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<SEC-DOCUMENT>0001157523-06-001545.txt : 20060214
<SEC-HEADER>0001157523-06-001545.hdr.sgml : 20060214
<ACCEPTANCE-DATETIME>20060214141743
ACCESSION NUMBER:		0001157523-06-001545
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060213
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20060214
DATE AS OF CHANGE:		20060214

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:		06612633

	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>a5079689.txt
<DESCRIPTION>ARK RESTAURANTS CORP.
<TEXT>


                                  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): February 13, 2006

                              ARK RESTAURANTS CORP.
                              ---------------------
             (Exact name of registrant as specified in its charter)

                         Commission file number 0-14030



            New York                                          13-3156768
- ----------------------------------                    --------------------------
 (State or other jurisdiction of                           (I.R.S. Employer
  incorporation or organization)                          Identification No.)


                                 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)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))



<PAGE>


Item 2.02. 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.

     On February 13, 2006, Ark Restaurants Corp. issued a press release
announcing its first quarter financial results for 2006, the text of which is
furnished herewith as Exhibit 99.1.




<PAGE>


                                   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: February 13, 2006



<PAGE>


INDEX TO EXHIBITS

Exhibit    Description
- -------    -----------
  99.1     Press Release dated February 13, 2006 titled "Ark Restaurants
           Announces First Quarter Financial Results"

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5079689ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

      Ark Restaurants Announces First Quarter Financial Results

    NEW YORK--(BUSINESS WIRE)--Feb. 13, 2006--Ark Restaurants Corp.
(NASDAQ:ARKR) today reported financial results for the first quarter
ended December 31, 2005.
    Total revenues from continuing operations for the three-month
period ended December 31, 2005 were $27,362,000 versus $26,683,000 in
the three months ended January 1, 2005.
    Beginning with this quarter, the Company became subject to SFAS
No. 123(R), "Share-Based Payment", issued by the Financial Accounting
Standards Board. SFAS No. 123(R) requires that the Company expense
costs related to share-based payment transactions with employees. With
limited exceptions, SFAS No. 123(R) requires that the fair value of
share-based payments to employees be expensed over their vesting
period. By becoming subject to SFAS No. 123(R), the Company was
required to recognize $187,000 of additional compensation expense
during the quarter which resulted in a non-cash reduction in EBITDA of
$187,000 and a non-cash reduction in earnings per share of 3 1/2 cents
during the three-month period ended December 31, 2005 as compared to
the same three-month period last year.
    EBITDA from continuing operations for the three-month period ended
December 31, 2005 was $2,561,000 versus $2,662,000 during the same
three-month period last year. The Company's income from continuing
operations for the three-month period ended December 31, 2005 was
$1,192,000, or $0.34 per share ($0.34 per diluted share), as compared
to $1,325,000, or $0.39 per share ($0.38 per diluted share), for the
same three-month period last year. The tax rate for this quarter was
34% compared to 29% in last year's comparable period.
    Compared to last year's first quarter, Company-wide same store
sales increased 2.3%. Compared to the same period last year, same
store sales in the Company's Washington D.C. operations increased by
3.3%, same store sales in the Company's New York City operations
increased by 13.3% and same store sales in the Company's Las Vegas
operations decreased by 3.0%. Sales from the Company's Las Vegas
operations represented 56% of the Company's total sales during the
three-month period ended December 31, 2005.
    As of December 31, 2005, the Company had no debt and a cash
balance of $3,381,000.
    Michael Weinstein, Chairman, President and CEO of Ark Restaurants
Corp., stated "The performance of our operations in New York City and
Washington, D.C., as well as Florida, remained strong. In Las Vegas,
the results of our operations at the New York-New York Hotel & Casino
were basically flat while the results of our operations at the
Venetian Casino Resort during the quarter were quite disappointing."
    The Company will broadcast its conference call to discuss first
quarter results over the Internet. The broadcast will be held on
Tuesday, February 14, 2006 at 10:00 a.m. Eastern Time. To access the
broadcast, please visit http://www.viavid.net. A replay of the
broadcast will be available within one hour of the call.

    The dial-in numbers to participate in the conference call are:

                      Toll-Free - 1-866-425-6191

                  Toll/International - 1-973-935-2981

    Ark Restaurants owns and operates 23 restaurants and bars, 26 fast
food concepts, catering operations and wholesale and retail bakeries.
Eight restaurants are located in New York City, four are located in
Washington, D.C., nine are located in Las Vegas, Nevada, and two are
located in Atlantic City, New Jersey. The Las Vegas operations include
three restaurants within the New York-New York Hotel & Casino Resort
and operation of the hotel's room service, banquet facilities,
employee dining room and nine food court concepts; four restaurants
and bars within the Venetian Casino Resort as well as four food court
concepts. In Las Vegas, 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. The Florida
operations under management include five fast food facilities in
Tampa, Florida and eight fast food facilities in Hollywood, Florida,
each at a Hard Rock Hotel and Casino operated by the Seminole Indian
Tribe at these locations. In Atlantic City, New Jersey, the Company
operates a restaurant and a bar in the Resorts Atlantic City Hotel and
Casino.

    Except for historical information, this news release contains
forward-looking statements, which involve unknown risks, and
uncertainties that may cause the Company's actual results or outcomes
to be materially different from those anticipated and discussed
herein. Important factors that might cause such differences are
discussed in the Company's fillings with the Securities and Exchange
Commission.

<PAGE>

                        ARK RESTAURANTS CORP.
                    Consolidated Income Statement
 For the 13 week periods ended December 31, 2005 and January 1, 2005
               (In Thousands, Except per share amounts)
- ----------------------------------------------------------------------


                                         13 weeks ended 13 weeks ended
                                           December 31,    January 1,
                                               2005           2005
                                          -------------  -------------

TOTAL REVENUES                           $      27,362  $      26,683

COST AND EXPENSES:

Food and beverage cost of sales                  6,697          6,662
Payroll expenses                                 8,940          8,581
Occupancy expenses                               4,232          4,041
Other operating costs and expenses               3,420          2,986
General and administrative expenses              1,722          1,820
Depreciation and amortization expenses             780            821
                                          -------------  -------------

  Total costs and expenses                      25,791         24,911
                                          -------------  -------------

OPERATING INCOME                                 1,571          1,772
                                          -------------  -------------

OTHER INCOME:

Interest income                                    (25)           (25)
Other income                                      (210)           (69)
                                          -------------  -------------
  Total other income                              (235)           (94)
                                          -------------  -------------

Income from continuing operations
  before income taxes                            1,806          1,866

Provision for income taxes                         614            541
                                          -------------  -------------

Income from continuing operations                1,192          1,325
                                          -------------  -------------

DISCONTINUED OPERATIONS:
Loss from operations of discontinued
 restaurants                                      (418)          (199)

Benefit for income taxes                          (142)           (58)
                                          -------------  -------------

Loss from discontinued operations                 (276)          (141)
                                          -------------  -------------

NET INCOME                               $         916  $       1,184
                                          =============  =============


PER SHARE INFORMATION - BASIC AND DILUTED:

Continuing operations basic              $         .34  $         .39
Discontinued operations basic            $        (.08) $        (.04)
                                          -------------  -------------
Net basic                                $         .26  $         .35
                                          =============  =============

Continuing operations diluted            $         .34  $         .38
Discontinued operations diluted          $        (.08) $        (.04)
                                          -------------  -------------
Net diluted                              $         .26  $         .34
                                          =============  =============


WEIGHTED AVERAGE NUMBER OF SHARES-BASIC          3,462          3,395
                                          =============  =============

WEIGHTED AVERAGE NUMBER OF SHARES-
 DILUTED                                         3,546          3,533
                                          =============  =============

Continuing Operations EBITDA
 Reconciliation
Pre tax earnings                         $       1,806  $       1,866
Depreciation and amortization                      780            821
Interest                                           (25)           (25)
                                          -------------  -------------

EBITDA (a)                               $       2,561  $       2,662
                                          =============  =============

 (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.

    CONTACT: Ark Restaurants Corp.
             Robert Towers, 212-206-8800
             bob@arkrestaurants.com
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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