Ark Restaurants Corp. (ARKR) saw its loss narrow to $0.39 million, or $0.11 a share for the quarter ended Apr. 01, 2017. In the previous year period, the company reported a loss of $0.65 million, or $0.19 a share. Revenue during the quarter went up marginally by 0.60 percent to $34.48 million from $34.27 million in the previous year period. Gross margin for the quarter contracted 85 basis points over the previous year period to 60.55 percent. Operating margin for the quarter stood at negative 1.20 percent as compared to a negative 1.82 percent for the previous year period.
Operating loss for the quarter was $0.42 million, compared with an operating loss of $0.62 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.69 million compared with $0.59 million in the prior year period. At the same time, adjusted EBITDA margin improved 29 basis points in the quarter to 2.01 percent from 1.72 percent in the last year period.
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