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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950117-03-005355.txt : 20031219
<SEC-HEADER>0000950117-03-005355.hdr.sgml : 20031219
<ACCEPTANCE-DATETIME>20031219104859
ACCESSION NUMBER:		0000950117-03-005355
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031218
ITEM INFORMATION:		
FILED AS OF DATE:		20031219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARK RESTAURANTS CORP
		CENTRAL INDEX KEY:			0000779544
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				133156768
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09453
		FILM NUMBER:		031063939

	BUSINESS ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
		BUSINESS PHONE:		2122068800

	MAIL ADDRESS:	
		STREET 1:		85 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003-3019
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a36721.txt
<DESCRIPTION>ARK RESTAURANTS CORP.
<TEXT>
<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    Form 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): December 18, 2003

                              Ark Restaurants Corp.
             (Exact name of registrant as specified in its charter)

                                     0-14030
                            (Commission File Number)

           New York                                         13-3156768
 ---------------------------                    --------------------------------
(State or other jurisdiction                    (I.R.S. Employer Identification)
     of incorporation)

                                 85 Fifth Avenue
                               New York, NY 10003
             (Address of principal executive offices, with zip code)

                                 (212) 206-8800
              (Registrant's telephone number, including area code)

                                       N/A
          (Former name or former address, if changed since last report)

Item 12. Results of Operations and Financial Condition

     The information in this Current Report is being furnished and shall not be
deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934
(the "Exchange Act"), or otherwise subject to the liabilities of that Section.
The information in this Current Report shall not be incorporated by reference in
any filing under the Securities Act of 1933 or the Exchange Act, except as shall
be expressly set forth by specific reference in such a filing.



<PAGE>


     On December 18, 2003, Ark Restaurants Corp. issued a press release
announcing its fourth quarter and full year financial results for 2003, the text
of which is furnished herewith as Exhibit 99.1.

                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                    ARK RESTAURANT CORP.


                                                    By: /s/ Michael Weinstein
                                                        ------------------------
                                                        Chief Executive Officer

Date:  December 18, 2003

INDEX TO EXHIBITS

Exhibit   Description
- -------   -----------

  99.1    Press Release dated December 18, 2003 entitled "Ark Restaurants
          Announces Fourth Quarter and Full Year Results for 2003."

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<PAGE>

     Ark Restaurants Announces Fourth Quarter and Full Year Results for 2003

CONTACT:
Robert Towers
(212) 206-8800
bob@arkrestaurants.com

NEW YORK, New York - December 18, 2003 - Ark Restaurants Corp. (NASDAQ:ARKR)
today reported financial results for the fourth quarter and full year ended
September 27, 2003.

For the fourth quarter ended September 27, 2003, total revenues were $31.9
million versus $30.0 million in the fourth quarter of fiscal 2002. Pre-tax
income was $2.3 million for the quarter ended September 27, 2003 versus pre-tax
income of $1.3 million for last year's fourth quarter. Net income for the fourth
quarter ended September 27, 2003 was $1.8 million, or $0.55 per fully diluted
earnings per share, while net income for the fourth quarter of 2002 was $1.6
million, or $0.50 per fully diluted earning per share. Fourth quarter 2003 net
income includes a tax provision of $515,000, or ($0.16) per fully diluted
earnings per share, versus 2002 fourth quarter net income which included a tax
benefit of $336,000, or $0.10 per fully diluted earnings per share. EBITDA for
the fourth quarter ended September 27, 2003 was $3.3 million versus $2.7 million
last year.

For the full fiscal year ended September 27, 2003, total revenues were $116.6
million versus $115.7 million for the year ended September 28, 2002. Net income
for the year ended September 27, 2003 was $3.3 million compared to $4.2 million
for the year ended September 28, 2002. Fully diluted earnings per share were
$1.03 for fiscal 2003 compared with $1.32 in fiscal 2002. Finally, EBITDA for
fiscal 2003 was $9.2 million versus $11.9 million in fiscal 2002.

As of September 27, 2003 borrowings on the Company's credit facility had been
reduced to $6,975,000 versus $14,908,000 as of September 28, 2002.

On a Company wide basis same store sales increased 6.6% during the fourth
quarter of 2003 compared with last year's fourth quarter. Las Vegas continued to
perform strongly during the fourth quarter of 2003 where same store sales
increased 14.5% over the comparable fourth quarter of 2002. Washington D.C. same
store sales increased 0.2% while New York same store sales decreased 0.5% during
the fourth quarter of 2003 compared to the fourth quarter of 2002.

Ark Restaurants owns and operates 24 restaurants, 12 fast food concepts,
catering operations and wholesale and retail bakeries. Twelve restaurants are
located in New York City; 8 in Las Vegas, Nevada; and four in Washington, DC.
The Las Vegas operations include three restaurants within the New York-New York
Hotel & Casino Resort and operation of the Resort's room service, banquet
facilities, employee dining



<PAGE>


room and eight food court concepts; four restaurants and bars within the
Venetian Casino Resort as well as four food court concepts. The Company also
owns and operates one restaurant within the Forum Shops at Caesar's Shopping
Center and one restaurant at the Neonopolis Center at Fremont Street.



<PAGE>


Ark Restaurants Corp
Consolidated Income Statement
For the 13 weeks ended September 27, 2003 and September 28, 2002
and the 52 weeks ended September 27, 2003 and September 28, 2002
(in thousands except for per share amounts)

<TABLE>
<CAPTION>
                                         52 weeks to   52 weeks to   13 weeks to   13 weeks to
                                          9/27/2003     9/28/2002     9/27/2003     9/28/2002
                                         -----------   -----------   -----------   -----------
<S>                                       <C>           <C>           <C>           <C>
REVENUES:
Food & beverage sales                     $  115,256    $  115,107    $   31,667    $   29,917
Other income                                   1,337           550           234            68
                                          ----------    ----------    ----------    ----------
   Total Revenues                            116,593       115,657        31,901        29,985

COSTS & EXPENSES:
Food & beverage cost of sales                 29,267        28,794         8,156         7,331
Payroll expenses                              38,583        37,412        10,175         9,551
Occupancy expenses                            18,200        17,306         4,757         4,454
Other operating costs and expenses            14,964        13,951         3,842         4,071
General & Administrative expenses              6,665         6,548         2,137         2,031
Depreciation and amortization expenses         4,286         5,172           992         1,261
Asset Impairment                                 667            --            --            --
                                          ----------    ----------    ----------    ----------
   Total costs and expenses                  112,632       109,183        30,059        28,699

Operating Income                               3,961         6,474         1,842         1,236

OTHER (INCOME) EXPENSE:
Interest expense                                 732         1,212            87           231
Interest income                                 (163)         (133)          (38)          (31)
Other income                                    (983)         (253)         (508)         (177)
                                          ----------    ----------    ----------    ----------
Total other (income) expense                    (414)          826          (459)          (37)
                                          ----------    ----------    ----------    ----------
Income before income taxes                     4,375         5,648         2,301         1,273
Provision (benefit) for income taxes           1,056         1,419           515          (336)
                                          ----------    ----------    ----------    ----------
NET INCOME                                $    3,319    $    4,229    $    1,786    $    1,609
                                          ==========    ==========    ==========    ==========

EBITDA Reconciliation
Pre Tax Earnings                          $    4,375    $    5,648    $    2,301    $    1,273
Depreciation                                   4,286         5,172           992         1,261
Interest                                         569         1,079            49           201
                                          ----------    ----------    ----------    ----------
EBITDA (a)                                $    9,230    $   11,899    $    3,342    $    2,735
                                          ==========    ==========    ==========    ==========

INCOME per share:
Income basic                              $     1.04    $     1.33    $     0.56    $     0.51
Income diluted                            $     1.03    $     1.32    $     0.55    $     0.50
Basic Shares                               3,181,299     3,181,299     3,181,299     3,181,299
Diluted Shares                             3,212,885     3,205,792     3,259,892     3,208,981
</TABLE>

     (a)  EBITDA is defined as earnings before interest, taxes, depreciation and
          amortization and cumulative effect of changes in accounting principle.
          Although EBITDA is not a measure of performance or liquidity
          calculated in accordance with generally accepted accounting principles
          (GAAP), the Company believes the use of the non-GAAP financial measure
          EBITDA enhances an overall understanding of the Company's past
          financial performance as well as providing useful information to the
          investor because of its historical use by the Company as both a
          performance measure and measure of liquidity, and the use of EBITDA by
          virtually all companies in the restaurant sector as a measure of both
          performance and liquidity. However, investors should not consider this
          measure in isolation or as a substitute for net income, operating
          income, cash flows from operating activities or any other measure for
          determining the Company's operating performance or liquidity that is
          calculated in accordance with GAAP, it may not necessarily be
          comparable to similarly titled Measures employed by other companies. A
          reconciliation of EBITDA to the most comparable GAAP financial
          measure, net income, is included above.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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