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<SEC-DOCUMENT>0001157523-07-012274.txt : 20071219
<SEC-HEADER>0001157523-07-012274.hdr.sgml : 20071219
<ACCEPTANCE-DATETIME>20071218174115
ACCESSION NUMBER:		0001157523-07-012274
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071218
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20071219
DATE AS OF CHANGE:		20071218

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:		071314319

	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>a5570870.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): December 18, 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  December  18,  2007,  Ark  Restaurants  Corp.  issued  a press  release
announcing its financial results for its fourth quarter and year ended September
29, 2007, 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: December 18, 2007

<PAGE>


INDEX TO EXHIBITS

Exhibit   Description
- -------   -----------
  99.1    Press Release dated December 18, 2007 entitled "Ark Restaurants
          Announces Financial Results for the Fourth Quarter and Full Year
          2007."
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5570870ex991.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                    Exhibit 99.1

                  Ark Restaurants Announces Financial
          Results for the Fourth Quarter and Full Year 2007


    NEW YORK--(BUSINESS WIRE)--December 18, 2007--Ark Restaurants
Corp. (NASDAQ:ARKR) today reported financial results for the fourth
quarter and full year ended September 29, 2007.

    As of December 14, 2007, the Company had cash, cash equivalents
and short term investments totaling $14,245,000. As of the same date,
the Company had no long-term debt other than $842,000 remaining due on
a five year purchase money obligation undertaken in connection with
the Company's January 8, 2007 acquisition of the Durgin Park
Restaurant and the Black Horse Tavern in Boston, Massachusetts.

    EBITDA from continuing operations before stock option expense for
the three-month period ended September 29, 2007 was $4,490,000 versus
$3,668,000 during the same three-month period last year. The Company's
income from continuing operations for the three-month period ended
September 29, 2007 was $2,606,000, or $0.73 per share ($0.72 per
diluted share), as compared to $1,914,000, or $0.55 per share ($0.54
per diluted share), for the same three-month period last year.

    Total revenues from continuing operations for the three-month
period ended September 29, 2007 were $34,074,000 versus $29,351,000 in
the three months ended September 30, 2006. Compared to the same three
month period last year, same store sales in the Company's New York
City operations increased by 12.7%, same store sales in the Company's
Las Vegas operations increased by 5.5%, same store sales in the
Company's Washington D.C. operations increased by 18.0% and same store
sales in Atlantic City increased 25.3%. The increase in Atlantic City
this year was primarily due to last year's low level of sales
following the start-up of those operations. The Company does not
anticipate similar same store percentage increases in Atlantic City
after this fiscal year. Compared to the same three month period last
year, Company-wide same store sales increased by 10.4%. Although the
Company does not consolidate the sales or the financial results of the
Company's managed Florida casino operations (the Company derives
income from a management fee arrangement in part based on sales), same
store sales at the Company's Florida operations increased by 19.9%
compared to the same three month period last year. Sales at the
Company's Florida operations totaled $3,170,000 during the three month
period ended September 29, 2007. Sales from the Company's Las Vegas
operations represented 46.3% of the Company's total sales during the
three-month period ended September 29, 2007.

    For the year ended September 29, 2007, EBITDA from continuing
operations before stock option expense was $15,270,000 versus
$12,136,000 in fiscal 2006. The Company's income from continuing
operations for the year ended September 29, 2007 was $8,404,000, or
$2.34 per share ($2.33 per diluted share), as compared to $5,971,000,
or $1.72 per share ($1.68 per diluted share), last year.

    Total revenues from continuing operations for fiscal 2007 were
$124,207,000 versus $110,519,000 in fiscal 2006. Compared to last
year, same store sales in the Company's New York City operations
increased by 12.5%, same store sales in the Company's Las Vegas
operations increased by 5.0% and same store sales in the Company's
Washington D.C. operations increased by 9.3%. The Company's Atlantic
City facilities were not open during the first quarter of last year
and, as a result, the Company cannot make year to year comparisons.
Compared to last year, Company-wide same store sales increased by
9.3%. Same store sales at the Company's Florida operations increased
by 16.2% compared to last year. Sales at the Company's Florida
operations totaled $12,170,000 during the year ended September 29,
2007. Sales from the Company's Las Vegas operations represented 50.7%
of the Company's total sales during the year September 29, 2007.

    During fiscal 2007, the Company recognized a $7,814,000 pre-tax
gain as a result of the sale of the Company's Lutece and Tsunami
locations to Venetian Casino Resort, LLC.

    Ark Restaurants owns and operates 22 restaurants and bars, 24 fast
food concepts, catering operations and wholesale and retail bakeries.
Seven restaurants are located in New York City, four are located in
Washington, D.C., five 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; one bar 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 seven 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 and 52 week periods ended September 29, 2007 and September
 30, 2006
(In Thousands, Except per share amounts)
- ----------------------------------------------------------------------


                               13 weeks  13 weeks  52 weeks  52 weeks
                                 ended     ended     ended     ended

                               September September September September
                                  29,       30,       29,       30,
                                 2007      2006      2007      2006
                               --------- --------- --------- ---------

TOTAL REVENUES                  $34,074   $29,351  $124,207  $110,519
                               --------- --------- --------- ---------

COST AND EXPENSES:

Food and beverage cost of sales   9,119     7,547    32,058    27,942
Payroll expenses                  9,701     9,126    37,746    35,213
Occupancy expenses                4,312     3,920    16,288    16,129
Other operating costs and
 expenses                         3,949     3,626    15,012    13,330
General and administrative
 expenses                         2,722     1,796     9,046     7,231
Depreciation and amortization
 expenses                           705       703     2,721     2,534
                               --------- --------- --------- ---------

  Total costs and expenses       30,508    26,718   112,871   102,379
                               --------- --------- --------- ---------

OPERATING INCOME                  3,566     2,633    11,336     8,140
                               --------- --------- --------- ---------

OTHER INCOME:

Interest income - net               138        11       352        82
Other income                        141       145       805       714
                               --------- --------- --------- ---------
  Total other income                279       156     1,157       796
                               --------- --------- --------- ---------

Income from continuing
 operations
  before income taxes             3,845     2,789    12,493     8,936

Provision for income taxes        1,139       875     3,853     2,965

Limited partner interest in
 income of variable interest
 entity                            (100)        -      (236)        -
                               --------- --------- --------- ---------

Income from continuing
 operations                       2,606     1,914     8,404     5,971
                               --------- --------- --------- ---------

DISCONTINUED OPERATIONS:
Income (loss) from operations
 of discontinued restaurants         15        94     7,090    (1,124)

Provision (benefit) for income
 taxes                               47        41     2,481      (373)
                               --------- --------- --------- ---------

Income (loss) from discontinued
 operations                         (32)       53     4,609      (751)
                               --------- --------- --------- ---------

NET INCOME                      $ 2,574   $ 1,967  $ 13,013  $  5,220
                               ========= ========= ========= =========


PER SHARE INFORMATION - BASIC AND
 DILUTED:

Continuing operations basic     $   .73   $   .55  $   2.34  $   1.72
Discontinued operations basic   $  (.01)  $   .01  $   1.29  $   (.22)
                               --------- --------- --------- ---------
Net basic                       $   .72   $   .56  $   3.63  $   1.50
                               ========= ========= ========= =========

Continuing operations diluted   $   .72   $   .54  $   2.33  $   1.68
Discontinued operations diluted $  (.01)  $   .01  $   1.28  $   (.21)
                               --------- --------- --------- ---------
Net diluted                     $   .71   $   .55  $   3.61  $   1.47
                               ========= ========= ========= =========


WEIGHTED AVERAGE NUMBER OF
 SHARES-BASIC                     3,594     3,499     3,582     3,472
                               ========= ========= ========= =========

WEIGHTED AVERAGE NUMBER OF
 SHARES-DILUTED                   3,641     3,552     3,607     3,548
                               ========= ========= ========= =========

Continuing Operations EBITDA
 Reconciliation
Pre tax earnings                $ 3,845   $ 2,789  $ 12,493  $  8,936
Depreciation and amortization       705       703     2,721     2,534
Interest                           (138)      (11)     (352)      (82)
                               --------- --------- --------- ---------
EBITDA (a)                      $ 4,412   $ 3,481  $ 14,862  $ 11,388
                               ========= ========= ========= =========

Continuing Operations EBITDA
 adjusted for
non-cash stock option expense
EBITDA (as defined) (a)         $ 4,412   $ 3,481  $ 14,862  $ 11,388
Non-cash stock option expense        78       187       408       748
                               --------- --------- --------- ---------
EBITDA adjusted for non-cash
 stock option expense           $ 4,490   $ 3,668  $ 15,270  $ 12,136
                               ========= ========= ========= =========

(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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