JERICHO, N.Y. – Nathan’s Famous Inc. reported mixed results for the second quarter of 2018.

For the most recent quarter ended Sept. 23, 2018, the company reported revenues of $29,330,000, as compared to $31,471,000 reported in the second quarter of 2017.

Net income for the period was $4,484,000, as compared to $3,120,000 in the year-ago quarter. Earnings per diluted share was $1.06 per share, as compared to $0.74 per share.

Adjusted EBITDA for the second quarter was $9,476,000, as compared to $9,257,000 reported in 2017.

On a segment basis, sales in the Branded Products Program were $31,855,000 in the second quarter of 2018 compared to sales of $36,067,000 during the prior-year period. The Branded Products Program includes the sale of Nathan’s hot dogs to foodservice outlets. The company said the volume of hot dogs sold by the company decreased 6.3 percent.

Nathan’s attributed the sales and volume declines mostly to “…the use of a new re-distributor to temporarily service certain of our regular distributor customers. Excluding the effects of the re-distributors' purchases in both years, we estimate that customer shipments, increased by approximately 2.8 percent during the fiscal 2019 period. Our average selling price, which is partially correlated to the beef markets, decreased by approximately 7.2 percent compared to the year-earlier period.”

For the 26 weeks ended Sept. 23, 2018, Nathan’s Famous reported revenues of $59,498,000, as compared to $62,274,000 in the year-ago period.

Net income was $9,279,000 as compared to $6,042,000 reported in 2017. Earnings per diluted share during the 26 weeks ended Sept. 23 was $2.19 per share, as compared to $1.43 per share a year ago.

Sales from company owned restaurants during the 26 weeks were $10,189,000 as compared to $10,555,000 reported during the 26 weeks ended Sept. 24, 2017. “Sales were negatively affected, especially at our two Coney Island locations, by exceptionally unfavorable weather conditions in the Northeastern United States, during April and August 2018.”

Revenues for the 26 weeks ended Sept. 23 from franchise operations were $2,343,000 as compared to $2,487,000 reported in 2017.

Total franchise fee income was $242,000 during the 26 weeks as compared to $157,000 during the year-ago period. The company reported nine new franchised restaurants opened during the 26 weeks ended Sept. 23, including two international locations and four Branded Menu Program outlets.