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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001157523-07-001445.txt : 20070213
<SEC-HEADER>0001157523-07-001445.hdr.sgml : 20070213
<ACCEPTANCE-DATETIME>20070212190406
ACCESSION NUMBER:		0001157523-07-001445
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070212
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20070213
DATE AS OF CHANGE:		20070212

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:		07605224

	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>a5332780.txt
<DESCRIPTION>ARK RESTAURANTS CORP. 8-K
<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 12, 2007

                              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 12, 2007, Ark Restaurants Corp. issued a press release
announcing its financial results for its fist quarter ended December 30, 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 12, 2007


<PAGE>

INDEX TO EXHIBITS

 Exhibit    Description
 -------    -----------
   99.1     Press Release dated February 12, 2007 entitled "Ark Restaurants
            Announces First Quarter Financial Results."
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5332780ex99-1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1


      Ark Restaurants Announces First Quarter Financial Results


    NEW YORK--(BUSINESS WIRE)--Feb. 12, 2007--Ark Restaurants Corp.
(NASDAQ:ARKR) today reported financial results for the first quarter
ended December 30, 2006.

    Total revenues from continuing operations for the three-month
period ended December 30, 2006 were $28,202,000 versus $25,963,000 in
the three months ended December 31, 2005.

    EBITDA from continuing operations for the three-month period ended
December 30, 2006 was $3,302,000 versus $2,522,000 during the same
three-month period last year. The Company's income from continuing
operations for the three-month period ended December 30, 2006 was
$1,822,000, or $0.51 per share ($0.51 per diluted share), as compared
to $1,307,000, or $0.37 per share ($0.37 per diluted share), for the
same three-month period last year.

    Compared to last year's first quarter, Company-wide same store
sales increased 7.0%. Compared to the same period last year, same
store sales in the Company's New York City operations increased by
17.2%, same store sales in the Company's Las Vegas operations
increased by 3.8% and same store sales in the Company's Washington
D.C. operations decreased by 1.0%. Sales from the Company's Las Vegas
operations represented 55.4% of the Company's total sales during the
three-month period ended December 30, 2006.

    Net income for the three-month period ended December 30, 2006 was
$6,590,000 versus $916,000 in the three months ended December 31,
2005. Net income for the three-month period ended December 30, 2006
includes a $5,196,000 net gain after taxes from the sale of the
Company's Lutece and Tsunami facilities at the Venetian Casino Resort.

    As of December 30, 2006, the Company had no debt and cash and
short term investments totaling $19,183,000. Subsequently, on February
1, 2007, the Company paid approximately $12 million in dividend
payments related to its special dividend of $3.00 per share and its
regular quarterly dividend of $0.35 per share which were declared on
December 20, 2006.

    Also, on January 8, 2007, the Company began operating the Durgin
Park Restaurant and the Black Horse Tavern in Boston, Massachusetts.

    Ark Restaurants owns and operates 24 restaurants and bars, 25 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., eight are located in Las Vegas, Nevada, two are
located in Atlantic City, New Jersey, three are located at the
Foxwoods Resort Casino in Ledyard, Connecticut and one is located in
Boston, Massachusetts. 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; two bars within the Venetian
Casino Resort as well as three food court concepts. In Las Vegas, the
Company also owns and operates one restaurant within the Forum Shops
at Caesar's Shopping Center. 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. In Boston,
Massachusetts, the Company operates a restaurant in the Faneuil Hall
Marketplace.

    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. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.



ARK RESTAURANTS CORP.
Condensed Consolidated Income Statement
For the 13 week periods ended December 30, 2006 and December 31, 2005
(In Thousands, Except per share amounts)
- ----------------------------------------------------------------------


                                         13 weeks ended 13 weeks ended
                                          December 30,   December 31,
                                             2006           2005
                                         -------------- --------------

TOTAL REVENUES                            $     28,202   $     25,963

COST AND EXPENSES:

Food and beverage cost of sales                  7,032          6,349
Payroll expenses                                 8,898          8,338
Occupancy expenses                               3,992          4,081
Other operating costs and expenses               3,238          3,161
General and administrative expenses              1,983          1,722
Depreciation and amortization expenses             638            566
                                         -------------- --------------

  Total costs and expenses                      25,781         24,217
                                         -------------- --------------

OPERATING INCOME                                 2,421          1,746
                                         -------------- --------------

OTHER INCOME:

Interest income                                    110             25
Other income                                       243            210
                                         -------------- --------------
  Total other income                               353            235
                                         -------------- --------------

Income from continuing operations before
 income taxes                                    2,774          1,981

Provision for income taxes                         929            674

Limited partner interest in income of
 variable interest entity                          (23)             -
                                         -------------- --------------

Income from continuing operations                1,822          1,307
                                         -------------- --------------

DISCONTINUED OPERATIONS:
Income (loss) from operations of
 discontinued restaurants                        7,156           (593)

Provision (benefit) for income taxes             2,398           (202)
                                         -------------- --------------

Income (loss) from discontinued
 operations                                      4,758           (391)
                                         -------------- --------------

Income before cumulative effect of change
 in accounting principle                         6,580            916

Cumulative effect of change in accounting
 principle                                          10              -
                                         -------------- --------------

NET INCOME                                $      6,590   $        916
                                         ============== ==============


PER SHARE INFORMATION - BASIC AND
 DILUTED:

Continuing operations basic               $        .51   $        .37
Discontinued operations basic             $       1.33   $       (.11)
Cumulative effect of change in accounting
 principle                                $        .00   $        .00
                                         -------------- --------------
Net basic                                 $       1.84   $        .26
                                         ============== ==============

Continuing operations diluted             $        .51   $        .37
Discontinued operations diluted           $       1.33   $       (.11)
Cumulative effect of change in accounting
 principle                                $        .00   $        .00
                                         -------------- --------------
Net diluted                               $       1.84   $        .26
                                         ============== ==============


WEIGHTED AVERAGE NUMBER OF SHARES-BASIC          3,571          3,462
                                         ============== ==============

WEIGHTED AVERAGE NUMBER OF SHARES-DILUTED        3,576          3,546
                                         ============== ==============

Continuing Operations EBITDA
 Reconciliation
Pre tax earnings                          $      2,774   $      1,981
Depreciation and amortization                      638            566
Interest                                          (110)           (25)
                                         -------------- --------------
EBITDA (a)                                $      3,302   $      2,522
                                         ============== ==============

Continuing Operations EBITDA adjusted for
non-cash stock option expense
EBITDA (as defined) (a)                   $      3,302   $      2,522
Non-cash stock option expense                      174            187
                                         -------------- --------------
EBITDA adjusted for non-cash stock option
 expense                                  $      3,476   $      2,709
                                         ============== ==============



    (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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