EX-99.1
4
v078128_ex99-1.htm
FOR:
NATHAN'S
FAMOUS, INC.
COMPANY
Ronald
G. DeVos, Vice President - Finance and
CFO
CONTACT:
(516)
338-8500 ext. 229
FOR
IMMEDATE RELEASE
NATHAN'S
FAMOUS, INC.
REPORTS
SALE OF MIAMI SUBS CORPORATION
WESTBURY,
N.Y., June 8, 2007 - Nathan's Famous, Inc. (Nasdaq Symbol: NATH), announced
today the sale of its subsidiary, Miami Subs Corporation to Miami Subs Capital
Partners I, Inc., an investment entity led by Bruce Galloway and Gary Herman.
The purchase price was $3,250,000, consisting of $850,000 in cash and the
buyer's secured promissory note in the amount of $2,400,000 payable over a
four-year term.
About
Nathan's Famous
Nathan's
products are distributed in 49 states, the District of Columbia and 14 foreign
countries through its restaurant system, Branded Product Program and retail
licensing activities. Following the sale of Miami Subs, Nathan's restaurant
system consisted of 291 franchised or licensed units and six company-owned
units
(including one seasonal unit) featuring the Nathan's and Kenny Rogers Roasters
brands. For additional information about Nathan's or Kenny Rogers Roasters
please visit our website at www.nathansfamous.com
Except
for historical information contained in this news release, the matters discussed
are forward looking statements that involve risks and uncertainties. Words
such
as "anticipate", "believe", "estimate", "expect", "intend", and similar
expressions identify forward-looking statements, which are based on the current
belief of the Company's management, as well as assumptions made by and
information currently available to the Company's management. Among the factors
that could cause actual results to differ materially are the following: the
effect of business and economic conditions; the impact of competitive products
and pricing; capacity; the regulatory and trade environment; and the risk
factors reported from time to time in the Company's SEC reports. The Company
does not undertake any obligation to update such forward-looking
statements.

EX - 99 . 1 4 v078128 _ ex99 - 1 . htm FOR : NATHAN 'S FAMOUS , INC . COMPANY Ronald G . DeVos , Vice President - Finance and CFO CONTACT : ( 516 ) 338 - 8500 ext . 229 FOR IMMEDATE RELEASE NATHAN 'S FAMOUS , INC . REPORTS SALE OF MIAMI SUBS CORPORATION WESTBURY , N . Y . , June 8 , 2007 - Nathan ' s Famous , Inc . ( Nasdaq Symbol : NATH ) , announced today the sale of its subsidiary , Miami Subs Corporation to Miami Subs Capital Partners I , Inc . , an investment entity led by Bruce Galloway and Gary Herman . The purchase price was $ 3,250,000 , consisting of $ 850,000 in cash and the buyer ' s secured promissory note in the amount of $ 2,400,000 payable over a four - year term . About Nathan ' s Famous Nathan 's products are distributed in 49 states , the District of Columbia and 14 foreign countries through its restaurant system , Branded Product Program and retail licensing activities . Following the sale of Miami Subs , Nathan 's restaurant system consisted of 291 franchised or licensed units and six company - owned units ( including one seasonal unit ) featuring the Nathan 's and Kenny Rogers Roasters brands . For additional information about Nathan 's or Kenny Rogers Roasters please visit our website at www.nathansfamous.com Except for historical information contained in this news release , the matters discussed are forward looking statements that involve risks and uncertainties . Words such as " anticipate " , " believe " , " estimate " , " expect " , " intend " , and similar expressions identify forward - looking statements , which are based on the current belief of the Company 's management , as well as assumptions made by and information currently available to the Company 's management . Among the factors that could cause actual results to differ materially are the following : the effect of business and economic conditions ; the impact of competitive products and pricing ; capacity ; the regulatory and trade environment ; and the risk factors reported from time to time in the Company 's SEC reports . The Company does not undertake any obligation to update such forward - looking statements .