Nathan’s Famous reported that its net income rose by nearly 54 percent in the quarter that ended June 26, as its expenses declined, the company said Friday.
The frankfurter maker reported quarterly profits of nearly $3.6 million, up from $2.3 million a year earlier. The company had earnings per diluted share of 85 cents in the most recent quarter, up from 50 cents during the same period in 2015.
The company reported a nearly 11 percent annual decline in its expenses, to $20.6 million, largely due to the falling cost of sales. Those expenses do not include quarterly interest expenses of nearly $3.7 million, which fell almost 1 percent from a year earlier. The interest expenses stem from the company’s March 2015 issuance of $135 million in bonds to fund a $25-per-share special dividend.
Nathan’s Famous reported Friday that its total revenues dipped by 4 percent annually, to $29.4 million in the most recent quarter.
The company’s stock rose 6 percent in morning trading to $49.63.