ARC Group, Inc. Announces Financial Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Second Quarter of 2016
For the second quarter of 2016, the company expects second quarter of 2016 to be another strong quarter for its. The company recently opened new restaurants in Pensacola, Florida and Kingsland, Georgia that will contribute additional royalties for the company, and expect to announce additional restaurant openings during the quarter. The company's low-cost conversion options are also generating interest from prospective multi-unit franchisees, a segment of the franchising community that it has been investing heavily in. Accordingly, the company expects second quarter of 2016 revenue and net income to increase over the first quarter of 2016 levels.