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Ark Restaurants Corp. (Financial Briefs).(Brief Article)

Nation's Restaurant News Daily NewsFax

| December 28, 2001 | COPYRIGHT 2003 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission. (Hide copyright information)Copyright

NEW YORK--ARK RESTAURANTS CORP. reported a net loss of $6.8 million on net sales of $127.0 million for the fiscal year ended Sept 29, vs. a loss of $3.7 million on sales of $l192 million in the prior year. Income from restaurant operations before special items and charges was $9.7 million, compared with $12.8 million last year. Ark president MICHAEL WEINSTEIN said results were affected by a one-time pretax charge of $10.0 million for the company's write-down of a restaurant and six food court operations at DESERT PASSAGE, the Las Vegas retail complex at the ALADDIN RESORT & CASINO, which filed for bankruptcy reorganization in September. Ark posted a fourth-quarter net loss of …

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