Benzinga | Jun 11, 2021 02:03PM EDT

Pandemic Hits Nathan's Q4 Earnings; Still Maintains Quarterly Dividend

* Nathan's Famous Inc (NASDAQ:NATH) reported fourth-quarter FY21 sales of $18.28 million, down 15.76% year-on-year. FY21 sales were $75.83 million, a 26% decrease Y/Y.

* Q4 Sales in Nathan's branded product program were $9.1 million, product licensing $6.6 million, and restaurant operations $1.9 million.

* The decrease in sales was mainly due to a decline in customer traffic, resulting from the COVID-19 pandemic impact.

* Nathan's dining rooms were operating at reduced capacity to comply with social distancing norms.

* Adjusted EBITDA of $5.8 million fell 18.3% Y/Y.

* Operating margin stood at 31.8%, with an operating income of $5.4 million.

* EPS decreased 34.2% Y/Y to $0.50.

* Cash and cash equivalent amounted to $81 million at the end of Q4.

* Nathan's declared a $0.35 per share quarterly cash dividend for the first-quarter FY22 payable on June 25, 2021, to stockholders of record as of the close of business on June 21, 2021.

* Price action: NATH shares traded lower by 3.19% at $70.70 on the last check Friday.