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Ark Restaurants fiscal Q2 loss widens YOY

Ark Restaurants Corp. said its normalized net income for the fiscal second quarter ended March 28 amounted to a loss of 16 cents per share, compared with a loss of 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $525,380, compared with a loss of $179,630 in the year-earlier period.

The normalized profit margin dropped to negative 1.7% from negative 0.6% in the year-earlier period.

Total revenue grew on an annual basis to $31.5 million from $31.0 million, and total operating expenses grew from the prior-year period to $32.2 million from $30.9 million.

Reported net income totaled a loss of $574,940, or a loss of 17 cents per share, compared to a loss of $163,100, or a loss of 5 cents per share, in the prior-year period.