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Previous: MSB FUND INC, PRE 14A, 2000-02-18 |
Next: NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/, 424B3, 2000-02-18 |
<PAGE> 1
FORM 10-Q / A
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
[ x ] Quarterly report pursuant to Section 13 or 15(d) of the Securities Act
of 1934 for the quarterly period ended DECEMBER 26, 1999.
[ ] Transition report pursuant to Section 13 or 15(d) of the Securities Act
of 1934 for the transition period from __________________________ to
__________________________ .
Commission File Number 0-3189
NATHAN'S FAMOUS, INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
DELAWARE 11-3166443
(State or other jurisdiction of (IRS employer
incorporation or organization) identification number)
</TABLE>
1400 OLD COUNTRY ROAD, WESTBURY, NEW YORK 11590
(Address of principal executive offices including zip code)
(516) 338-8500
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes x No
At December 26, 1999, an aggregate of 7,040,509 shares of the registrant's
common stock, par value of $.01, were outstanding.
<PAGE> 2
PART I. FINANCIAL INFORMATION
Item 1. Consolidated Financial Statements
NATHAN'S FAMOUS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share amounts)
<TABLE>
<CAPTION>
December March
26, 1999 28, 1999
-------- --------
(Unaudited)
<S> <C> <C>
Current assets:
Cash and cash equivalents including unexpended
marketing fund contributions of $880 and $0 and
restricted cash of $83 and $83, respectively $ 2,650 $ 2,165
Marketable investment securities 2,911 3,267
Notes, franchise and other receivables, net 3,944 1,578
Inventory 663 374
Prepaid expenses and other current assets 482 411
Deferred income taxes 627 622
-------- --------
Total current assets 11,277 8,417
Notes receivable, net 3,938 --
Property and equipment, net 11,556 6,293
Assets held for sale 1,761 --
Intangible assets, net 19,664 10,882
Investment in unconsolidated affiliate -- 4,441
Deferred income taxes 892 892
Other assets, net 610 325
-------- --------
$ 49,698 $ 31,250
======== ========
Current liabilities:
Current maturities of long term debt $ 322 $ --
Accounts payable 1,713 1,053
Accrued expenses and other current liabilities 6,924 3,434
Deferred franchise fees 198 222
-------- --------
Total current liabilities 9,157 4,709
Long term debt, less current maturities 3,182 --
Deferred franchise fees and other deferred revenue 791 --
Accrued expenses and other liabilities 1,093 193
-------- --------
Total liabilities 14,223 4,902
-------- --------
Stockholders' equity:
Common stock, $.01 par value - 30,000,000 shares
authorized, 7,040,509 and 4,722,216 issued and
outstanding , respectively 70 47
Additional paid-in-capital 40,669 32,423
Accumulated deficit (5,264) (6,122)
-------- --------
Total stockholders' equity 35,475 26,348
-------- --------
$ 49,698 $ 31,250
======== ========
</TABLE>
See accompanying notes to consolidated financial statements.
-2-
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NATHAN'S FAMOUS, INC.
Date: February 17, 2000 By: /s/ Wayne Norbitz
-----------------------------------
Wayne Norbitz
President and Chief Operating
Officer
(Principal Executive Officer)
Date: February 17, 2000 By: /s/ Ronald G. DeVos
-------------------------------------
Ronald G. DeVos
Vice President - Finance
and Chief Financial Officer
(Principal Financial and
Accounting Officer)
-3-
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