SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) (Mark One) X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the Fiscal Year Ended September 30, 1995 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from ___________ to ____________ Commission file number 0-14030 ARK RESTAURANTS CORP. ----------------------------------------------------------------- (Exact name of Registrant as specified in its charter) New York 13-3156768 - --------------------------------- -------------------------------------- (State or other jurisdiction of (IRS Employer Identification Number) incorporation or organization) 85 Fifth Avenue, New York, N.Y. 10003 ----------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (212) 206-8800 -------------- Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange Title of Each Class on Which Registered Common Stock, $.01 par value NASDAQ/NMS Securities registered pursuant to Section 12(g) of the Act: None 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 Exchange 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 ___ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K [X] The aggregate market value at December 18, 1995 of shares of the Registrant's Common Stock, $.01 par value (based upon the closing price per share of such stock on the NASDAQ/National Market) held by non-affiliates of the Registrant was approximately $14,455,586. Solely for the purposes of this calculation, shares held by directors and officers of the Registrant have been excluded. Such exclusion should not be deemed a determination or an admission by the Registrant that such individuals are, in fact, affiliates of the Registrant. Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: At December 18, 1995, there were outstanding 3,191,045 shares of the Registrant's Common Stock, $.01 par value. Document Incorporated by Reference: Certain portions of the Registrant's definitive proxy statement to be filed not later than January 29, 1996 pursuant to Regulation 14A are incorporated by reference in Items 10 through 13 of Part III of this Annual Report on Form 10-K. ARK RESTAURANTS CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS September 30, October 1, ASSETS 1995 1994 CURRENT ASSETS: Cash and cash equivalents $ 1,271,284 $ 2,912,913 Accounts receivable 1,273,827 1,085,176 Current portion of long-term receivables (Note 2) 163,436 139,340 Inventories (Note 3) 888,344 414,677 Deferred income taxes (Note 10) 395,539 93,000 Prepaid expenses 957,018 392,271 Other current assets 534,852 618,307 ----------- ----------- Total current assets 5,484,300 5,655,684 ----------- ----------- LONG-TERM RECEIVABLES (Note 2) 1,414,909 1,534,864 FIXED ASSETS - At cost (Notes 3 and 6): Leasehold improvements 14,421,187 9,632,792 Furniture, fixtures and equipment 12,369,017 9,086,903 Leasehold improvements in progress 133,789 801,032 ----------- ----------- 26,923,993 19,520,727 Less accumulated depreciation and amortization 10,548,687 9,025,243 ----------- ----------- 16,375,306 10,495,484 ----------- ----------- INTANGIBLE ASSETS (Note 3) 4,336,347 3,041,262 DEFERRED INCOME TAXES (Note 9) 476,543 476,982 OTHER ASSETS (Note 4) 454,515 564,471 ----------- ----------- $28,541,920 $21,768,747 =========== =========== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 2,035,769 $ 1,805,939 Accrued expenses and other current liabilities (Notes 3 and 5) 2,849,292 2,151,764 Current maturities of capital lease obligations (Note 7) 204,042 76,893 Current maturities of long-term debt (Notes 3 and 6) 88,832 76,329 Accrued income taxes (Note 10) 265,369 27,158 ----------- ----------- Total current liabilities 5,443,304 4,138,083 ----------- ----------- OBLIGATIONS UNDER CAPITAL LEASES (Note 7) 929,985 349,405 LONG-TERM DEBT - Net of current maturities (Notes 3 and 6) 3,925,330 685,057 OPERATING LEASE DEFERRED CREDIT (Note 7) 1,537,000 1,386,000 COMMITMENTS (Notes 6 and 7) SHAREHOLDERS' EQUITY (Notes 6 and 8): Common stock, par value $.01 per share - authorized, 10,000,000 shares; issued, 4,536,382 and 4,461,832 shares, respectively 45,364 44,618 Additional paid-in capital 7,481,636 7,107,409 Retained earnings 10,426,700 9,305,574 ----------- ----------- 17,953,700 16,457,601 Less treasury stock, 1,345,337 shares 1,247,399 1,247,399 ----------- ----------- 16,706,301 15,210,202 ----------- ----------- $28,541,920 $21,768,747 =========== =========== See notes to consolidated financial statements. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on the 6th day of February, 1996. ARK RESTAURANTS CORP. By: /s/ Michael Weinstein -------------------------------- MICHAEL WEINSTEIN, President