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Ark Restaurants fiscal Q3 profit climbs 6.2% YOY

Ark Restaurants Corp. said its normalized net income for the fiscal third quarter ended July 2 amounted to 77 cents per share, an increase of 6.9% from 72 cents per share in the third quarter ended June 27, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.7 million, an increase of 6.2% from $2.5 million in the third quarter ended June 27, 2015.

The normalized profit margin increased to 6.5% from 6.3% in the year-earlier period.

Total revenue rose on an annual basis to $41.2 million from $40.4 million, and total operating expenses came to $35.9 million, compared with $35.7 million in the year-earlier period.

Reported net income grew on an annual basis to $3.4 million, or 96 cents per share, from $3.2 million, or 92 cents per share.