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Press Release: Nathan's Famous, Inc. Reports -2-

· 02/05/2021 08:30
Thirteen weeks ended Thirty-nine weeks ended ------------------------ ------------------------------------------ Dec. 27, Dec. 29, Dec. 27, Dec. 29, 2020 2019 2020 2019 ----------- ----------- ------------ -------------- (unaudited) (unaudited) EBITDA Net Income $ 1,359,000 $ 1,213,000 $ 9,014,000 $ 10,240,000 Interest Expense 2,650,000 2,650,000 7,951,000 7,951,000 Provision for income taxes 492,000 360,000 3,456,000 3,621,000 Depreciation and amortization 288,000 294,000 900,000 941,000 ----------- ----------- ------------ -------------- EBITDA $ 4,789,000 $ 4,517,000 $ 21,321,000 $ 22,753,000 =========== =========== ============ ============== Adjusted EBITDA ------------- EBITDA $ 4,789,000 $ 4,517,000 $ 21,321,000 $ 22,753,000 Share-based compensation 29,000 29,000 87,000 87,000 ----------- ----------- ------------ -------------- Adjusted EBITDA $ 4,818,000 $ 4,546,000 $ 21,408,000 $ 22,840,000 =========== =========== ============ ==============Thirteen weeks ended Thirty-nine weeks ended -------------------------- ----------------------------- Dec. 27, Dec. 29, Dec. 27, Dec. 29, 2020 2019 2020 2019 Financial Highlights ----------------- Total revenues $ 18,030,000 $ 21,376,000 $ 57,555,000 $ 81,620,000 =========== =========== =========== ============= Income from operations (a) $ 4,403,000 $ 3,863,000 $ 20,081,000 $ 20,677,000 =========== =========== =========== ============= Net income $ 1,359,000 $ 1,213,000 $ 9,014,000 $ 10,240,000 ----------- ----------- ----------- ------------- Income per share: Basic $ 0.33 $ 0.29 $ 2.19 $ 2.43 =========== =========== =========== ============= Diluted $ 0.33 $ 0.29 $ 2.19 $ 2.43 =========== =========== =========== ============= Weighted-average shares used in computing income per share: Basic 4,115,000 4,225,000 4,117,000 4,219,000 ============ ============ ============ ============== Diluted 4,115,000 4,225,000 4,117,000 4,219,000 ============ ============ ============ ============== Select Segment Information Revenues ----------------- Branded product program $ 10,003,000 $ 13,694,000 $ 24,450,000 $ 45,989,000 Product licensing 5,898,000 4,412,000 24,689,000 18,559,000 Restaurant operations 1,739,000 2,697,000 7,334,000 15,320,000 Corporate (b) 390,000 573,000 1,082,000 1,752,000 ------------ ------------ ------------ -------------- Total Revenues $ 18,030,000 $ 21,376,000 $ 57,555,000 $ 81,620,000 =========== =========== =========== ============= Income from operations (c) ----------------- Branded product program $ 1,550,000 $ 1,917,000 $ 3,074,000 $ 6,244,000 Product licensing 5,852,000 4,367,000 24,552,000 18,423,000 Restaurant operations (1,162,000) (599,000) (2,193,000) 2,254,000 Corporate (d) (1,837,000) (1,822,000) (5,352,000) (6,244,000) ----------- ----------- ----------- ------------- Income from operations (c) $ 4,403,000 $ 3,863,000 $ 20,081,000 $ 20,677,000 =========== =========== =========== ============= 1. Excludes interest expense, interest income, and other income, net. 2. Represents Advertising Fund revenue. 3. Excludes interest expense, interest income, and other income, net which are managed centrally at the corporate level, and, accordingly, such items are not presented by segment since they are excluded from the measure of profitability reviewed by the Chief Operating Decision Maker. 4. Consists principally of administrative expenses not allocated to the operating segments such as executive management, finance, information technology, legal, insurance, corporate office costs, incentive compensation, compliance costs, and the operating results of the advertising fund.

(unaudited)

Nathan's Famous, Inc. and Subsidiaries

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

COMPANY Robert Steinberg, Vice President - Finance and CFO

CONTACT: (516) 338-8500 ext. 229

(END) Dow Jones Newswires

February 05, 2021 08:30 ET (13:30 GMT)