Nathan’s Famous, Inc. (NASDAQ:NATH) reported its latest quarterly earnings results early Friday, posting revenue increases but an earnings decline.
For its fourth quarter of fiscal 2018, the company posted net income of $367,000, which is a slide of nearly 50% compared to its year-ago net income of $729,000. On an adjusted basis, earnings came in at 9 cents per share, below the 17 cents per share it brought in during the year-ago period.
On the revenue front, the Nathan’s Famous impressed as it brought in $19.9 million in sales, a 3.5% improvement compared to the year-ago quarter. For the fiscal year, the company’s revenue tallied up to $104.2 million, an 8.3% gain compared to the year-ago quarter.
For the fiscal year, net income amounted to $2.63 million, marking a drop of nearly 65% from the $7.49 million from the year-ago period. Nathan’s Famous also said Friday that it will pay a regular quarterly cash dividend of 25 cents per share to shareholders of record on June 18.
The dividend became a reality thanks to the company’s strong operating performance and cash flow, as well as anticipated savings from the federal tax overhaul. On Nov. 1, Nathan’s Famous issued $150 million in senior secured notes to fund paying down debt and to pay part of a $5 special cash dividend to shareholders.
The notes have a 6.625% interest rate and they are due in 2025.
NATH stock gained 1.4% on Friday.
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