Nathan's Famous sales, income soar
Nathan's Famous reported Nov. 5, 2014, sharply higher second quarter revenue and net income as a new licensee took over manufacturing and distribution to U.S. retail channels. This is the original Nathan's Famous restaurant on Coney Island July 4, 2007. Credit: Getty Images / Stan Honda
Hot dog maker Nathan's Famous, Inc. Wednesday reported sharply higher second quarter revenue and net income as a new licensee took over manufacturing and distribution to U.S. retail channels.
Net income of the Jericho company climbed 45.5 percent to $3.9 million, or 84 cents per diluted share. That compared to $2.6 million, or 57 cents per diluted share, in the 2013 period.
Revenue increased 22.4 percent to $29 million versus the year-ago quarter.
After the premarket release of the quarterly results, shares of Nathan's rose 3.4 percent to close at $70.24.
On March 1, John Morrell & Co. began manufacturing and distributing Nathan's Famous branded hot dogs through supermarkets, mass merchandisers and club stores in the United States.
Nathan's also sells products to the food service industry, collects revenue from franchisees and runs company-owned restaurants.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
Israel, Hamas ceasefire-hostage deal ... FDA bans red dye ... Officer gets service dog ... Increase in bird strikes
Israel, Hamas ceasefire-hostage deal ... FDA bans red dye ... Officer gets service dog ... Increase in bird strikes
