ARC Group, Inc. announced financial results for the first quarter ended March 31, 2016. For the first quarter, the company's revenue increased 38% to $308,615 for the first quarter of 2016 from $223,016 for the first quarter of 2015. The company generated operating income of $121,186 for the first quarter of 2016 compared to an operating loss of $7,471 for the first quarter of 2015. The company generated net income of $100,642, or $0.02 per share, for the first quarter of 2016 compared to a net loss of $24,364, or $0.00 per share, for the first quarter of 2015. Net cash provided by operating activities increased $81,376 to $87,129 for the first quarter of 2016 from $5,753 for the first quarter of 2015.

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.