three hours following the call by dialing toll-free 1-844-512-2921 (Toll/International: 1-412-317-6671) using Access ID 13757449. The replay will be available until Tuesday, December 23, 2025, 11:59 p.m. Eastern Time.

通過將以下 URL 複製並粘貼到瀏覽器中，可以訪問會議的實時收聽網絡直播：https://viavid.webcasts.com/starthere.jsp?ei=1745758&tp_key=64a6eab6d1。會議結束後大約三個小時內將提供重播，撥打免費電話 1-844-512-2921（國際/長途：1-412-317-6671），使用訪問 ID 13757449。重播將持續到2025年12月23日星期二晚上 11:59（東部時間）。

About Ark Restaurants Corp.

關於 Ark Restaurants Corp.

Ark Restaurants owns and operates 16 restaurants and bars, 12 fast food concepts and catering operations primarily in New York City, Florida, Washington, DC, Las Vegas, Nevada and the gulf coast of Alabama. Two restaurants are located in New York City, one is located in Washington, DC, five are located in Las Vegas, Nevada, one is located in Atlantic City, New Jersey, four are located on the east coast of Florida and two are located on the Gulf Coast of Alabama. The Las Vegas operations include four restaurants within the New York-New York Hotel & Casino Resort and operation of the hotel's room service, banquet facilities, employee dining room and six food court concepts and one restaurant within the Planet Hollywood Resort and Casino. In Atlantic City, New Jersey, the Company operates a restaurant in the Tropicana Hotel and Casino. The Florida operations include the Rustic Inn in Dania Beach, Shuckers in Jensen Beach, JB’s on the Beach in Deerfield Beach, The Blue Moon Fish Company in Lauderdale-by-the-Sea and the operation of six fast food facilities in Hollywood at the Hard Rock Hotel and Casino.

Ark Restaurants 擁有並經營 16 家餐廳和酒吧，12 個快餐概念以及主要位於紐約市、佛羅里達州、華盛頓特區、內華達州拉斯維加斯和阿拉巴馬州海灣沿岸的餐飲業務。兩家餐廳位於紐約市，一家位於華盛頓特區，五家位於內華達州拉斯維加斯，一家位於新澤西州大西洋城，四家位於佛羅里達州東海岸，兩家位於阿拉巴馬州海灣沿岸。拉斯維加斯的業務包括在紐約 - 紐約酒店和賭場度假村內的四家餐廳，以及酒店的客房服務、宴會設施、員工餐廳和六個美食廣場概念，以及在好萊塢度假村和賭場內的一家餐廳。在新澤西州大西洋城，公司在特羅皮卡納酒店和賭場經營一家餐廳。佛羅里達州的業務包括位於丹尼亞海灘的 Rustic Inn、位於詹森海灘的 Shuckers、位於德爾雷海灘的 JB’s on the Beach、位於勞德代爾堡的 The Blue Moon Fish Company 以及在好萊塢的硬石酒店和賭場經營的六個快餐設施。

Cautionary Note Regarding Forward-Looking Statements

關於前瞻性聲明的警示説明

Certain statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or the Company’s future financial or operating performance and may be identified by words such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” or similar words. Such statements include, but are not limited to, statements about the Company’s future financial or operating performance, statements about Bryant Park Grill & Café and The Porch at Bryant Park, including the Company’s plan to operate the restaurants until the Company is either awarded the lease extensions or ordered to vacate the premises and the Company’s expectation of pursuing all available options to protect the Company’s interests, statements about the Company’s ability to realize the benefits expected from its investment in New Meadowlands Racetrack LLC, and any indication that the Company may be able to sustain or increase its sales, earnings or earnings per share, or its sales, earnings or earnings per share growth rates. Such forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (i) the adverse impact of the current political climate and current and future economic conditions, including inflation, on our: (a) operating results, cash flows and financial condition; (b) ability to comply with the terms and covenants of our debt agreements; (c) ability to pay or refinance our existing debt or to obtain additional financing; and (d) projected cash flows used in assessing assets for impairment, (ii) our ability to open new restaurants in new and existing markets, including difficulty in finding sites and in negotiating acceptable leases, (iii) vulnerability to changes in consumer preferences and economic conditions, (iv) our ability to extend existing leases on favorable terms, if at all, (v) our ability to renew expired leases on favorable terms, if at all, including for Bryant Park Grill & Café which expired on April 30, 2025 and for The Porch at Bryant Park which expired on March 31, 2025, (vi) our ability to realize the expected benefits associated with our investment in the New Meadowlands Racetrack LLC, if at all, and (vii) other risks and uncertainties set forth in the sections entitled "Risk Factors" and “Special Note Regarding Forward-Looking Statements” in the Company's filings with the Securities and Exchange Commission ("SEC"), which are available on the SEC's website at www.sec.gov. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company’s expectations or any change in events, conditions, or circumstances on which any such statement is based. Forward-looking statements are also subject to the risks and other issues described below under “Non-GAAP Financial Information,” which could cause actual results to differ materially from current expectations included in the Company’s forward-looking statements included in this press release.

本新聞稿中的某些聲明可能被視為《1933 年證券法》第 27A 條和《1934 年證券交易法》第 21E 條所定義的 “前瞻性聲明”。前瞻性聲明通常與未來事件或公司的未來財務或運營表現相關，並可能通過 “可能”、“應該”、“期望”、“打算”、“將”、“估計”、“預期”、“相信”、“預測” 或類似詞語來識別。這些聲明包括但不限於關於公司未來財務或運營表現的聲明，關於 Bryant Park Grill & Café 和 The Porch at Bryant Park 的聲明，包括公司計劃在獲得租約延期或被要求搬離之前繼續經營這些餐廳，以及公司期望採取所有可用選項以保護公司利益的聲明，關於公司實現其對新梅多蘭賽馬場 LLC 投資預期收益的能力的聲明，以及任何表明公司可能能夠維持或增加其銷售、收益或每股收益，或其銷售、收益或每股收益增長率的跡象。這些前瞻性聲明基於公司截至本日期所做的假設，並受到風險、不確定性和其他因素的影響，這些因素可能導致實際結果與這些前瞻性聲明所表達或暗示的結果存在重大差異。可能導致實際結果與當前預期存在重大差異的因素包括但不限於：(i) 當前政治氣候及當前和未來經濟條件（包括通貨膨脹）對我們的：(a) 運營結果、現金流和財務狀況的負面影響；(b) 遵守債務協議條款和契約的能力；(c) 支付或再融資現有債務或獲得額外融資的能力；以及 (d) 用於評估資產減值的預測現金流；(ii) 我們在新市場和現有市場開設新餐廳的能力，包括尋找地點和談判可接受租約的困難；(iii) 對消費者偏好和經濟條件變化的脆弱性；(iv) 我們在有利條件下延長現有租約的能力（如果有的話）；(v) 我們在有利條件下續簽已到期租約的能力（如果有的話），包括 Bryant Park Grill & Café 的租約於2025年4月30日到期，The Porch at Bryant Park 的租約於2025年3月31日到期；(vi) 我們實現與對新梅多蘭賽馬場 LLC 投資相關的預期收益的能力（如果有的話）；以及 (vii) 在公司向證券交易委員會（“SEC”）提交的文件中列出的 “風險因素” 和 “關於前瞻性聲明的特別説明” 部分中列出的其他風險和不確定性，這些文件可在 SEC 網站 www.sec.gov 上獲取。公司明確聲明沒有任何義務或承諾公開發布任何此類聲明的更新或修訂，以反映公司預期的任何變化或任何此類聲明所基於的事件、條件或情況的變化。前瞻性聲明還受到 “非公認會計原則財務信息” 下描述的風險和其他問題的影響，這可能導致實際結果與公司在本新聞稿中包含的前瞻性聲明中的當前預期存在重大差異。

Non-GAAP Financial Information

非公認會計原則財務信息

This news release includes non-generally accepted accounting principles ("GAAP") performance measures. Although EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP, the Company believes the use of this non-GAAP financial measure enhances an overall understanding of the Company's past financial performance as well as providing useful information to the investor because of its historical use by the Company as both a performance measure and measure of liquidity, and the use of EBITDA by virtually all companies in the restaurant sector as a measure of both performance and liquidity. However, investors should not consider this measure in isolation or as a substitute for net income (loss), operating income (loss), cash flows from operating activities or any other measure for determining the Company's operating performance or liquidity that is calculated in accordance with GAAP as it may not necessarily be comparable to similarly titled measure employed by other companies.

本新聞稿包括非公認會計原則（“GAAP”）的業績指標。儘管 EBITDA 不是根據 GAAP 計算的業績或流動性指標，但公司認為使用這一非 GAAP 財務指標有助於全面理解公司的過去財務表現，併為投資者提供有用的信息，因為公司歷史上將其作為業績和流動性指標使用，幾乎所有餐飲行業的公司也將 EBITDA 作為業績和流動性指標。然而，投資者不應孤立地考慮這一指標，也不應將其視為淨收入（虧損）、營業收入（虧損）、經營活動現金流或任何其他根據 GAAP 計算的用於確定公司運營表現或流動性的指標的替代品，因為它可能不一定可與其他公司採用的類似標題的指標進行比較。


ARK RESTAURANTS CORP.
Consolidated Statements of Operations
(In Thousands, Except per share amounts)
	13 Weeks Ended September 27, 2025		13 Weeks Ended September 28, 2024	52 Weeks Ended September 27, 2025		52 Weeks Ended September 28, 2024

TOTAL REVENUES	$	37,323		$	43,406		$	165,751		$	183,545
COSTS AND EXPENSES:
Food and beverage cost of sales		10,777			12,007			46,427			49,519
Payroll expenses		14,242			15,875			60,346			65,844
Occupancy expenses		5,399			6,254			22,527			24,622
Other operating costs and expenses		5,222			5,892			22,644			24,125
General and administrative expenses		2,709			3,112			12,001			12,263
Depreciation and amortization		696			909			3,138			4,090
(Gain) loss on closure of El Rio Grande		—			876			(173	)		876
Gain on termination of Tampa Food Court lease		—			—			(5,235	)		—
Impairment losses on right-of-use and long-lived assets		—			—			4,700			2,500
Goodwill impairment		—			4,000			3,440			4,000
Total costs and expenses		39,045			48,925			169,815			187,839
OPERATING LOSS		(1,722	)		(5,519	)		(4,064	)		(4,294	)
OTHER (INCOME) EXPENSE:
Interest expense, net		76			129			369			577
Other income		—			—			—			(26	)
Gain on sale of condominiums		(203	)		—			(594	)		—
Gain on forgiveness of PPP Loans		—			—			—			(285	)
Total other (income) expense, net		(127	)		129			(225	)		266
LOSS BEFORE BENEFIT FOR INCOME TAXES		(1,595	)		(5,648	)		(3,839	)		(4,560	)
Provision (benefit) for income taxes		305			(613	)		5,324			(815	)
CONSOLIDATED NET LOSS		(1,900	)		(5,035	)		(9,163	)		(3,745	)
Net (income) loss attributable to non-controlling interests		(19	)		578			(2,303	)		(151	)
NET LOSS ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$	(1,919	)	$	(4,457	)	$	(11,466	)	$	(3,896	)

NET LOSS PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic	$	(0.53	)	$	(1.24	)	$	(3.18	)	$	(1.08	)
Diluted	$	(0.53	)	$	(1.24	)	$	(3.18	)	$	(1.08	)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic		3,605			3,604			3,605			3,604
Diluted		3,605			3,604			3,605			3,604

EBITDA Reconciliation:
Loss before benefit for income taxes	$	(1,595	)	$	(5,648	)	$	(3,839	)	$	(4,560	)
Depreciation and amortization		696			909			3,138			4,090
Interest expense, net		76			129			369			577
EBITDA (a)	$	(823	)	$	(4,610	)	$	(332	)	$	107
EBITDA, adjusted:
EBITDA (as defined) (a)	$	(823	)	$	(4,610	)	$	(332	)	$	107
Non-cash stock option activity		(26	)		(341	)		34			(919	)
(Gain) loss on closure of El Rio Grande		—			876			(173	)		876
Gain on termination of Tampa Food Court lease, net of non-controlling interests		—			—			(3,365	)		—
Impairment losses on right-of-use and long-lived assets		—			—			4,700			2,500
Goodwill impairment		—			4,000			3,440			4,000
Gain on sale of condominiums		(203	)		—			(594	)		—
Gain on forgiveness of PPP Loans		—			—			—			(285	)
Net (income) loss attributable to non-controlling interests		(19	)		578			(2,303	)		(151	)
EBITDA, as adjusted	$	(1,071	)	$	503		$	1,407		$	6,128


ARK RESTAURANTS CORP.
合併經營報表
(以千為單位，除每股金額外)
	截至2025年9月27日的 13 周		截至2024年9月28日的 13 周	截至2025年9月27日的 52 周		截至2024年9月28日的 52 周

總收入	$	37,323		$	43,406		$	165,751		$	183,545
成本和費用：
食品和飲料銷售成本		10,777			12,007			46,427			49,519
工資費用		14,242			15,875			60,346			65,844
租賃費用		5,399			6,254			22,527			24,622
其他運營成本和費用		5,222			5,892			22,644			24,125
一般和行政費用		2,709			3,112			12,001			12,263
折舊和攤銷		696			909			3,138			4,090
El Rio Grande 關閉損失		—			876			(173	)		876
Tampa Food Court 租約終止收益		—			—			(5,235	)		—
使用權和長期資產減值損失		—			—			4,700			2,500
商譽減值		—			4,000			3,440			4,000
總成本和費用		39,045			48,925			169,815			187,839
運營損失		(1,722	)		(5,519	)		(4,064	)		(4,294	)
其他（收入）費用：
利息費用，淨額		76			129			369			577
其他收入		—			—			—			(26	)
公寓銷售收益		(203	)		—			(594	)		—
PPP 貸款豁免收益		—			—			—			(285	)
總其他（收入）費用，淨額		(127	)		129			(225	)		266
税前損失		(1,595	)		(5,648	)		(3,839	)		(4,560	)
所得税準備（收益）		305			(613	)		5,324			(815	)
合併淨損失		(1,900	)		(5,035	)		(9,163	)		(3,745	)
歸屬於非控股權益的淨（收入）損失		(19	)		578			(2,303	)		(151	)
歸屬於 ARK RESTAURANTS CORP. 的淨損失	$	(1,919	)	$	(4,457	)	$	(11,466	)	$	(3,896	)

每股 ARK RESTAURANTS CORP. 普通股淨損失：
基本	$	(0.53	)	$	(1.24	)	$	(3.18	)	$	(1.08	)
稀釋	$	(0.53	)	$	(1.24	)	$	(3.18	)	$	(1.08	)
普通股加權平均流通股數：
基本		3,605			3,604			3,605			3,604
稀釋		3,605			3,604			3,605			3,604

EBITDA 調整：
税前損失	$	(1,595	)	$	(5,648	)	$	(3,839	)	$	(4,560	)
折舊和攤銷		696			909			3,138			4,090
利息費用，淨額		76			129			369			577
EBITDA (a)	$	(823	)	$	(4,610	)	$	(332	)	$	107
調整後的 EBITDA：
EBITDA（定義如上）(a)	$	(823	)	$	(4,610	)	$	(332	)	$	107
非現金股票期權活動		(26	)		(341	)		34			(919	)
El Rio Grande 關閉損失		—			876			(173	)		876
Tampa Food Court 租約終止收益，扣除非控股權益		—			—			(3,365	)		—
使用權和長期資產減值損失		—			—			4,700			2,500
商譽減值		—			4,000			3,440			4,000
公寓銷售收益		(203	)		—			(594	)		—
PPP 貸款豁免收益		—			—			—			(285	)
歸屬於非控股權益的淨（收入）損失		(19	)		578			(2,303	)		(151	)
調整後的 EBITDA	$	(1,071	)	$	503		$	1,407		$	6,128


(a)		EBITDA is defined as earnings before interest, taxes, depreciation and amortization. A reconciliation of EBITDA to the most comparable GAAP financial measure, pre-tax income, is included above.


(a)		EBITDA 定義為利息、税項、折舊和攤銷前的收益。上述包含了 EBITDA 與最可比的 GAAP 財務指標——税前收入的調節。

View source version on businesswire.com: https://www.businesswire.com/news/home/20251215676279/en/

在 businesswire.com 上查看源版本：https://www.businesswire.com/news/home/20251215676279/en/

Anthony J. Sirica

(212) 206-8800

ajsirica@arkrestaurants.com

Source: Ark Restaurants Corp.

來源：Ark Restaurants Corp.

Ark Restaurants 公佈 2025 年第四季度及全年財務業績 | ARKR 股票新聞