Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
Document And Entity Information - USD ($) $ in Thousands	Mar. 26, 2017	Jun. 06, 2017	Sep. 25, 2016
Document Information [Line Items]
Entity Registrant Name	NATHANS FAMOUS INC
Entity Central Index Key	0000069733
Trading Symbol	nath
Current Fiscal Year End Date	--03-26
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		4,179,050
Entity Public Float			$ 143,198
Document Type	10-K
Document Period End Date	Mar. 26, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
CURRENT ASSETS
Cash	$ 56,915	$ 50,228
Accounts and other receivables, net	8,948	8,721
Inventories	579	687
Prepaid expenses and other current assets (Note F)	1,093	1,343
Total current assets	67,535	60,979
Property and equipment, net of accumulated depreciation of $7,522 and $7,190, respectively	8,844	9,013
Goodwill	95	95
Intangible asset	1,353	1,353
Other assets	298	109
Total assets	78,125	71,549
CURRENT LIABILITIES
Accounts payable	4,809	4,887
Accrued expenses and other current liabilities (Note I)	5,865	6,176
Total current liabilities	10,772	11,200
Long-term debt, net of unamortized debt issuance costs of $3,525 and $4,734, respectively (Note L)	131,475	130,266
Other liabilities (Note I)	1,555	1,706
Deferred income taxes	814	713
Total liabilities	144,616	143,885
COMMITMENTS AND CONTINGENCIES (Note N)
STOCKHOLDERS’ (DEFICIT)
Common stock, $.01 par value; 30,000,000 shares authorized; 9,303,870 and 9,274,066 shares issued; and 4,176,497 and 4,177,309 shares outstanding at March 26, 2017 and March 27, 2016, respectively	93	93
Additional paid-in capital	60,582	60,950
(Accumulated deficit)	(49,863)	(57,348)
Stockholders’ equity before treasury stock	10,812	3,695
Treasury stock, at cost, 5,127,373 and 5,096,757 shares at March 26, 2017 and March 27, 2016, respectively	(77,303)	(76,031)
Total stockholders’ (deficit)	(66,491)	(72,336)
Total liabilities and stockholders’ (deficit)	78,125	71,549
Deferred Franchise Fees [Member]
CURRENT LIABILITIES
Deferred franchise fees	$ 98	$ 137

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Property and equipment, accumulated depreciation	$ 7,522	$ 7,190
Long-term debt, unamortized debt issuance costs	$ 3,525	$ 4,734
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	9,303,870	9,274,066
Common stock, shares outstanding (in shares)	4,176,497	4,177,309
Treasury stock, shares (in shares)	5,127,373	5,096,757

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
REVENUES
Sales	$ 71,216	$ 76,031	$ 75,520
License royalties	20,368	19,815	18,011
Franchise fees and royalties	5,068	5,044	5,581
Total revenues	96,652	100,890	99,112
COSTS AND EXPENSES
Cost of sales	52,030	57,998	61,951
Restaurant operating expenses	3,386	3,557	3,747
Depreciation and amortization	1,297	1,255	1,253
General and administrative expenses	13,659	13,117	12,203
Total costs and expenses	70,372	75,927	79,154
Income from operations	26,280	24,963	19,958
Interest expense	(14,665)	(14,630)	(816)
Interest income	104	52	176
Impairment charge – long-term investment (Note G)		(100)
Other income, net	85	99	87
Income before provision for income taxes	11,804	10,384	19,405
Provision for income taxes	4,319	4,288	7,702
Net income	$ 7,485	$ 6,096	$ 11,703
Income per share:
Basic (in dollars per share)	$ 1.79	$ 1.38	$ 2.61
Diluted (in dollars per share)	1.78	1.37	2.55
Cash dividends declared per share (in dollars per share)			$ 25
Weighted average shares used in computing income per share:
Basic (in shares)	4,172,000	4,430,000	4,486,000
Diluted (in shares)	4,206,000	4,463,000	4,588,000

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Net income	$ 7,485	$ 6,096	$ 11,703
Other comprehensive loss, net of deferred income taxes:
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax			(102)
Less: Reclassification adjustment for gains included in net income		47
Other comprehensive loss		(47)	(102)
Comprehensive income	$ 7,485	$ 6,049	$ 11,601

Consolidated Statements of Stockholders' (Deficit) Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Total
Balance at Mar. 29, 2015	$ 93,000	$ 60,196,000	$ (63,444,000)	$ 47,000	$ (56,800,000)	$ (59,908,000)
Balance (in shares) at Mar. 30, 2014	9,092,183				4,610,026
Balance at Mar. 30, 2014	$ 91,000	57,578,000	40,963,000	149,000	$ (54,884,000)	43,897,000
Shares issued in connection with share-based compensation plans (in shares)	159,914
Shares issued in connection with share-based compensation plans	$ 2,000	880,000				882,000
Withholding tax on net share settlement of share-based compensation plans		(3,693,000)				(3,693,000)
Repurchase of common stock (in shares)					37,661
Repurchase of common stock					$ (1,916,000)	(1,916,000)
Income tax benefit on stock option exercises		4,572,000				4,572,000
Share-based compensation		859,000				859,000
Reclassification adjustment for gains included in net income, net of deferred income tax benefit of $25
Unrealized losses on available-for-sale securities, net of deferred income tax benefit				(102,000)		(102,000)
Dividends declared			(116,110,000)			(116,110,000)
Net income			11,703,000			11,703,000
Balance (in shares) at Mar. 29, 2015	9,252,097				4,647,687
Balance at Mar. 27, 2016	$ 93,000	60,950,000	(57,348,000)	0	$ (76,031,000)	(72,336,000)
Balance at Mar. 29, 2015	$ 93,000	60,196,000	(63,444,000)	47,000	$ (56,800,000)	(59,908,000)
Shares issued in connection with share-based compensation plans (in shares)	21,969
Shares issued in connection with share-based compensation plans		89,000				89,000
Withholding tax on net share settlement of share-based compensation plans		(285,000)				(285,000)
Repurchase of common stock (in shares)					449,070
Repurchase of common stock					$ (19,231,000)	(19,231,000)
Income tax benefit on stock option exercises		228,000				228,000
Share-based compensation		722,000				722,000
Reclassification adjustment for gains included in net income, net of deferred income tax benefit of $25				(47,000)		(47,000)
Unrealized losses on available-for-sale securities, net of deferred income tax benefit
Net income			6,096,000			6,096,000
Balance (in shares) at Mar. 27, 2016	9,274,066				5,096,757
Balance at Mar. 26, 2017	$ 93,000	60,582,000	(49,863,000)		$ (77,303,000)	(66,491,000)
Balance at Mar. 27, 2016	$ 93,000	60,950,000	(57,348,000)	0	(76,031,000)	(72,336,000)
Shares issued in connection with share-based compensation plans (in shares)	29,804
Shares issued in connection with share-based compensation plans		44,000				44,000
Withholding tax on net share settlement of share-based compensation plans		(994,000)				$ (994,000)
Repurchase of common stock (in shares)					30,616	30,616
Repurchase of common stock					$ (1,272,000)	$ (1,272,000)
Share-based compensation		582,000				582,000
Reclassification adjustment for gains included in net income, net of deferred income tax benefit of $25
Unrealized losses on available-for-sale securities, net of deferred income tax benefit
Net income			$ 7,485,000			$ 7,485,000
Balance (in shares) at Mar. 26, 2017	9,303,870				5,127,373

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Cash flows from operating activities:
Net income	$ 7,485,000	$ 6,096,000	$ 11,703,000
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	1,297,000	1,255,000	1,253,000
Amortization of bond premium		64,000	164,000
Gain on sale of marketable equity securities		(26,000)
Gain on sale of property and equipment		(18,000)
Amortization of debt issuance costs	1,209,000	1,185,000	66,000
Share-based compensation expense	582,000	722,000	859,000
Income tax benefit on stock option exercises	659,000
Provision for doubtful accounts	53,000	38,000	23,000
Impairment charge – long-term investment		100,000
Deferred income taxes	101,000	(13,000)	111,000
Changes in operating assets and liabilities:
Accounts and other receivables, net	(280,000)	740,000	(2,417,000)
Insurance proceeds received for business interruption claim			718,000
Inventories	108,000	135,000	125,000
Prepaid expenses and other current assets	250,000	3,189,000	(1,403,000)
Other assets	(189,000)	138,000	181,000
Accounts payable, accrued expenses and other current liabilities	(673,000)	(293,000)	1,779,000
Deferred franchise fees	(39,000)	(141,000)	44,000
Other liabilities	(151,000)	(691,000)	79,000
Net cash provided by operating activities	10,412,000	12,480,000	13,285,000
Cash flows from investing activities:
Proceeds from sales and maturities of available-for-sale securities		10,868,000	8,020,000
Proceeds from disposal of property and equipment		133,000
Purchase of property and equipment	(1,128,000)	(1,125,000)	(1,538,000)
Purchase of available-for-sale securities		(3,887,000)	(4,258,000)
Net cash (used in) provided by investing activities	(1,128,000)	5,989,000	2,224,000
Cash flows from financing activities:
Proceeds from issuance of long-term debt			135,000,000
Debt issuance costs		(60,000)	(5,926,000)
Dividends paid to stockholders	(375,000)	(375,000)	(115,110,000)
Repurchase of treasury stock	(1,272,000)	(19,231,000)	(1,916,000)
Proceeds from the exercise of stock options	44,000	89,000	880,000
Income tax benefit on stock option exercises		228,000	4,572,000
Payments of withholding tax on net share settlement of share-based compensation plans	(994,000)	(285,000)	(3,693,000)
Net cash (used in) provided by financing activities	(2,597,000)	(19,634,000)	13,807,000
Net increase (decrease) in cash and cash equivalents	6,687,000	(1,165,000)	29,316,000
Cash and cash equivalents, beginning of year	50,228,000	51,393,000	22,077,000
Cash and cash equivalents, end of year	56,915,000	50,228,000	51,393,000
Interest	13,500,000	13,688,000
Income taxes	$ 4,049,000	$ 848,000	$ 4,545,000

Note A - Description and Organization of Business	12 Months Ended
Note A - Description and Organization of Business	Mar. 26, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE A - DESCRIPTION AND ORGANIZATION OF BUSINESS Nathan’s Famous, Inc. and subsidiaries (collectively the “Company” or “Nathan’s”) has historically operated or franchised a chain of retail fast food restaurants featuring the “Nathan’s World Famous Beef Hot Dog”, crinkle-cut French-fried potatoes and a variety of other menu offerings. Nathan’s has also established a Branded Product Program, which enables foodservice retailers to sell select Nathan’s proprietary products outside of the realm of a traditional franchise relationship. Nathan’s also licenses the manufacture and sale of “Nathan’s Famous” packaged hot dogs, crinkle-cut French fries and a number of other products to a variety of third parties for sale to supermarkets, club stores and grocery stores. The Company is also the owner of the Arthur Treacher’s brand. Arthur Treacher’s main product is its "Original Fish & Chips" product consisting of fish fillets coated with a special batter prepared under a proprietary formula, deep-fried golden brown, and served with English-style chips and corn meal "hush puppies." The Company considers itself to be a brand marketer to the foodservice industry, pursuant to its various business structures. Nathan’s has also pursued co-branding and co-hosting initiatives. At March 26, 2017, the Company’s restaurant system included five Company-owned units in the New York City metropolitan area and 279 franchised or licensed units, located in 19 states and 12 foreign countries.

Note B - Summary of Significant Accounting Policies

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Significant Accounting Policies [Text Block]

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following significant accounting policies have been applied in the preparation of the consolidated financial statements:

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation.

Fiscal Year

The Company’s fiscal year ends on the last Sunday in

March,

which results in a

-week reporting period. The results of operations and cash flows for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

are on the basis of a

-week reporting period.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Significant estimates made by management in preparing the consolidated financial statements include revenue recognition, the allowance for doubtful accounts, valuation of stock-based compensation, accounting for income taxes, and the valuation of goodwill, intangible assets and other long-lived assets.

Inventories

Inventories, which are stated at the lower of cost or market value, consist primarily of food items and supplies. Cost is determined using the

first

-in,

first

-out method.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Major improvements are capitalized and minor replacements, maintenance and repairs are charged to expense as incurred. Depreciation and amortization are calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the estimated useful life or the lease term of the related asset. The estimated useful lives are as follows:

Building and improvements (in years)	5	–	25
Machinery, equipment, furniture and fixtures (in years)	3	–	15
Leasehold improvements (in years)	5	–	20

Goodwill and Intangible Assets

Goodwill and intangible assets consist of (i) goodwill of

$95

resulting from the acquisition of Nathan’s in

1987;

and (ii) trademarks, trade names and other intellectual property of

$1,353

in connection with Arthur Treacher’s.

The Company’s goodwill and intangible assets are deemed to have indefinite lives and, accordingly, are

not

amortized, but are evaluated for impairment at least annually, but more often whenever changes in facts and circumstances occur which

may

indicate that the carrying value

may

not

be recoverable. As of

March 26, 2017

and

March 27, 2016,

the Company performed its required annual impairment test of goodwill and intangible assets and has determined

impairment is deemed to exist.

Long-lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value

may

not

be recoverable. Impairment is measured by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from use of the assets and their ultimate disposition. In instances where impairment is determined to exist, the Company writes down the asset to its fair value based on the present value of estimated future cash flows.

Impairment losses are recorded on long-lived assets on a restaurant-by-restaurant basis whenever impairment factors are determined to be present. The Company considers a history of restaurant operating losses to be its primary indicator of potential impairment for individual restaurant locations.

long-lived assets were deemed impaired during the fiscal years

March 26, 2017,

March 27, 2016

and

March 29, 2015.

Fair Value of Financial Instruments

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).

The fair value hierarchy, as outlined in the applicable accounting guidance, is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions.

The fair value hierarchy consists of the following

three

levels:

	●	Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market

	●	Level 2 - inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability

	●	Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability

The use of observable market inputs (quoted market prices) when measuring fair value and, specifically, the use of Level

quoted prices to measure fair value are required whenever possible. The determination of where an asset or liability falls in the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures quarterly and based on various factors, it is possible that an asset or liability

may

be classified differently from year to year.

March 26, 2017

and

March 27, 2016,

we did

not

have any assets or liabilities that were recorded at fair value.

The Company's long-term debt had a face value of

$135,000

as of

March 26, 2017

and a fair value of

$145,125

as of

March 26, 2017.

The Company estimates the fair value of its long-term debt based upon review of observable pricing in secondary markets as of the last trading day of the fiscal period. Accordingly, the Company classifies its long-term debt as Level

The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of the instruments.

The majority of the Company’s non-financial assets and liabilities are

not

required to be carried at fair value on a recurring basis. However, the Company is required on a non-recurring basis to use fair value measurements when analyzing asset impairment as it relates to goodwill and other indefinite-lived intangible assets and long-lived assets. The Company utilized the income approach (Level

inputs) which utilized cash flow forecasts for future income and were discounted to present value in performing its annual impairment testing of intangible assets.

Start-up Costs

Pre-opening and similar restaurant costs are expensed as incurred.

10.

Revenue Recognition - Branded Product Program

The Company recognizes sales from the Branded Product Program and certain products sold from the Branded Menu Program upon delivery to Nathan’s customers via

third

party common carrier. Rebates provided to customers are classified as a reduction to sales.

11.

Revenue Recognition - Company-owned Restaurants

Sales by Company-owned restaurants, which are typically paid in cash or credit card by the customer, are recognized at the point of sale. Sales are presented net of sales tax.

12.

Revenue Recognition - Franchising Operations

In connection with its franchising operations, the Company receives initial franchise fees, international development fees, royalties, and in certain cases, revenue from sub-leasing restaurant properties to franchisees.

Franchise and international development fees, which are typically received prior to completion of the revenue recognition process, are initially recorded as deferred revenue. Initial franchise fees, which are non-refundable, are recognized as income when substantially all services to be performed by Nathan’s and conditions relating to the sale of the franchise have been performed or satisfied, which generally occurs when the franchised restaurant commences operations.

The following services are typically provided by the Company prior to the opening of a franchised restaurant:

	o	Approval of all site selections to be developed.
	o	Provision of architectural plans suitable for restaurants to be developed.
	o	Assistance in establishing building design specifications, reviewing construction compliance and equipping the restaurant.
	o	Provision of appropriate menus to coordinate with the restaurant design and location to be developed.
	o	Provision of management training for the new franchisee and selected staff.
	o	Assistance with the initial operations of restaurants being developed.

International development fees are recognized, net of direct expenses, upon the opening of the

first

restaurant within the territory. In each case, this is when the Company has performed substantially all initial services required by the agreements.

March 26, 2017

and

March 27, 2016,

$98

and

$137,

respectively, of deferred franchise fees are included in the accompanying consolidated balance sheets. For the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

the Company earned franchise fees of

$778,

$751

and

$1,043,

respectively, from new unit openings, transfers, co-branding and forfeitures.

Development fees are non-refundable and the related agreements require the franchisee to open a specified number of restaurants in the development area within a specified time period or the agreements

may

be canceled by the Company. Revenue from development agreements is deferred and shall be recognized, with an appropriate provision for estimated uncollectible amounts, when all material services or conditions to the sale have been substantially performed by the franchisor.

If substantial obligations under the development agreement are

not

dependent on the number of individual franchise locations to be opened, substantial performance shall be determined using the same criteria applicable to an individual franchise, which is generally the opening of the

first

location pursuant to the development agreement. If substantial performance is dependent on the number of locations, then the development fee is deferred and recognized ratably over the term of the agreement, as restaurants in the development area commence operations on a pro rata basis to the minimum number of restaurants required to be open, or at the time the development agreement is effectively canceled. At

March 26, 2017

and

March 27, 2016,

$67

and

$129,

respectively, of deferred development fee revenue is included in other liabilities in the accompanying consolidated balance sheets.

The following is a summary of franchise openings and closings for the Nathan’s franchise restaurant system for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015:

	March 26			March 27,			March 29,
	2017			2016			2015

Franchised restaurants operating at the beginning of the period		259			296			324

New franchised restaurants opened during the period		53			56			36

Franchised restaurants closed during the period		(33	)		(93	)		(64	)

Franchised restaurants operating at the end of the period		279			259			296

The Company recognizes franchise royalties on a monthly basis, which are generally based upon a percentage of sales made by the Company’s franchisees, when they are earned and deemed collectible. The Company recognizes royalty revenue from its Branded Menu Program directly from the sale of Nathan’s products by its primary distributor or directly from the manufacturers.

Franchise fees and royalties that are

not

deemed to be collectible are

not

recognized as revenue until paid by the franchisee or until collectibility is deemed to be reasonably assured.

13.

Revenue Recognition – License Royalties

The Company earns revenue from royalties on the licensing of the use of its intellectual property in connection with certain products produced and sold by outside vendors. The use of the Company’s intellectual property must be approved by the Company prior to each specific application to ensure proper quality and a consistent image. Revenue from license royalties is generally based on a percentage of sales, subject to certain annual minimum royalties, recognized on a monthly basis when it is earned and deemed collectible.

14.

Business Concentrations and Geographical Information

The Company’s accounts receivable consist principally of receivables from franchisees for royalties and advertising contributions, from sales under the Branded Product Program, and from royalties from retail licensees. At

March 26, 2017,

four

Branded Product customers represented

21%,

15%,

12%

and

8%,

of accounts receivable. At

March 27, 2016,

four

Branded Product customers represented

19%,

14%,

and

8%,

of accounts receivable. One Branded Products customer accounted for

12%,

14%

and

17%

of total revenue for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. One retail licensee accounted for

20%,

19%

and

17%

of the total revenue for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

The Company’s primary supplier of hot dogs represented

78%,

81%

and

83%

of product purchases for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. The Company’s distributor of products to its Company-owned restaurants represented

of product purchases for each of the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

The Company’s revenues for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were derived from the following geographic areas:

	March 26, 2017		March 27, 2016		March 29, 2015

Domestic (United States)	$	90,466	$	95,655	$	95,682
Non-domestic		6,186		5,235		3,430
	$	96,652	$	100,890	$	99,112

The Company’s sales for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were derived from the following:

	March 26, 2017		March 27, 2016		March 29, 2015

Branded Products	$	55,960	$	58,545	$	58,948
Company-owned restaurants		15,042		16,664		15,874
Other		214		822		698
	$	71,216	$	76,031	$	75,520

15.

Advertising

The Company administers an advertising fund on behalf of its restaurant system to coordinate the marketing efforts of the Company. Under this arrangement, the Company collects and disburses fees paid by manufacturers, franchisees and Company-owned stores for national and regional advertising, promotional and public relations programs. Contributions to the advertising fund are based on specified percentages of net sales, generally ranging up to

2%.

Company-owned store advertising expense, which is expensed as incurred, was

$182,

$191

and

$175,

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively, and have been included within restaurant operating expenses in the accompanying consolidated statements of earnings.

16.

Stock-Based Compensation

March 26, 2017,

the Company had

one

stock-based compensation plan in effect which is more fully described in Note M.

The cost of all share-based payments, including grants of restricted stock and stock options, is recognized in the financial statements based on their fair values measured at the grant date, or the date of any later modification, over the requisite service period. The Company recognizes compensation cost for unvested stock awards on a straight-line basis over the requisite vesting period.

17.

Classification of Operating Expenses

Cost of sales consists of the following:

	o	The cost of food and other products sold by Company-operated restaurants, through the Branded Product Program and through other distribution channels.
	o	The cost of labor and associated costs of in-store restaurant management and crew.
	o	The cost of paper products used in Company-operated restaurants.
	o	Other direct costs such as fulfillment, commissions, freight and samples.

Restaurant operating expenses consist of the following:

	o	Occupancy costs of Company-operated restaurants.
	o	Utility costs of Company-operated restaurants.
	o	Repair and maintenance expenses of Company-operated restaurant facilities.
	o	Marketing and advertising expenses done locally and contributions to advertising funds for Company-operated restaurants.
	o	Insurance costs directly related to Company-operated restaurants.

18.

Income Taxes

The Company’s current provision for income taxes is based upon its estimated taxable income in each of the jurisdictions in which it operates, after considering the impact on taxable income of temporary differences resulting from different treatment of items for tax and financial reporting purposes and income tax benefits from share-based payments, as fully described in Note

B.19.

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and any operating loss or tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those periods in which temporary differences become deductible. Should management determine that it is more likely than

not

that some portion of the deferred tax assets will

not

be realized, a valuation allowance against the deferred tax assets would be established in the period such determination was made.

Uncertain Tax Positions

The Company has recorded liabilities for underpayment of income taxes and related interest and penalties for uncertain tax positions based on the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The Company

may

recognize the tax benefit from an uncertain tax position only if it is more likely than

not

that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such position should be measured based on the largest benefit that has a greater than

fifty

percent likelihood of being realized upon ultimate settlement. Nathan’s recognizes accrued interest and penalties associated with unrecognized tax benefits as part of the income tax provision.

. Adoption of New Accounting Pronouncements

March 2016,

the Financial Accounting Standards Board (the “FASB”), issued new guidance which addresses how companies account for certain aspects of its share-based payments to employees. The update simplifies the accounting for the tax consequences. It also amends how excess tax benefits and a company’s payments to cover the tax bills for the shares’ recipients should be classified on the statement of cash flows related to share-based payments to employees. The amendments allow companies to estimate the number of stock awards they expect to vest, and the amendments revised the withholding requirements for classifying stock awards as equity. Previously, tax withholding was permitted only at the minimum statutory tax rates, which is being amended to permit higher income tax withholding as long as it does

not

exceed the maximum statutory tax rate for an employee in the applicable jurisdictions. This new standard is effective for public companies with fiscal years beginning after

December 15, 2016

which will be Nathan’s

first

quarter ending (

June 2017)

of our fiscal year ending on

March 25, 2018.

However, early adoption is permitted.

The Company elected to early adopt this standard in the quarter ended

June 26, 2016.

The impact of the early adoption resulted in the Company recording tax benefits of

$659

within income tax expense for the year ended

March 26, 2017,

related to the excess tax benefit on stock incentive awards that settled during the period. Prior to adoption of this guidance, this amount would have increased additional paid-in capital. These items shall

not

be factored into the projected annual income tax rate, but will be treated as discrete items when they occur. Accordingly, this new treatment will add additional volatility in the Company’s effective tax rate.

The excess tax benefits for the years ended

March 27, 2016

and

March 29, 2015

were

$228

and

$4,572,

respectively which increased additional paid-in-capital.

The Company accounts for forfeitures as they occur. Under the new guidance, excess tax benefits related to employee share-based payments of

$659

are classified as operating activities in the statement of cash flows for the

fifty-two

weeks ended

March 26, 2017.

The Company applied the effect of the guidance to the presentation of excess tax benefits in the statement of cash flows prospectively and

prior periods have been adjusted. The Company did

not

record any cumulative-effect adjustment to accumulated deficit or net assets as a result of adopting this new accounting standard. The Company also modified its diluted earnings per share calculation by excluding the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the

thirteen

and

fifty-two

weeks ended

March 26, 2017.

August 2014,

the FASB issued new guidance that requires management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within

one

year after the date that the financial statements are issued. If such conditions exist, management is required to include disclosures enabling users to understand those conditions and management’s plans to alleviate or mitigate those conditions. This new standard is effective for annual periods ending after

December 15, 2016

and interim periods within annual periods beginning after

December 16, 2016.

This guidance was effective for the Company beginning in the

fourth

quarter of fiscal

2017

and did

not

have a material impact on the Company’s results of operations or financial position.

New Accounting Pronouncements

Not

Yet

Adopt

May 2014,

the FASB issued a new accounting standard that attempts to establish a uniform basis for recording income to virtually all industries financial statements, under U.S. GAAP as further amended during

2016.

The FASB issued certain updates to the standard, including clarifying reporting revenue between Principle versus Agent and clarification in determining performance obligations and licenses guidance. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled.

In order to accomplish this objective, companies must evaluate the following

five

basic steps: (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation.

There are

two

basic transition methods that are available – full retrospective, or modified retrospective transition methods. Early adoption is prohibited. Public companies were originally expected to apply the new standard for annual periods beginning after

December 15, 2016,

including interim periods therein, which for Nathan’s would have been its

first

quarter of fiscal

2018,

beginning on

March 27, 2017.

July 9, 2015,

the FASB agreed to delay the standard’s effective date to annual reporting periods beginning after

December 15, 2017

which will now be our

first

quarter (

June 2018)

of our fiscal year ending

March 31, 2019.

The Company does

not

believe that the standard will impact its recognition of revenue for its Branded Product Program, Company-operated restaurants or its recognition of royalties from its franchised restaurants or retail licenses, which are based on a percentage of sales. Currently, franchise and international development fees are recognized when the Company has performed substantially all initial services required by the agreements, which is generally when the franchisee begins operations. Under the new guidance, these fees

may

be recognized over the term of the agreements. The Company is currently evaluating the impact of the pending adoption of the new revenue recognition standard on its consolidated financial statements and has

not

yet selected a transition method. The Company anticipates assigning internal resources to assist with the evaluation and implementation of the new standard, and will continue to provide updates during fiscal year

2018.

July 2015,

the FASB updated U.S. accounting guidance to simplify the ways businesses measure inventory. Companies that use the

first

-in,

first

-out (FIFO) method or the average cost method will measure inventory at the lower of its cost or net realizable value. Net realizable value is the estimated selling price in the normal course of business, minus the cost of completion, disposal, and transportation. Companies will

longer consider replacement cost or net realizable value less a normal profit margin when measuring inventory. This new standard is effective for annual reporting periods beginning after

December 15, 2016

which will be our

first

quarter (

June 2017)

of our fiscal year ending

March 25, 2018.

Nathan’s does

not

expect the adoption of this new guidance to have a material impact on its results of operations or financial position.

February 2016,

the FASB issued a new accounting standard on leases. The new standard, among other changes, will require lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases. The lease liability will be measured at the present value of the lease payments over the lease term. The right-of-use asset will be measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and the lessee’s initial direct costs (e.g. commissions). The new standard is effective for annual reporting periods beginning after

December 15, 2018,

including interim reporting periods within those annual reporting periods. This standard is required to take effect in Nathan’s

first

quarter ending (

June 2019)

of our fiscal year ending

March 29, 2020.

The adoption will require a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest period presented. The Company is currently evaluating the impact of this new accounting standard on its consolidated financial position and results of operations.

January 2017,

the FASB issued a new accounting standard that narrows the definition of a business. The concept is fundamental in determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The ASU revised the definition of a business to consist of the following key concepts:

	●	A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs, or other economic benefits directly to investors or other owners, members, or participants.
	●	To be capable of being conducted and managed for the purposes described above, an integrated set of activities and assets requires two essential elements–inputs and a substantive process(es) applied to those inputs.

The amendments are effective prospectively for public business entities for annual reporting periods beginning after

December 15, 2017.

This standard is required to take effect in Nathan’s

first

quarter ending (

June 2018)

of our fiscal year ending

March 31, 2019.

The Company does

not

expect this new accounting standard will have a material effect on the Company’s results of operations, cash flows or financial position. Early adoption is permitted when certain criteria are met.

The Company does

not

believe that any other recently issued, but

not

yet effective accounting standards, when adopted, will have a material effect on the accompanying financial statements.

Note C - Income Per Share

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE C - INCOME PER SHARE

Basic income per common share is calculated by dividing income by the weighted-average number of common shares outstanding and excludes any dilutive effect of stock options. Diluted income per common share gives effect to all potentially dilutive common shares that were outstanding during the period. Dilutive common shares used in the computation of diluted income per common share result from the assumed exercise of stock options and warrants, as determined using the treasury stock method.

The following chart provides a reconciliation of information used in calculating the per-share amounts for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively:

	Net Income						Shares						Net income per share
	2017		2016		2015		2017		2016		2015		2017			2016			2015

Basic EPS
Basic calculation	$	7,485	$	6,096	$	11,703		4,172,000		4,430,000		4,486,000	$	1.79		$	1.38		$	2.61
Effect of dilutive employee stock options		-		-		-		34,000		33,000		102,000		(.01	)		(.01	)		(.06	)

Diluted EPS
Diluted calculation	$	7,485	$	6,096	$	11,703		4,206,000		4,463,000		4,588,000	$	1.78		$	1.37		$	2.55

options to purchase shares of common stock for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were excluded from the computation of diluted earnings per share.

Note E - Accounts and Other Receivables, Net

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE E - ACCOUNTS AND OTHER RECEIVABLES, NET

Accounts and other receivables, net, consist of the following:

	March 26 ,		March 27,
	201 7		2016

Branded product sales	$	6,037	$	5,689
Franchise and license royalties		2,746		2,592
Other		622		911
		9,405		9,192

Less: allowance for doubtful accounts		457		471

Accounts and other receivables, net	$	8,948	$	8,721

Accounts receivable are due within

days and are stated at amounts due from franchisees, retail licensees and Branded Product Program customers, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are generally considered past due. The Company does

not

recognize franchise and license royalties that are

not

deemed to be realizable.

The Company individually reviews each past due account and determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current and expected future ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole. Based on management’s assessment, the Company provides for estimated uncollectible amounts through a charge to earnings. After the Company has used reasonable collection efforts, it writes off accounts receivable through a charge to the allowance for doubtful accounts.

Changes in the Company’s allowance for doubtful accounts for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

are as follows:

	March 26, 2017			March 27, 2016			March 29, 2015

Beginning balance	$	471		$	443		$	433
Bad debt expense		53			38			23
Accounts written off		(67	)		(10	)		(13	)

Ending balance	$	457		$	471		$	443

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Note G - Long-term Investment	12 Months Ended
Note G - Long-term Investment	Mar. 26, 2017
Notes to Financial Statements
Cost-method Investments, Description [Text Block]	NOTE G – LONG-TERM INVESTMENT In September 2012, Nathan’s purchased 351,550 shares of Series A Preferred Stock in a privately-owned corporation for $500. Nathan’s investment currently represents a 2.5% equity ownership in the entity and Nathan’s does not have the ability to exercise significant influence over the investee. The shares have voting rights on the same basis as the common shareholders and have certain dividend rights, if declared. Nathan’s accounts for this investment pursuant to the cost method and recognizes dividends distributed by the investee as income to the extent that dividends are distributed from net accumulated earnings of the investee. There were no dividends declared by the investee during the fifty-two week periods ended March 26, 2017 or March 27, 2016. Each reporting period, management reviewed the carrying value of this investment based upon the financial information provided by the investment’s management and considers whether indicators of impairment exist. If an impairment indicator exists, management evaluates the fair value of its investment to determine if an, other-than-temporary impairment in value has occurred. We are required to recognize an impairment on the investment if such impairment is considered to be other-than-temporary. At March 27, 2016, we performed our evaluation of whether indicators of impairment existed, and determined that an other-than-temporary impairment has occurred and recorded impairment charges of $100 on this investment during the fifty-two week periods ended March 27, 2016, based on the Company’s expected inability to recover its remaining investment. As of March 26, 2017 and March 27, 2016, the investment has been fully impaired and has no carrying value on the accompanying balance sheets.

Note J - Income Taxes

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE J - INCOME TAXES

The income tax provision consists of the following for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015:

	March 26, 2017		March 27, 2016			March 29, 2015
Federal
Current	$	3,024	$	3,176		$	5,992
Deferred		79		(11	)		60
Total Federal income tax		3,103		3,165			6,052
State and local
Current		1,195		1,135			1,599
Deferred		21		(12	)		51
Total State and local income tax		1,216		1,123			1,650
Total provision for income taxes	$	4,319	$	4,288		$	7,702

The total income tax provision for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

differs from the amounts computed by applying the United States Federal income tax rate of

34%,

34%

and

35%,

respectively to income before income taxes as a result of the following:

	March 26 , 201 7			March 27, 2016			March 29, 2015

Computed “expected” tax expense	$	4,013		$	3,531		$	6,792
State and local income taxes, net of Federal income tax benefit		797			826			1,112
Tax-exempt investment earnings		-			(9	)		(63	)
Change in uncertain tax positions, net		(11	)		(129	)		(62	)
Nondeductible meals and entertainment and other		61			69			(77	)
Nondeductible compensation		118			-			-
Tax benefit share based payments		(659	)		-			-
Total provision for income taxes	$	4,319		$	4,288		$	7,702

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

	March 26 ,			March 27,
	201 7			2016
Deferred tax assets
Accrued expenses	$	361		$	236
Allowance for doubtful accounts		59			62
Deferred revenue		347			393
Deferred stock compensation		224			271
Excess of straight line over actual rent		338			379
Investment		187			151
Other		104			119
Total gross deferred tax assets	$	1,620		$	1,611

Deferred tax liabilities
Deductible prepaid expense		288			263
Depreciation expense		1,771			1,717
Amortization		374			344
Total gross deferred tax liabilities		2,433			2,324
Net deferred tax (liability)	$	(813	)	$	(713	)

A valuation allowance is provided when it is more likely than

not

that some portion, or all, of the deferred tax assets will

not

be realized. We consider the level of historical taxable income, scheduled reversal of temporary differences, tax planning strategies and projected future taxable income in determining whether a valuation allowance is warranted. Based upon these considerations, management believes that it is more likely than

not

that the Company will realize the benefit of its gross deferred tax asset.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties, for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015.

	March 26, 2017			March 27, 2016			March 29, 2015

Unrecognized tax benefits, beginning of year	$	208		$	266		$	283
Decreases of tax positions taken in prior years		(31	)		(98	)		(64	)
Increases based on tax positions taken in current year		41			43			47
Settlements of tax positions taken in prior years		(51	)		(3	)		-
Unrecognized tax benefits, end of year	$	167		$	208		$	266

The amount of unrecognized tax benefits at

March 26, 2017,

March 27, 2016

and

March 29, 2015

were

$167

$208

and

$266,

respectively, all of which would impact Nathan’s effective tax rate, if recognized. As of

March 26, 2017

and

March 27, 2016,

the Company had

$183

and

$200,

respectively, accrued for the payment of interest and penalties. For the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

Nathan’s recognized interest and penalties in the amounts of

$29,

$34

and

$44,

respectively. The Company believes that it is reasonably possible that decreases in unrecognized tax benefits of up to

may

be recorded within the next year.

June 2016,

Nathan’s received notification from the Internal Revenue Service that it was seeking to review Nathan’s federal tax return for the period

April 1, 2014

through

March 31, 2015.

The income tax examination has been completed with

changes to the original return as filed.

May 2014,

Nathan’s received notification from the Internal Revenue Service that it is seeking to review its tax return for the year ended

March 31, 2013.

The income tax examination has been completed with

changes to the original return as filed.

June 2015,

Nathan’s received notification from the New York State Department of Taxation and Finance that it will review Nathan’s tax returns for the period

April 1, 2011

through

March 31, 2014.

The income tax examination has been completed with

changes to the original return as filed.

The earliest tax years’ that are subject to examination by taxing authorities by major jurisdictions are as follows:

Jurisdiction	Fiscal Year
Federal	2014
New York State	2014
New York City	2014
New Jersey	2013
Pennsylvania	2014

Note K - Segment Information

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE

–

SEGMENT

FORMATION

Nathan’s considers itself to be a brand marketer of the Nathan’s Famous signature products to the foodservice industry pursuant to its various business structures. Nathan’s sells its products directly to consumers through its Restaurant operations segment consisting of Company-operated and franchised restaurants, to distributors that resell our products to the foodservice industry through the Branded Product Program (“BPP”) and by

third

party manufacturers pursuant to license agreements that sell our products to club stores and grocery stores nationwide. Historically, Nathan’s determined it was comprised of

one

segment using the management approach whereby the Company’s Chief Operating Decision Maker (“CODM”) responsibility was shared between the CEO and COO and considered itself to be solely in the foodservice segment. As a result of management changes that culminated during fiscal

2017

along with the implementation of a new executive incentive program aligning such compensation solely based on segment results, Nathan’s recognized its reporting structure into

three

segments to align with the current year organizational changes. Under our current structure, the Company's Chief Executive Officer has been identified as the CODM. The CODM evaluates performance and allocates resources for the Branded Product Program, Product Licensing and Restaurant Operations segments based upon a number of factors, the primary profit measure being income from operations. Certain costs are

not

allocated to the segments and are reported within Corporate. Prior year information has been presented to reflect the changes.

Revenues from operating segments are from transactions with unaffiliated

third

parties and do

not

include any intersegment revenues.

Income from operations attributable to Corporate consists principally of administrative expenses

not

allocated to the operating segments such as executive management, finance, information technology, legal, insurance, corporate office costs, corporate incentive compensation and compliance costs.

Interest expense, interest income, impairment charge – long-term investment and other income, net are managed centrally at the corporate level, and, accordingly, such items are

not

presented by segment since they are excluded from the measure of profitability reviewed by the CODM.

Corporate assets consist primarily of cash and long-lived assets.

Operating segment information is as follows:

	Fifty- Two			Fifty-Two			Fifty-Two
	weeks ended			weeks ended			weeks ended
	March 26, 2017			March 27, 2016			March 29, 2015
Revenues
Branded Product Program	$	56,174		$	59,367		$	59,646
Product licensing		20,368			19,815			18,011
Restaurant operations		20,110			21,708			21,455
Corporate		-			-			-
Total revenues	$	96,652		$	100,890		$	99,112

Income from operations
Branded Product Program	$	10,257		$	8,394		$	4,497
Product licensing		20,186			19,812			18,000
Restaurant operations		4,101			5,253			5,604
Corporate		(8,264	)		(8,496	)		(8,143	)
Income from operations	$	26,280		$	24,963		$	19,958
Interest expense		(14,665	)		(14,630	)		(816	)
Interest income		104			52			176
Impairment charge – long-term investment (Note G)		-			(100	)		-
Other income, net		85			99			87
Income before provision for income taxes	$	11,804		$	10,384		$	19,405

Total assets
Branded Product Program	$	7,113	$	6,827	$	7,802
Product licensing		2,003		1,832		1,822
Restaurant operations		8,740		9,054		9,284
Corporate		60,269		53,836		65,481
Total assets	$	78,125	$	71,549	$	84,389

Depreciation & amortization expense
Branded Product Program	$	316	$	370	$	389
Product licensing		-		-		-
Restaurant operations		762		710		644
Corporate		219		175		220
Total depreciation & amortization expense	$	1,297	$	1,255	$	1,253

Note L - Long-term Debt

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE

–

LONG-TERM DEBT

Long-term debt consists of the following:

	March 2 6 ,			March 27,
	201 7			2016

10.000% Senior Secured Notes due 2020	$	135,000		$	135,000
Less: unamortized debt issuance costs		(3,525	)		(4,734	)
Long-term debt, net	$	131,475		$	130,266

March 10, 2015,

the Company completed the issuance of

$135,000

10.000%

Senior Secured Notes due

2020

(“the Notes”) in a Rule

144A

transaction. The Notes were issued pursuant to an indenture, dated as of

March 10, 2015 (

the “Indenture”), by and among the Company, certain of its wholly-owned subsidiaries, as guarantors, and U.S. Bank National Association, a national banking association, as trustee and collateral trustee. The Company used the proceeds to pay a special cash dividend of approximately

$116,100

(

see Note

) with the remaining net proceeds for general corporate purposes, including working capital. Debt issuance costs of approximately

$5,985

were incurred which will be amortized into interest expense over the remaining

-year term of the Notes.

The Notes bear interest at

10.000%

per annum, payable semi-annually on

March

15th

and

September

15th

with payments of

$6,750

and

$6,750

paid on

September 15, 2016

and

March 15, 2017,

respectively. The Notes have

scheduled principal amortization payments prior to its final maturity on

March 10, 2020.

There are

financial maintenance covenants associated with the Notes. As of

March 26, 2017,

Nathan’s was in compliance with all covenants associated with the Notes.

The Indenture contains certain covenants limiting the Company’s ability and the ability of its restricted subsidiaries (as defined in the Indenture) to, subject to certain exceptions and qualifications: (i) incur additional indebtedness; (ii) pay dividends or make other distributions on, redeem or repurchase, capital stock; (iii) make investments or other restricted payments; (iv) create or incur certain liens; (v) incur restrictions on the payment of dividends or other distributions from its restricted subsidiaries; (vi) enter into certain transactions with affiliates; (vii) sell assets; or (viii) effect a consolidation or merger. Certain Restricted Payments which

may

be made or indebtedness incurred by Nathan’s or its Restricted Subsidiaries

may

require compliance with the following financial ratios:

Fixed Charge Coverage Ratio

: the ratio of the Consolidated Cash Flow to the Fixed Charges for the relevant period, currently set at

2.0

1.0

in the Indenture.

The Fixed Charge Coverage Ratio applies to determining whether additional Restricted Payments

may

be made, certain additional debt

may

be incurred and acquisitions

may

be made.

Priority Secured Leverage Ratio

: the ratio of (a) Consolidated Net Debt outstanding as of such date that is secured by a Priority Lien to (b) Consolidated Cash Flow of Nathan’s for the Test Period then most recently ended, in each case with such pro forma adjustments as are appropriate; currently set at

0.40

1.00

in the Indenture.

ecured Leverage Ratio

: the ratio of (a) Consolidated Net Debt outstanding as of such date that is secured by a Lien on any property of Nathan’s or any Guarantor to (b) Consolidated Cash Flow of Nathan’s for the Test Period then most recently ended, in each case with such pro forma adjustments as are appropriate. The Secured Leverage Ratio under the Indenture is

3.75

1.00

and applies if Nathan’s wants to incur additional debt on the same terms as the Notes.

The Indenture also contains customary events of default, including, among other things, failure to pay interest, failure to comply with agreements related to the Indenture, failure to pay at maturity or acceleration of other indebtedness, failure to pay certain judgments, and certain events of insolvency or bankruptcy. Generally, if any event of default occurs, the Trustee or the holders of at least

25%

in principal amount of the Notes

may

declare the Notes due and payable by providing notice to the Company. In case of default arising from certain events of bankruptcy or insolvency, the Notes will become immediately due and payable.

The Notes are general senior secured obligations, are fully and unconditionally guaranteed by substantially all of the Company’s wholly-owned subsidiaries and rank

pari passu

in right of payment with all of the Company’s existing and future indebtedness that is

not

subordinated, are senior in right of payment to any of the Company’s existing and future subordinated indebtedness, are structurally subordinated to any existing and future indebtedness and other liabilities of the Company’s subsidiaries that do

not

guarantee the Notes, and are effectively junior to all existing and future indebtedness that is secured by assets other than the collateral securing the Notes.

Pursuant to the terms of a collateral trust agreement, the liens securing the Notes and the guarantees will be contractually subordinated to the liens securing any future credit facility.

The Notes and the guarantees will be the Company and the guarantors’ senior secured obligations and will rank:

●	senior in right of payment to all of the Company and the guarantors’ future subordinated indebtedness;

●	effectively senior to all unsecured senior indebtedness to the extent of the value of the collateral securing the Notes and the guarantees;

●	pari passu with all of the Company and the guarantors’ other senior indebtedness;

●	effectively junior to any future credit facility to the extent of the value of the collateral securing any future credit facility and the Notes and the guarantees and certain other assets;

●	effectively junior to any of the Company and the guarantors’ existing and future indebtedness that is secured by assets other than the collateral securing the Notes and the guarantees to the extent of the value of any such assets; and

●	structurally subordinated to the indebtedness of any of the Company’s current and future subsidiaries that do not guarantee the Notes.

The Company

may

redeem the Notes in whole or in part prior to

September 15, 2017,

at a redemption price of

100%

of the principal amount of the Notes plus the Applicable Premium, plus accrued and unpaid interest. An Applicable Premium is the greater of

of the principal amount of the Notes; or the excess of the present value at such redemption date of (i) the redemption price of the Notes at

September 15, 2017

plus (ii) all required interest payments due on the Notes through

September 15, 2017 (

excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus

basis points; over the then outstanding principal amount of the Notes.

Prior to

September 15, 2017,

if using the net cash proceeds of certain equity offerings, the Company has the option to redeem up to

35%

of the aggregate principal amount of the Notes at a redemption price equal to

110%

of the principal amount of the Notes redeemed, plus accrued and unpaid interest and any additional interest.

On or after

September 15, 2017,

the Company

may

redeem some or all of the Notes at a decreasing premium over time, plus accrued and unpaid interest as follows:

YEAR	PERCENTAGE
On or after September 15, 2017 and prior to March 15, 2018		105.000%
On or after March 15, 2018 and prior to March 15, 2019		102.500%
On and after March 15, 2019		100.000%

In certain circumstances involving a change of control, the Company will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s Notes pursuant to the offer described below (the “Change of Control Offer”). In the Change of Control Offer, the Company will be required to offer payment in cash equal to

101%

of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, to the date of purchase.

If the Company sells certain assets and does

not

use the net proceeds as required, the Company will be required to use such net proceeds to repurchase the Notes at

100%

of the principal amount thereof, plus accrued and unpaid interest and additional interest penalty, if any, to the date of repurchase.

The Notes

may

be traded between qualified institutional buyers pursuant to Rule

144A

of the Securities Act of

1933.

We have recorded the Notes at cost.

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

– STOCKHOLDERS’ EQUITY, STOCK PLANS AND OTHER EMPLOYEE BENEFIT PLANS

Dividend

March 10, 2015,

the Company’s Board of Directors declared a special cash dividend of

$25.00

per share payable to stockholders of record as of

March 20, 2015

of which approximately

$115,100

was paid on

March 27, 2015

to the stockholders. The Company also accrued

$1,000

for the expected dividends payable on unvested shares pursuant to the terms of the restricted stock agreements. As unvested restricted stock grants, the declared dividend will be paid. We have paid

$750

of the accrued dividend and estimate that an additional

$125

will also be paid during each of our fiscal years ending

March 25, 2018

and

March 31, 2019.

The ex-date for the distribution was

March 30, 2015

pursuant to NASDAQ regulations for dividend distributions that are greater than

25%

of the Company’s market capitalization.

Stock

Incentive

Plans

September 14, 2010,

the Company’s shareholders approved the Nathan’s Famous, Inc.

2010

Stock Incentive Plan (the

“2010

Plan”),

which provides for the issuance of nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights and other stock-based awards to directors, officers and key employees. The Company was initially authorized to issue up to

150,000

shares of common stock under the

2010

Plan, together with any shares which had

not

been previously issued under the Company’s previous stock option plans as of

July 19, 2010 (

171,000

shares), plus any shares subject to any outstanding options or restricted stock grants under the Company’s previous stock option plans that were outstanding as of

July 19, 2010

and that subsequently expire unexercised, or are otherwise forfeited, up to a maximum of an additional

100,000

shares.

September 13, 2012,

the Company amended the

2010

Plan increasing the number of shares available for issuance by

250,000

shares. Shares to be issued under the

2010

Plan

may

be made available from authorized but unissued stock, common stock held by the Company in its treasury, or common stock purchased by the Company on the open market or otherwise.

The number of shares issuable and the grant, purchase or exercise price of outstanding awards are subject to adjustment in the amount that the Company’s Compensation Committee considers appropriate upon the occurrence of certain events, including stock dividends, stock splits, mergers, consolidations, reorganizations, recapitalizations, or other capital adjustments. In the event that the Company issues restricted stock awards pursuant to the

2010

Plan, each share of restricted stock would reduce the amount of available shares for issuance by either

3.2

shares for each share of restricted stock granted or

share for each share of restricted stock granted. As of

March 26, 2017,

there were up to

223,698

shares available to be issued for future option grants or up to

190,218

shares of restricted stock that

may

be granted

under the

2010

Plan.

In general, options granted under the Company’s stock incentive plans have terms of

five

ten

years and vest over periods of between

three

and

five

years. The Company has historically issued new shares of common stock for options that have been exercised and used the Black-Scholes option valuation model to determine the fair value of options granted at the grant date.

During the fiscal year ended

March 29, 2015,

the Company granted options to purchase

50,000

shares at an exercise price of

$53.89

per share, all of which expire

five

years from the date of grant. All such stock options vest ratably over a

four

-year period commencing

August 6, 2015.

The weighted-average option fair values, as determined using the Black-Scholes option valuation model, and the assumptions used to estimate these values for stock options granted during the year ended

March 29, 2015

were as follows:

Weighted-average option fair values	$	11.970

Expected life (years)		4.5

Interest rate		1.66	%

Volatility		22.77	%

Dividend Yield		0	%

The expected dividend yield is based on historical and projected yields for regular dividends. The Company estimates expected volatility based primarily on historical monthly price changes of the Company’s stock equal to the expected life of the option. The risk free interest rate is based on the U.S. Treasury yield in effect at the time of the grant. The expected option term is the number of years the Company estimates the options will be outstanding prior to exercise based on expected employment termination behavior.

During the fiscal year ended

March 30, 2014,

the Company granted

25,000

shares of restricted stock at a fair value of

$49.80

per share representing the closing price on the date of grant, which will be fully vested

five

years from the date of grant. The restrictions on the shares lapse ratably over a

five

-year period on the annual anniversary of the date of grant. The compensation expense related to this restricted stock award is expected to be

$1,245

and will be recognized, commencing on the grant date, over the next

five

years.

The Company recognizes compensation cost for unvested stock-based incentive awards on a straight-line basis over the requisite service period. Compensation cost charged to expense under all stock-based incentive awards is as follows:

	March 26, 2017		March 27, 2016		March 29, 2015

Stock options	$	150	$	181	$	318
Restricted stock		432		541		541
	$	582	$	722	$	859

The tax benefit on stock-based compensation expense was

$213,

$298

and

$350

for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. As of

March 26, 2017,

there was

$549

of unamortized compensation expense related to stock-based incentive awards. The Company expects to recognize this expense over approximately

one

year and

four

months, which represents the weighted average remaining requisite service periods for such awards.

A summary of the status of the Company’s stock options at

March 26, 2017,

March 27, 2016

and

March 29, 2015

and changes during the fiscal years then ended is presented in the tables below:

	2017					2016					2015
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
				Exercise					Exercise					Exercise
	Shares			Price		Shares			Price		Shares			Price
Options outstanding – beginning of year		124,030		$	26.29		142,964		$	24.36		279,500		$	15.22

Granted		-			-		-			-		50,000		$	53.89

Expired		-			-		(3,787	)		11.72		-			-

Exercised		(48,285	)		11.72		(15,147	)		11.72		(235,125	)		14.74

Options outstanding - end of year		75,745		$	35.58		124,030		$	26.29		94,375		$	36.90

Options exercisable - end of year		37,873		$	35.58		67,221		$	18.44		-		$	-

Weighted-average fair value of options granted		-			-		-			-		50,000		$	11.97

During the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

options to purchase

48,285,

15,147

and

235,125

shares were exercised which aggregated proceeds of

$44,

$89

and

$880,

respectively, to the Company. The aggregate intrinsic values of the stock options exercised during the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

was

$1,555,

$486

and

$13,040,

respectively.

The following table summarizes information about outstanding stock options at

March 26, 2017:

			Weighted-		Weighted-
			Average		Average		Aggregate
			Exercise		Remaining		Intrinsic
	Shares		Price		Contractual Life		Value

Options outstanding at March 26, 2017		75,745	$	35.58		2.36	$	1,899

Options exercisable at March 26, 2017		37,873	$	35.58		2.36	$	950

Exercise price is $ 35 . 576

eplacement

stock

options:

March 30, 2015,

was the ex-dividend date for the Nathan’s dividend distribution that was paid on

March 27, 2015.

Pursuant to the mandatory anti-dilution provisions of the option plan, the Company issued replacement options for the unvested stock options that were outstanding as of

March 29, 2015.

Nathan’s performed its evaluation based on the closing price of its common stock on Friday,

March 27, 2015

$73.56

per share, or

$48.56

per share excluding the dividend of

$25.00

per share.

other terms or conditions of the outstanding options were modified. The anti-dilution provisions of the original award granted to the

optionees were structured to equalize the award’s fair value before and after the modification and as a result there was

resulting incremental fair value after the modification to equalize value.

The following table summarizes information about the replacement stock options outstanding after the conversion, effective

March 30, 2015:

			Weighted-		Weighted-
			Average		Average		Aggregate
			Exercise		Remaining		Intrinsic
	Shares		Price		Contractual Life		Value

Options outstanding at March 30, 2015		142,964	$	24.36		2.87	$	3,460

Options exercisable at March 30, 2015		-	$	-		-	$	-

Exercise prices range from $11.72 to $35.576

Restricted stock:

Transactions with respect to restricted stock for the fiscal year ended

March 26, 2017

are as follows:

				Weighted-
				Average
				Grant-date Fair value

	Shares			Per share
Unvested restricted stock at March 27, 2016		25,000		$	41.59

Granted		-			-

Vested		(15,000	)	$	36.13

Unvested restricted stock at March 26, 2017		10,000		$	49.80

The aggregate fair value of restricted stock vested during the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

was

$736,

$683

and

$965,

respectively.

Common Stock Purchase Rights

June 5, 2013,

Nathan’s adopted a new stockholder rights plan (the

“2013

Rights Plan”) under which all stockholders of record as of

June 17, 2013

received rights to purchase shares of common stock (the

“2013

Rights”) and the previously existing “New Rights Plan” was terminated.

The

2013

Rights were distributed as a dividend. Initially, the

2013

Rights will attach to, and trade with, the Company’s common stock. Subject to the terms, conditions and limitations of the

2013

Rights Plan, the

2013

Rights will become exercisable if (among other things) a person or group acquires

15%

or more of the Company’s common stock (“triggering event”). Upon such triggering event and payment of the purchase price of

$100.00

(the

“2013

Right Purchase Price”), each

2013

Right (except those held by the acquiring person or group) will entitle the holder to acquire

one

share of the Company’s common stock (or the economic equivalent thereof) or, if the then-current market price is less than the then current

2013

Right Purchase Price, a number of shares of the Company’s common stock which at the time of the transaction has a market value equal to the then current

2013

Right Purchase Price at a purchase price per share equal to the then current market price of the Company’s Common Stock.

The Company’s Board of Directors

may

redeem the

2013

Rights prior to the time they are triggered. Upon adoption of the

2013

Rights Plan, the Company reserved

10,188,600

shares of common stock for issuance upon exercise of the

2013

Rights. The

2013

Rights will expire on

June 17, 2018

unless earlier redeemed or exchanged by the Company.

March 26, 2017,

the Company has reserved

7,396,439

shares of common stock for issuance upon exercise of the Common Stock Purchase Rights approved by the Board of Directors on

June 5, 2013.

Stock Repurchase Programs

September 11, 2015,

Nathan’s Board of Directors authorized the commencement of a modified Dutch Auction tender offer to repurchase up to

500,000

shares of its common stock at a price

not

less than

$33.00

nor greater than

$36.00

per share. On

November 13, 2015,

the Pricing Committee authorized the Company to extend the expiration date of the modified Dutch Auction tender offer until

5:00PM

EST on

December 2, 2015

and increase the price range of the modified Dutch Auction tender offer to a price per share of

not

less than

$41.00

nor greater than

$44.00.

Based on the final count by American Stock Transfer and Trust Company, the depositary of the tender,

88,672

shares of common stock were tendered and

not

withdrawn at or below the final purchase price of

$44.00

per share. The tender offer was

not

fully subscribed, and all shares validly tendered and

not

withdrawn were accepted for purchase. All of such shares purchased in the tender offer were purchased at the same price of

$44.00

per share, for a total cost of

$4,056,

including fees and expenses related to the modified Dutch Auction tender offer.

During the period from

October 2001

through

March 26, 2017,

Nathan’s purchased a total of

5,127,373

shares of common stock at a cost of approximately

$77,303

pursuant to the various stock repurchase plans previously authorized by the Board of Directors. During the fiscal year ended

March 26, 2017,

the Company repurchased

30,616

shares of common stock at a cost of

$1,272.

November 9, 2009,

Nathan’s Board of Directors authorized its

sixth

stock repurchase plan for the purchase of up to

500,000

shares of its common stock on behalf of the Company. On

February 1, 2011,

Nathan’s Board of Directors increased the authorization to purchase its common stock by an additional

300,000

shares. On

February 1, 2016,

Nathan’s Board of Directors increased the authorization to purchase its common stock by an additional

200,000

shares. On

March 11, 2016,

Nathan’s Board of Directors increased the authorization to purchase its common stock by an additional

200,000

shares increasing the aggregate authorization under the Sixth Securities Repurchase Program to

1.2

million shares. The Company has repurchased

939,742

shares at a cost of

$29,641

under the

sixth

stock repurchase plan through

March 26, 2017.

March 11, 2016,

the Company and Mutual Securities, Inc. (“MSI”) entered into an agreement (the “Agreement”) pursuant to which MSI has been authorized on the Company’s behalf to purchase up to

175,000

shares of the Company’s common stock,

$.01

par value, commencing on

March 21, 2016.

The Agreement was adopted under the safe harbor provided by Rule

10b5

and Rule

10b

of the Securities Exchange Act of

1934,

as amended, in order to assist the Company in implementing its stock purchase plans and terminated in

August 2016.

September 9, 2016,

the Company and MSI entered into an agreement pursuant to which MSI was authorized on the Company’s behalf to purchase up to

100,000

shares of the Company’s common stock, commencing

September 19, 2016.

This Agreement was adopted under the safe harbor provided by Rule

10b5

and Rule

10b

of the Securities Exchange Act of

1934,

as amended, to assist the Company in implementing its stock purchase plans.

As of

March 26, 2017,

an aggregate of

260,258

shares can still be purchased under Nathan’s existing stock buy-back program.

Purchases

may

be made from time to time, depending on market conditions, in open market or privately-negotiated transactions, at prices deemed appropriate by management. There is

set time limit on the repurchases to be made under the stock-repurchase plan.

Employment Agreements

Effective

January 1, 2007,

Howard M. Lorber, previously Chairman of the Board and Chief Executive Officer, assumed the newly-created position of Executive Chairman of the Board of Nathan’s and Eric Gatoff, previously Vice President and Corporate Counsel, became Chief Executive Officer of Nathan’s.

In connection with the foregoing, the Company entered into an employment agreement with each of Messrs. Lorber (as amended, the “Lorber Employment Agreement”) and Gatoff (as amended, the “Gatoff Employment Agreement”). Under the terms of the Lorber Employment Agreement, Mr. Lorber will serve as Executive Chairman of the Board from

January 1, 2007

until

December 31, 2012,

unless his employment is terminated in accordance with the terms of the Lorber Employment Agreement. On

November 1, 2012,

the Company amended its employment agreement with Mr. Lorber, extending the term of the employment agreement to

December 31, 2017

and increasing the base compensation of Mr. Lorber to

$600

per annum. In addition, Mr. Lorber received a grant of

50,000

shares of restricted stock subject to vesting as provided in a Restricted Stock Agreement between Mr. Lorber and the Company. Mr. Lorber will

not

receive a contractually-required bonus. The Lorber Employment Agreement provides for a

three

-year consulting period after the termination of employment during which Mr. Lorber will receive a consulting fee of

$200

per year in exchange for his agreement to provide

less than

days of consulting services per year, provided, Mr. Lorber is

not

required to provide more than

days of consulting services per year.

The Lorber Employment Agreement provides Mr. Lorber with the right to participate in employment benefits offered to other Nathan’s executives. During and after the contract term, Mr. Lorber is subject to certain confidentiality, non-solicitation and non-competition provisions in favor of the Company.

In the event that Mr. Lorber’s employment is terminated without cause, he is entitled to receive his salary and bonus for the remainder of the contract term. The Lorber Employment Agreement further provides that in the event there is a change in control, as defined in the agreement, Mr. Lorber has the option, exercisable within

one

year after such event, to terminate the agreement. Upon such termination, he has the right to receive a lump sum cash payment equal to the greater of (A) his salary and annual bonuses for the remainder of the employment term (including a prorated bonus for any partial fiscal year), which bonus shall be equal to the average of the annual bonuses awarded to him during the

three

fiscal years preceding the fiscal year of termination; or (B)

2.99

times his salary and annual bonus for the fiscal year immediately preceding the fiscal year of termination, in each case together with a lump sum cash payment equal to the difference between the exercise price of any exercisable options having an exercise price of less than the then current market price of the Company’s common stock and such then current market price. In addition, Nathan’s will provide Mr. Lorber with a tax gross-up payment to cover any excise tax due.

In the event of termination due to Mr. Lorber’s death or disability, he is entitled to receive an amount equal to his salary and annual bonuses for a

three

-year period, which bonus shall be equal to the average of the annual bonuses awarded to him during the

three

fiscal years preceding the fiscal year of termination.

Under the terms of the Gatoff Employment Agreement, Mr. Gatoff initially served as Chief Executive Officer from

January 1, 2007

until

December 31, 2008,

which period automatically extends for additional

one

-year periods unless either party delivers notice of non-renewal

less than

180

days prior to the end of the term then in effect. Consequently, the Gatoff Employment Agreement is expected to be extended through

December 31, 2018,

based on the original terms, and

non-renewal notice has been given.

Pursuant to the agreement, Mr. Gatoff will receive a base salary, currently

$500

effective

June 1, 2016,

and an annual bonus based on his performance measured against the Company’s financial, strategic and operating objectives as determined by the Compensation Committee pursuant to the terms of the

2017

Management Incentive Plan approved by shareholders on

September 14, 2016.

The Gatoff Employment Agreement provides for an automobile allowance and the right of Mr. Gatoff to participate in employment benefits offered to other Nathan’s executives. The employment agreement automatically extends for successive

one

-year periods unless notice of non-renewal is provided in accordance with the agreement. During and after the contract term, Mr. Gatoff is subject to certain confidentiality, non-solicitation and non-competition provisions in favor of the Company. On

June 4, 2013,

Mr. Gatoff received a grant of

25,000

shares of restricted stock at a fair value of

$49.80

per share representing the closing price on the date of grant, subject to vesting as provided in a Restricted Stock Agreement between Mr. Gatoff and the Company. The compensation expense related to this restricted stock award is expected to be

$1,245

and will be recognized, commencing of the grant date, over the next

five

years.

June 10, 2015,

the Company and Wayne Norbitz entered into a Transition Agreement (the “Transition Agreement”) relating to the retirement of Mr. Norbitz as President and Chief Operating Officer of the Company. Under the Transition Agreement, Mr. Norbitz continued to serve as President and Chief Operating Officer of the Company through

August 7, 2015

at which time he became a Consultant to the Company pursuant to the terms of a

one

year Consulting Agreement between him and the Company (the “Consulting Agreement”). The Consulting Agreement provides that Mr. Norbitz would receive a consulting fee of

$16.3

per month. The Transition Agreement further provided that Mr. Norbitz would receive a severance payment of

$289

and under the terms of the Transition Agreement, the Company purchased from Mr. Norbitz

56,933

shares of the Company’s common stock,

$.01

par value (the “Common Stock”) at a purchase price of

$40.28

which was the closing price of the Common Stock as reported on the Nasdaq Global Market on

June 10, 2015.

Effective

August 4, 2016,

the Company and Wayne Norbitz executed an Amendment to the Consulting Agreement (the “Amendment”), whereas the Term of the Agreement was originally extended to expire

August 10, 2017

which has been further extended to expire on

December 31, 2017.

Pursuant to the terms of the Amendment, Mr. Norbitz shall provide consulting services

one

(

) day a week, as directed by the Board of Directors of the Company and/or Eric Gatoff, Chief Executive Officer of the Company. The Amendment provides that Mr. Norbitz will receive a consulting fee of

$8.1

per month for services rendered.

The Company and

one

employee of Nathan’s entered into a change of control agreement effective

May 31, 2007

for annual compensation of

$136

per year. The agreement additionally includes a provision under which the employee has the right to terminate the agreement and receive payment equal to approximately

three

times his annual compensation upon a change in control, as defined.

Each employment agreement terminates upon death or voluntary termination by the respective employee or

may

be terminated by the Company on up to

-days’ prior written notice by the Company in the event of disability or “cause,” as defined in each agreement.

Defined Contribution and Union Pension Plans

The Company has a defined contribution retirement plan under Section

401

(k) of the Internal Revenue Code covering all nonunion employees over age

21,

who have been employed by the Company for at least

one

year. Employees

may

contribute to the plan, on a tax-deferred basis, up to

20%

of their total annual salary. Historically, the Company has matched contributions at a rate of

$.25

per dollar contributed by the employee on up to a maximum of

of the employee’s total annual salary. Employer contributions for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were

$41

$35

and

$30,

respectively.

The Company participates in a noncontributory, multi-employer, defined benefit pension plan (the “Union Plan”) covering substantially all of the Company’s union-represented employees. The risks of participating in the Union Plan are different from a single-employer plan in the following aspects (a) assets contributed to the Union Plan by

one

employer

may

be used to provide benefits to employees of other participating employers; (b) if a participating employer stops contributing to the plan, the unfunded obligations of the plan

may

be borne by the remaining participating employers; and (c) if the Company chooses to stop participating in the Union Plan, the Company

may

be required to pay the Union Plan an amount based on the underfunded status of the Union Plan, referred to as a withdrawal liability. The Company has

plans or intentions to stop participating in the plan as of

March 26, 2017

and does

not

believe that there is a reasonable possibility that a withdrawal liability will be incurred. Contributions to the Union Plan were

$10

and

$10

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

Other Benefits

The Company provides, on a contributory basis, medical benefits to active employees. The Company does

not

provide medical benefits to retirees.

Note N - Commitments and Contingencies

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE N - COMMITMENTS AND CONTINGENCIES

Commitments

The Company’s operations are principally conducted in leased premises. The leases generally have initial terms ranging from

years and usually provide for renewal options ranging from

years. Most of the leases contain escalation clauses and common area maintenance charges (including taxes and insurance).

Revenue from sub-leasing properties is recognized in income as the revenue is earned and deemed collectible. Sub-lease rental income is presented net of associated lease costs in the accompanying consolidated statements of earnings.

As of

March 26, 2017,

the Company had non-cancelable operating lease commitments, net of certain sublease rental income, as follows:

	Lease		Sublease		Net lease
	commitments		income		commitments

2018	$	1,645	$	327	$	1,318
2019		1,654		330		1,324
2020		1,545		332		1,213
2021		1,063		309		754
2022		1,065		263		802
Thereafter		5,841		865		4,976

	$	12,813	$	2,426	$	10,387

Aggregate rental expense, net of sublease income, under all current leases amounted to

$1,566

$1,628

and

$1,617

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. Sublease rental income was

$272,

$270

and

$267

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

Contingent rental payments on building leases are typically made based on the percentage of gross sales of the individual restaurants that exceed predetermined levels. The percentage of gross sales to be paid and related gross sales level vary by unit. Contingent rental expense, which is inclusive of common area maintenance charges, was approximately

$457,

$517

and

$489

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

March 26, 2017,

the Company leases

one

site which it in turn subleases to a franchisee, which expires in

April 2027

exclusive of renewal options. The Company remains liable for all lease costs when property is subleased to a franchisee.

Legal Proceedings

The Company and its subsidiaries are from time to time involved in ordinary and routine litigation. Management presently believes that the ultimate outcome of these proceedings, individually or in the aggregate, will

not

have a material adverse effect on the Company’s financial position, cash flows or results of operations. Nevertheless, litigation is subject to inherent uncertainties and unfavorable rulings could occur. An unfavorable ruling could include money damages and, in such event, could result in a material adverse impact on the Company’s results of operations for the period in which the ruling occurs.

Guaranty

December 1, 2009,

a wholly-owned subsidiary of the Company executed a Guaranty of Lease (the “Guaranty”) in connection with its re-franchising of a restaurant located in West Nyack, New York. The Guaranty extended through the

fifth

Lease Year, as defined in the lease, and shall

not

exceed an amount equal to the highest amount of the annual minimum rent, percentage rent and any additional rent payable pursuant to the lease and reasonable attorney’s fees and other costs. The Guaranty expired and the Company reversed all previously recorded liabilities in connection with this guaranty as of

March 29, 2015.

In connection with the Nathan’s Franchise Agreement, Nathan’s also received a personal guaranty from the franchisee for all obligations under the Guaranty. Nathan’s has

not

been required to make any payments pursuant to the Guaranty.

February 27, 2017,

a wholly-owned subsidiary of the Company executed a Guaranty of Lease (the “Brooklyn Guaranty”) in connection with its re-franchising of a restaurant located in Brooklyn, New York. The Brooklyn Guaranty could be called upon in the event of a default by the tenant/franchisee. The Brooklyn Guaranty is limited to

months of rent for the

first

three

years of the term. Nathan’s has recorded a liability of

$204

in connection with the Brooklyn Guaranty which does

not

include potential percentage rent, real estate tax increases, attorney’s fees and other costs as these amounts are

not

reasonably determinable at this time. Nathan’s has received a personal guaranty from the franchisee for all obligations under the Brooklyn Guaranty. For the remainder of the term, Brooklyn Guaranty is limited to

months of rent plus reasonable costs of collection and attorney’s fees.

Note P - Quarterly Financial Information (Unaudited)

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Quarterly Financial Information [Text Block]

NOTE P - QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Fiscal Year 201 7

Total revenues	$	29,416	$	28,013	$	19,937	$	19,286
Gross profit (a)		5,804		6,402		4,074		2,906
Income from operations		8,824		8,031		4,754		4,671
Net income		3,550		2,507		699		729

Per share information
Net income per share
Basic (b)	$	.85	$	.60	$	.17	$	.17
Diluted (b)	$	.85	$	.60	$	.17	$	.17

Shares used in computation of net income per share
Basic (b)		4,166,000		4,172,000		4,175,000		4,176,000
Diluted (b)		4,191,000		4,207,000		4,209,000		4,217,000

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Fiscal Year 2016

Total revenues	$	30,654	$	30,619	$	20,564	$	19,053
Gross profit (a)		4,785		6,313		3,681		3,254
Income from operations		7,616		8,426		4,435		4,486
Net income		2,310		2,847		432		507

Per share information
Net income per share
Basic (b)	$	.50	$	.64	$	.10	$	.12
Diluted (b)	$	.50	$	.64	$	.10	$	.12

Shares used in computation of net income per share
Basic (b)		4,584,000		4,432,000		4,408,000		4,297,000
Diluted (b)		4,621,000		4,449,000		4,444,000		4,337,000

	(a)	Gross profit represents the difference between sales and cost of sales.
	(b)	The sum of the quarters may not equal the full year per share amounts included in the accompanying consolidated statements of earnings due to the effect of the weighted average number of shares outstanding during the fiscal years as compared to the quarters.

Note Q - Subsequent Events	12 Months Ended
Note Q - Subsequent Events	Mar. 26, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE Q - SUBSEQUENT EVENTS On May 19, 2017, our hot dog manufacturer, John Morrell and Co. announced a voluntary recall of approximately 200,000 pounds of hot dogs, including Nathan’s hot dogs, after a small number of consumers reported seeing visible metal flakes between the hot dogs and the packaging film. The amount represents a miniscule percentage of the billions of pounds of products annually produced by John Morrell and Co. John Morrell and Co. has communicated with their customers and consumers asking anyone that purchased the affected product to discard it and contact John Morrell and Co. for a refund. John Morrell and Co. notified the United States Department of Agriculture which has designated the recall as a Class II Recall.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Mar. 26, 2017

Notes to Financial Statements

Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

March 26, 2017,

March 27, 2016

and

March 29, 2015

(in thousands)

COL. A	COL. B		COL. C				COL. D			COL. E
Description	Balance at beginning of period		Additions charged to costs and expenses		Additions charged to other accounts		Deductions			Balance at end of period

Fifty-two weeks ended March 26, 2017

Allowance for doubtful accounts - accounts receivable	$	471	$	53	$	-	$	(67	) (b)	$	457

Fifty-two weeks ended March 27, 2016

Allowance for doubtful accounts - accounts receivable	$	443	$	38	$	-	$	(10	) (b)	$	471

Fifty-two weeks ended March 29, 2015

Allowance for doubtful accounts - accounts receivable	$	433	$	23	$	-	$	(13	) (b)	$	443

(a)

Uncollectible marketing fund contributions.

(b)

Uncollectible amounts written off.

Significant Accounting Policies (Policies)

12 Months Ended

Mar. 26, 2017

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation

Fiscal Period, Policy [Policy Text Block]

Fiscal Year

The Company’s fiscal year ends on the last Sunday in

March,

which results in a

-week reporting period. The results of operations and cash flows for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

are on the basis of a

-week reporting period.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Inventory, Policy [Policy Text Block]

Inventories

Inventories, which are stated at the lower of cost or market value, consist primarily of food items and supplies. Cost is determined using the first-in, first-out method.

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Building and improvements (in years)	5	–	25
Machinery, equipment, furniture and fixtures (in years)	3	–	15
Leasehold improvements (in years)	5	–	20

Goodwill and Intangible Assets, Policy [Policy Text Block]

Goodwill and Intangible Assets

Goodwill and intangible assets consist of (i) goodwill of

$95

resulting from the acquisition of Nathan’s in

1987;

and (ii) trademarks, trade names and other intellectual property of

$1,353

in connection with Arthur Treacher’s.

The Company’s goodwill and intangible assets are deemed to have indefinite lives and, accordingly, are

not

amortized, but are evaluated for impairment at least annually, but more often whenever changes in facts and circumstances occur which

may

indicate that the carrying value

may

not

be recoverable. As of

March 26, 2017

and

March 27, 2016,

the Company performed its required annual impairment test of goodwill and intangible assets and has determined

impairment is deemed to exist.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Long-lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value

may

not

long-lived assets were deemed impaired during the fiscal years

March 26, 2017,

March 27, 2016

and

March 29, 2015.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

The fair value hierarchy consists of the following

three

levels:

	●	Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for an identical asset or liability in an active market

	●	Level 2 - inputs to the valuation methodology include quoted prices for a similar asset or liability in an active market or model-derived valuations in which all significant inputs are observable for substantially the full term of the asset or liability

	●	Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement of the asset or liability

The use of observable market inputs (quoted market prices) when measuring fair value and, specifically, the use of Level

may

be classified differently from year to year.

March 26, 2017

and

March 27, 2016,

we did

not

have any assets or liabilities that were recorded at fair value.

The Company's long-term debt had a face value of

$135,000

as of

March 26, 2017

and a fair value of

$145,125

as of

March 26, 2017.

The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of the instruments.

The majority of the Company’s non-financial assets and liabilities are

not

inputs) which utilized cash flow forecasts for future income and were discounted to present value in performing its annual impairment testing of intangible assets.

Start-up Activities, Cost Policy [Policy Text Block]

Start-up Costs

Pre-opening and similar restaurant costs are expensed as incurred.

Revenue Recognition, Policy [Policy Text Block]

10.

Revenue Recognition - Branded Product Program

The Company recognizes sales from the Branded Product Program and certain products sold from the Branded Menu Program upon delivery to Nathan’s customers via

third

party common carrier. Rebates provided to customers are classified as a reduction to sales.

11.

Revenue Recognition - Company-owned Restaurants

Sales by Company-owned restaurants, which are typically paid in cash or credit card by the customer, are recognized at the point of sale. Sales are presented net of sales tax.

12.

Revenue Recognition - Franchising Operations

The following services are typically provided by the Company prior to the opening of a franchised restaurant:

	o	Approval of all site selections to be developed.
	o	Provision of architectural plans suitable for restaurants to be developed.
	o	Assistance in establishing building design specifications, reviewing construction compliance and equipping the restaurant.
	o	Provision of appropriate menus to coordinate with the restaurant design and location to be developed.
	o	Provision of management training for the new franchisee and selected staff.
	o	Assistance with the initial operations of restaurants being developed.

International development fees are recognized, net of direct expenses, upon the opening of the

first

restaurant within the territory. In each case, this is when the Company has performed substantially all initial services required by the agreements.

March 26, 2017

and

March 27, 2016,

$98

and

$137,

respectively, of deferred franchise fees are included in the accompanying consolidated balance sheets. For the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

the Company earned franchise fees of

$778,

$751

and

$1,043,

respectively, from new unit openings, transfers, co-branding and forfeitures.

may

If substantial obligations under the development agreement are

not

first

March 26, 2017

and

March 27, 2016,

$67

and

$129,

respectively, of deferred development fee revenue is included in other liabilities in the accompanying consolidated balance sheets.

The following is a summary of franchise openings and closings for the Nathan’s franchise restaurant system for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015:

	March 26			March 27,			March 29,
	2017			2016			2015

Franchised restaurants operating at the beginning of the period		259			296			324

New franchised restaurants opened during the period		53			56			36

Franchised restaurants closed during the period		(33	)		(93	)		(64	)

Franchised restaurants operating at the end of the period		279			259			296

Franchise fees and royalties that are

not

deemed to be collectible are

not

recognized as revenue until paid by the franchisee or until collectibility is deemed to be reasonably assured.

13.

Revenue Recognition – License Royalties

Concentration Risk, Credit Risk, Policy [Policy Text Block]

14.

Business Concentrations and Geographical Information

March 26, 2017,

four

Branded Product customers represented

21%,

15%,

12%

and

8%,

of accounts receivable. At

March 27, 2016,

four

Branded Product customers represented

19%,

14%,

and

8%,

of accounts receivable. One Branded Products customer accounted for

12%,

14%

and

17%

of total revenue for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. One retail licensee accounted for

20%,

19%

and

17%

of the total revenue for the years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

The Company’s primary supplier of hot dogs represented

78%,

81%

and

83%

of product purchases for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively. The Company’s distributor of products to its Company-owned restaurants represented

of product purchases for each of the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively.

The Company’s revenues for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were derived from the following geographic areas:

	March 26, 2017		March 27, 2016		March 29, 2015

Domestic (United States)	$	90,466	$	95,655	$	95,682
Non-domestic		6,186		5,235		3,430
	$	96,652	$	100,890	$	99,112

The Company’s sales for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015

were derived from the following:

	March 26, 2017		March 27, 2016		March 29, 2015

Branded Products	$	55,960	$	58,545	$	58,948
Company-owned restaurants		15,042		16,664		15,874
Other		214		822		698
	$	71,216	$	76,031	$	75,520

Advertising Costs, Policy [Policy Text Block]

15.

Advertising

2%.

Company-owned store advertising expense, which is expensed as incurred, was

$182,

$191

and

$175,

for the fiscal years ended

March 26, 2017,

March 27, 2016

and

March 29, 2015,

respectively, and have been included within restaurant operating expenses in the accompanying consolidated statements of earnings.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

16.

Stock-Based Compensation

March 26, 2017,

the Company had

one

stock-based compensation plan in effect which is more fully described in Note M.

Cost of Sales, Policy [Policy Text Block]

17.

Classification of Operating Expenses

Cost of sales consists of the following:

	o	The cost of food and other products sold by Company-operated restaurants, through the Branded Product Program and through other distribution channels.
	o	The cost of labor and associated costs of in-store restaurant management and crew.
	o	The cost of paper products used in Company-operated restaurants.
	o	Other direct costs such as fulfillment, commissions, freight and samples.

Restaurant operating expenses consist of the following:

	o	Occupancy costs of Company-operated restaurants.
	o	Utility costs of Company-operated restaurants.
	o	Repair and maintenance expenses of Company-operated restaurant facilities.
	o	Marketing and advertising expenses done locally and contributions to advertising funds for Company-operated restaurants.
	o	Insurance costs directly related to Company-operated restaurants.

Income Tax, Policy [Policy Text Block]

18.

Income Taxes

B.19.

not

that some portion of the deferred tax assets will

not

be realized, a valuation allowance against the deferred tax assets would be established in the period such determination was made.

Uncertain Tax Positions

may

recognize the tax benefit from an uncertain tax position only if it is more likely than

not

fifty

percent likelihood of being realized upon ultimate settlement. Nathan’s recognizes accrued interest and penalties associated with unrecognized tax benefits as part of the income tax provision.

New Accounting Pronouncements, Policy [Policy Text Block]

. Adoption of New Accounting Pronouncements

March 2016,

not

exceed the maximum statutory tax rate for an employee in the applicable jurisdictions. This new standard is effective for public companies with fiscal years beginning after

December 15, 2016

which will be Nathan’s

first

quarter ending (

June 2017)

of our fiscal year ending on

March 25, 2018.

However, early adoption is permitted.

The Company elected to early adopt this standard in the quarter ended

June 26, 2016.

The impact of the early adoption resulted in the Company recording tax benefits of

$659

within income tax expense for the year ended

March 26, 2017,

not

The excess tax benefits for the years ended

March 27, 2016

and

March 29, 2015

were

$228

and

$4,572,

respectively which increased additional paid-in-capital.

The Company accounts for forfeitures as they occur. Under the new guidance, excess tax benefits related to employee share-based payments of

$659

are classified as operating activities in the statement of cash flows for the

fifty-two

weeks ended

March 26, 2017.

The Company applied the effect of the guidance to the presentation of excess tax benefits in the statement of cash flows prospectively and

prior periods have been adjusted. The Company did

not

thirteen

and

fifty-two

weeks ended

March 26, 2017.

August 2014,

one

December 15, 2016

and interim periods within annual periods beginning after

December 16, 2016.

This guidance was effective for the Company beginning in the

fourth

quarter of fiscal

2017

and did

not

have a material impact on the Company’s results of operations or financial position.

New Accounting Pronouncements

Not

Yet

Adopt

May 2014,

the FASB issued a new accounting standard that attempts to establish a uniform basis for recording income to virtually all industries financial statements, under U.S. GAAP as further amended during

2016.

In order to accomplish this objective, companies must evaluate the following

five

There are

two

December 15, 2016,

including interim periods therein, which for Nathan’s would have been its

first

quarter of fiscal

2018,

beginning on

March 27, 2017.

July 9, 2015,

the FASB agreed to delay the standard’s effective date to annual reporting periods beginning after

December 15, 2017

which will now be our

first

quarter (

June 2018)

of our fiscal year ending

March 31, 2019.

The Company does

not

may

not

2018.

July 2015,

the FASB updated U.S. accounting guidance to simplify the ways businesses measure inventory. Companies that use the

first

-in,

first

longer consider replacement cost or net realizable value less a normal profit margin when measuring inventory. This new standard is effective for annual reporting periods beginning after

December 15, 2016

which will be our

first

quarter (

June 2017)

of our fiscal year ending

March 25, 2018.

Nathan’s does

not

expect the adoption of this new guidance to have a material impact on its results of operations or financial position.

February 2016,

December 15, 2018,

including interim reporting periods within those annual reporting periods. This standard is required to take effect in Nathan’s

first

quarter ending (

June 2019)

of our fiscal year ending

March 29, 2020.

January 2017,

	●	A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of dividends, lower costs, or other economic benefits directly to investors or other owners, members, or participants.
	●	To be capable of being conducted and managed for the purposes described above, an integrated set of activities and assets requires two essential elements–inputs and a substantive process(es) applied to those inputs.

The amendments are effective prospectively for public business entities for annual reporting periods beginning after

December 15, 2017.

This standard is required to take effect in Nathan’s

first

quarter ending (

June 2018)

of our fiscal year ending

March 31, 2019.

The Company does

not

expect this new accounting standard will have a material effect on the Company’s results of operations, cash flows or financial position. Early adoption is permitted when certain criteria are met.

The Company does

not

believe that any other recently issued, but

not

yet effective accounting standards, when adopted, will have a material effect on the accompanying financial statements.

Note B - Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Property, Plant and Equipment [Table Text Block]

Building and improvements (in years)	5	–	25
Machinery, equipment, furniture and fixtures (in years)	3	–	15
Leasehold improvements (in years)	5	–	20

Schedule of Franchisor Disclosure [Table Text Block]

	March 26			March 27,			March 29,
	2017			2016			2015

Franchised restaurants operating at the beginning of the period		259			296			324

New franchised restaurants opened during the period		53			56			36

Franchised restaurants closed during the period		(33	)		(93	)		(64	)

Franchised restaurants operating at the end of the period		279			259			296

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]

	March 26, 2017		March 27, 2016		March 29, 2015

Domestic (United States)	$	90,466	$	95,655	$	95,682
Non-domestic		6,186		5,235		3,430
	$	96,652	$	100,890	$	99,112

Revenue from External Customers by Products and Services [Table Text Block]

	March 26, 2017		March 27, 2016		March 29, 2015

Branded Products	$	55,960	$	58,545	$	58,948
Company-owned restaurants		15,042		16,664		15,874
Other		214		822		698
	$	71,216	$	76,031	$	75,520

Note E - Accounts and Other Receivables, Net (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	March 26 ,		March 27,
	201 7		2016

Branded product sales	$	6,037	$	5,689
Franchise and license royalties		2,746		2,592
Other		622		911
		9,405		9,192

Less: allowance for doubtful accounts		457		471

Accounts and other receivables, net	$	8,948	$	8,721

Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]

	March 26, 2017			March 27, 2016			March 29, 2015

Beginning balance	$	471		$	443		$	433
Bad debt expense		53			38			23
Accounts written off		(67	)		(10	)		(13	)

Ending balance	$	457		$	471		$	443

Note I - Accrued Expenses, Other Current Liabilities and Other Liabilities (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	March 26,		March 27,
	2017		2016
Payroll and other benefits	$	2,708	$	2,919
Accrued rebates		1,050		940
Rent and occupancy costs		215		218
Deferred revenue		723		679
Construction costs		160		183
Interest		463		507
Professional fees		109		101
Income taxes		143		82
Dividend payable		125		375
Other		169		172
Total accrued expenses and other current liabilities	$	5,865	$	6,176

Schedule of Other Assets and Other Liabilities [Table Text Block]

	March 26,		March 27,
	2017		2016
Deferred development fees	$	67	$	129
Reserve for uncertain tax positions (Note J)		366		427
Deferred rental liability		786		893
Dividend payable		125		250
Other		211		7
Total other liabilities	$	1,555	$	1,706

Note J - Income Taxes (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	March 26, 2017		March 27, 2016			March 29, 2015
Federal
Current	$	3,024	$	3,176		$	5,992
Deferred		79		(11	)		60
Total Federal income tax		3,103		3,165			6,052
State and local
Current		1,195		1,135			1,599
Deferred		21		(12	)		51
Total State and local income tax		1,216		1,123			1,650
Total provision for income taxes	$	4,319	$	4,288		$	7,702

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	March 26 , 201 7			March 27, 2016			March 29, 2015

Computed “expected” tax expense	$	4,013		$	3,531		$	6,792
State and local income taxes, net of Federal income tax benefit		797			826			1,112
Tax-exempt investment earnings		-			(9	)		(63	)
Change in uncertain tax positions, net		(11	)		(129	)		(62	)
Nondeductible meals and entertainment and other		61			69			(77	)
Nondeductible compensation		118			-			-
Tax benefit share based payments		(659	)		-			-
Total provision for income taxes	$	4,319		$	4,288		$	7,702

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	March 26 ,			March 27,
	201 7			2016
Deferred tax assets
Accrued expenses	$	361		$	236
Allowance for doubtful accounts		59			62
Deferred revenue		347			393
Deferred stock compensation		224			271
Excess of straight line over actual rent		338			379
Investment		187			151
Other		104			119
Total gross deferred tax assets	$	1,620		$	1,611

Deferred tax liabilities
Deductible prepaid expense		288			263
Depreciation expense		1,771			1,717
Amortization		374			344
Total gross deferred tax liabilities		2,433			2,324
Net deferred tax (liability)	$	(813	)	$	(713	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	March 26, 2017			March 27, 2016			March 29, 2015

Unrecognized tax benefits, beginning of year	$	208		$	266		$	283
Decreases of tax positions taken in prior years		(31	)		(98	)		(64	)
Increases based on tax positions taken in current year		41			43			47
Settlements of tax positions taken in prior years		(51	)		(3	)		-
Unrecognized tax benefits, end of year	$	167		$	208		$	266

Summary of Income Tax Examinations [Table Text Block]

Jurisdiction	Fiscal Year
Federal	2014
New York State	2014
New York City	2014
New Jersey	2013
Pennsylvania	2014

Note K - Segment Information (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Fifty- Two			Fifty-Two			Fifty-Two
	weeks ended			weeks ended			weeks ended
	March 26, 2017			March 27, 2016			March 29, 2015
Revenues
Branded Product Program	$	56,174		$	59,367		$	59,646
Product licensing		20,368			19,815			18,011
Restaurant operations		20,110			21,708			21,455
Corporate		-			-			-
Total revenues	$	96,652		$	100,890		$	99,112

Income from operations
Branded Product Program	$	10,257		$	8,394		$	4,497
Product licensing		20,186			19,812			18,000
Restaurant operations		4,101			5,253			5,604
Corporate		(8,264	)		(8,496	)		(8,143	)
Income from operations	$	26,280		$	24,963		$	19,958
Interest expense		(14,665	)		(14,630	)		(816	)
Interest income		104			52			176
Impairment charge – long-term investment (Note G)		-			(100	)		-
Other income, net		85			99			87
Income before provision for income taxes	$	11,804		$	10,384		$	19,405

Total assets
Branded Product Program	$	7,113	$	6,827	$	7,802
Product licensing		2,003		1,832		1,822
Restaurant operations		8,740		9,054		9,284
Corporate		60,269		53,836		65,481
Total assets	$	78,125	$	71,549	$	84,389

Depreciation & amortization expense
Branded Product Program	$	316	$	370	$	389
Product licensing		-		-		-
Restaurant operations		762		710		644
Corporate		219		175		220
Total depreciation & amortization expense	$	1,297	$	1,255	$	1,253

Note L - Long-term Debt (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Debt [Table Text Block]

	March 2 6 ,			March 27,
	201 7			2016

10.000% Senior Secured Notes due 2020	$	135,000		$	135,000
Less: unamortized debt issuance costs		(3,525	)		(4,734	)
Long-term debt, net	$	131,475		$	130,266

Debt Instrument Redemption [Table Text Block]

YEAR	PERCENTAGE
On or after September 15, 2017 and prior to March 15, 2018		105.000%
On or after March 15, 2018 and prior to March 15, 2019		102.500%
On and after March 15, 2019		100.000%

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Weighted-average option fair values	$	11.970

Expected life (years)		4.5

Interest rate		1.66	%

Volatility		22.77	%

Dividend Yield		0	%

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

	March 26, 2017		March 27, 2016		March 29, 2015

Stock options	$	150	$	181	$	318
Restricted stock		432		541		541
	$	582	$	722	$	859

Share-based Compensation, Stock Options, Activity [Table Text Block]

	2017					2016					2015
				Weighted-					Weighted-					Weighted-
				Average					Average					Average
				Exercise					Exercise					Exercise
	Shares			Price		Shares			Price		Shares			Price
Options outstanding – beginning of year		124,030		$	26.29		142,964		$	24.36		279,500		$	15.22

Granted		-			-		-			-		50,000		$	53.89

Expired		-			-		(3,787	)		11.72		-			-

Exercised		(48,285	)		11.72		(15,147	)		11.72		(235,125	)		14.74

Options outstanding - end of year		75,745		$	35.58		124,030		$	26.29		94,375		$	36.90

Options exercisable - end of year		37,873		$	35.58		67,221		$	18.44		-		$	-

Weighted-average fair value of options granted		-			-		-			-		50,000		$	11.97

Share-based Compensation, Activity [Table Text Block]

			Weighted-		Weighted-
			Average		Average		Aggregate
			Exercise		Remaining		Intrinsic
	Shares		Price		Contractual Life		Value

Options outstanding at March 26, 2017		75,745	$	35.58		2.36	$	1,899

Options exercisable at March 26, 2017		37,873	$	35.58		2.36	$	950

Exercise price is $ 35 . 576

			Weighted-		Weighted-
			Average		Average		Aggregate
			Exercise		Remaining		Intrinsic
	Shares		Price		Contractual Life		Value

Options outstanding at March 30, 2015		142,964	$	24.36		2.87	$	3,460

Options exercisable at March 30, 2015		-	$	-		-	$	-

Exercise prices range from $11.72 to $35.576

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

				Weighted-
				Average
				Grant-date Fair value

	Shares			Per share
Unvested restricted stock at March 27, 2016		25,000		$	41.59

Granted		-			-

Vested		(15,000	)	$	36.13

Unvested restricted stock at March 26, 2017		10,000		$	49.80

Note P - Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Mar. 26, 2017

Notes Tables

Quarterly Financial Information [Table Text Block]

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Fiscal Year 201 7

Total revenues	$	29,416	$	28,013	$	19,937	$	19,286
Gross profit (a)		5,804		6,402		4,074		2,906
Income from operations		8,824		8,031		4,754		4,671
Net income		3,550		2,507		699		729

Per share information
Net income per share
Basic (b)	$	.85	$	.60	$	.17	$	.17
Diluted (b)	$	.85	$	.60	$	.17	$	.17

Shares used in computation of net income per share
Basic (b)		4,166,000		4,172,000		4,175,000		4,176,000
Diluted (b)		4,191,000		4,207,000		4,209,000		4,217,000

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter

Fiscal Year 2016

Total revenues	$	30,654	$	30,619	$	20,564	$	19,053
Gross profit (a)		4,785		6,313		3,681		3,254
Income from operations		7,616		8,426		4,435		4,486
Net income		2,310		2,847		432		507

Per share information
Net income per share
Basic (b)	$	.50	$	.64	$	.10	$	.12
Diluted (b)	$	.50	$	.64	$	.10	$	.12

Shares used in computation of net income per share
Basic (b)		4,584,000		4,432,000		4,408,000		4,297,000
Diluted (b)		4,621,000		4,449,000		4,444,000		4,337,000

Note B - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation		$ 228	$ 4,572
Goodwill and Intangible Asset Impairment	$ 0	0
Impairment of Long-Lived Assets Held-for-use	0	0	0
Available-for-sale Securities	0	0
Goodwill	95	95
Intangible Assets, Net (Excluding Goodwill)	1,353	1,353
Long-term Debt	135,000
Long-term Debt, Fair Value	145,125
Franchise Revenue	$ 5,068	5,044	5,581
Maximum Contributions to Advertising Fund Percentage of Net Sales	2.00%
Advertising Expense	$ 182	191	175
Income Tax Expense (Benefit)	4,319	$ 4,288	$ 7,702
New Accounting Pronouncement, Early Adoption, Effect [Member] \| Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ 659
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Branded Product Customer A [Member]
Concentration Risk, Percentage	21.00%	19.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Branded Product Customer B [Member]
Concentration Risk, Percentage	15.00%	14.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Branded Product Customer C [Member]
Concentration Risk, Percentage	12.00%	9.00%
Accounts Receivable [Member] \| Customer Concentration Risk [Member] \| Branded Product Customer D [Member]
Concentration Risk, Percentage	8.00%	8.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| Branded Product Customer A [Member]
Concentration Risk, Percentage	12.00%	14.00%	17.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member] \| One Retail Licensee [Member]
Concentration Risk, Percentage	20.00%	19.00%	17.00%
Cost of Goods, Product Line [Member] \| Supplier Concentration Risk [Member] \| Primary Supplier of Hot Dogs [Member]
Concentration Risk, Percentage	78.00%	81.00%	83.00%
Cost of Goods, Product Line [Member] \| Supplier Concentration Risk [Member] \| Distributor of Product to Company-owned Restaurants [Member]
Concentration Risk, Percentage	5.00%	5.00%	5.00%
New Unit Openings, Transfers, Co-branding, and Forfeitures [Member]
Franchise Revenue	$ 778	$ 751	$ 1,043
Deferred Franchise Fees [Member]
Deferred Revenue, Current	98	137
Deferred Development Fee [Member]
Deferred Revenue	$ 67	$ 129

Note B - Summary of Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Mar. 26, 2017
Building and Building Improvements [Member] \| Minimum [Member]
Building and improvements (in years) (Year)	5 years
Building and Building Improvements [Member] \| Maximum [Member]
Building and improvements (in years) (Year)	25 years
Machinery, Equipment, Furniture, and Fixtures [Member] \| Minimum [Member]
Building and improvements (in years) (Year)	3 years
Machinery, Equipment, Furniture, and Fixtures [Member] \| Maximum [Member]
Building and improvements (in years) (Year)	15 years
Leasehold Improvements [Member] \| Minimum [Member]
Building and improvements (in years) (Year)	5 years
Leasehold Improvements [Member] \| Maximum [Member]
Building and improvements (in years) (Year)	20 years

Note C - Income Per Share - Earnings Per Share Reconciliation (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 26, 2017

^[1]

Dec. 25, 2016

^[1]

Sep. 25, 2016

^[1]

Jun. 26, 2016

^[1]

Mar. 27, 2016

^[1]

Dec. 27, 2015

^[1]

Sep. 27, 2015

^[1]

Jun. 28, 2015

^[1]

Mar. 26, 2017

Mar. 27, 2016

Mar. 29, 2015

Net income, basic calculation

$ 7,485

$ 6,096

$ 11,703

Number of shares, basic calculation (in shares)

4,176,000

4,175,000

4,172,000

4,166,000

4,297,000

4,408,000

4,432,000

4,584,000

4,172,000

4,430,000

4,486,000

Net income per share, basic calculation (in dollars per share)

$ 0.17

$ 0.60

$ 0.85

$ 0.12

$ 0.10

$ 0.64

$ 0.50

$ 1.79

$ 1.38

$ 2.61

Effect of dilutive employee stock options (in shares)

34,000

33,000

102,000

Net income per share, effect of dilutive employee stock options (in dollars per share)

$ (0.01)

$ (0.06)

Net income, diluted calculation

$ 7,485

$ 6,096

$ 11,703

Number of shares, diluted calculation (in shares)

4,217,000

4,209,000

4,207,000

4,191,000

4,337,000

4,444,000

4,449,000

4,621,000

4,206,000

4,463,000

4,588,000

Net income, diluted calculation (in dollars per share)

$ 0.17

$ 0.60

$ 0.85

$ 0.12

$ 0.10

$ 0.64

$ 0.50

$ 1.78

$ 1.37

$ 2.55

[1]	The sum of the quarters may not equal the full year per share amounts included in the accompanying consolidated statements of earnings due to the effect of the weighted average number of shares outstanding during the fiscal years as compared to the quarters.

Note D - Marketable Securities (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		$ 47
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax		25
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax			$ (102)
Available-for-sale Securities	$ 0	$ 0

Note D - Marketable Securities - Proceeds from Sale of Available-for-sale Securities and the Resulting Gross Realized Gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Proceeds		$ 10,868	$ 8,020
Gross realized gains		$ 26

Note E - Accounts and Other Receivables, Net - Summary of Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015	Mar. 30, 2014
Accounts receivable, gross, current	$ 9,405	$ 9,192
Less: allowance for doubtful accounts	457	471	$ 443	$ 433
Accounts and other receivables, net	8,948	8,721
Branded Product Sales [Member]
Accounts receivable, gross, current	6,037	5,689
Franchise and License Royalties [Member]
Accounts receivable, gross, current	2,746	2,592
Other Receivables [Member]
Accounts receivable, gross, current	$ 622	$ 911

Note E - Accounts and Other Receivables, Net - Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Beginning balance	$ 471	$ 443	$ 433
Bad debt expense	53	38	23
Accounts written off	(67)	(10)	(13)
Ending balance	$ 457	$ 471	$ 443

Note F - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Income taxes		$ 211
Insurance	319	488
Other	774	644
Total prepaid expenses and other current assets	$ 1,093	$ 1,343

Note G - Long-term Investment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015	Sep. 23, 2012
Investment Owned, Balance, Shares				351,550
Long-term Investments	$ 0	$ 0		$ 500
Cost Method Investment Ownership Percentage				2.50%
Cost-method Investments, Other than Temporary Impairment		$ 100

Note H - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Land	$ 1,197	$ 1,197
Building and improvements	2,119	2,029
Machinery, equipment, furniture and fixtures	5,749	5,698
Leasehold improvements	7,181	7,124
Construction-in-progress	120	155
Total property and equipment	16,366	16,203
Property and equipment, accumulated depreciation	7,522	7,190
Property and equipment, net	$ 8,844	$ 9,013

Note I - Accrued Expenses, Other Current Liabilities and Other Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Payroll and other benefits	$ 2,708	$ 2,919
Accrued rebates	1,050	940
Rent and occupancy costs	215	218
Construction costs	160	183
Interest	463	507
Professional fees	109	101
Income taxes	143	82
Dividend payable	125	375
Other	169	172
Total accrued expenses and other current liabilities	5,865	6,176
Deferred Franchise Fees And Other Deferred Revenue [Member]
Deferred franchise fees	$ 723	$ 679

Note I - Accrued Expenses, Other Current Liabilities and Other Liabilities - Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Deferred development fees	$ 67	$ 129
Reserve for uncertain tax positions (Note J)	366	427
Deferred rental liability	786	893
Dividend payable	125	250
Other	211	7
Total other liabilities	$ 1,555	$ 1,706

Note J - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%	34.00%	35.00%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 167	$ 208	$ 266
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	183	200
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	29	$ 34	$ 44
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ (5)

Note J - Income Taxes - Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Current	$ 3,024	$ 3,176	$ 5,992
Deferred	79	(11)	60
Total Federal income tax	3,103	3,165	6,052
Current	1,195	1,135	1,599
Deferred	21	(12)	51
Total State and local income tax	1,216	1,123	1,650
Total provision for income taxes	$ 4,319	$ 4,288	$ 7,702

Note J - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Computed “expected” tax expense	$ 4,013	$ 3,531	$ 6,792
State and local income taxes, net of Federal income tax benefit	797	826	1,112
Tax-exempt investment earnings		(9)	(63)
Change in uncertain tax positions, net	(11)	(129)	(62)
Nondeductible meals and entertainment and other	61	69	(77)
Nondeductible compensation	118
Tax benefit share based payments	(659)
Total provision for income taxes	$ 4,319	$ 4,288	$ 7,702

Note J - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
Deferred tax assets
Accrued expenses	$ 361	$ 236
Allowance for doubtful accounts	59	62
Deferred revenue	347	393
Deferred stock compensation	224	271
Excess of straight line over actual rent	338	379
Investment	187	151
Other	104	119
Total gross deferred tax assets	1,620	1,611
Deferred tax liabilities
Deductible prepaid expense	288	263
Depreciation expense	1,771	1,717
Amortization	374	344
Total gross deferred tax liabilities	2,433	2,324
Net deferred tax (liability)	$ (813)	$ (713)

Note J - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Unrecognized tax benefits, beginning of year	$ 208	$ 266	$ 283
Decreases of tax positions taken in prior years	(31)	(98)	(64)
Increases based on tax positions taken in current year	41	43	47
Settlements of tax positions taken in prior years	(51)	(3)
Unrecognized tax benefits, end of year	$ 167	$ 208	$ 266

Note J - Income Taxes - The Earliest Tax Years Subject to Examination by Taxing Authorities (Details) - Earliest Tax Year [Member]	12 Months Ended
	Mar. 26, 2017
Domestic Tax Authority [Member]
Earliest tax year subject to examination	2014
New York State [Member]
Earliest tax year subject to examination	2014
New York City [Member]
Earliest tax year subject to examination	2014
New Jersey [Member]
Earliest tax year subject to examination	2013
Pennsylvania [Member]
Earliest tax year subject to examination	2014

Note K - Segment Information - Operating Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 26, 2017	Dec. 25, 2016	Sep. 25, 2016	Jun. 26, 2016	Mar. 27, 2016	Dec. 27, 2015	Sep. 27, 2015	Jun. 28, 2015	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Revenues	$ 19,286	$ 19,937	$ 28,013	$ 29,416	$ 19,053	$ 20,564	$ 30,619	$ 30,654	$ 96,652	$ 100,890	$ 99,112
Income from operations	4,671	$ 4,754	$ 8,031	$ 8,824	4,486	$ 4,435	$ 8,426	$ 7,616	26,280	24,963	19,958
Interest expense									(14,665)	(14,630)	(816)
Interest income									104	52	176
Impairment charge – long-term investment (Note G)										(100)
Other income, net									85	99	87
Income before provision for income taxes									11,804	10,384	19,405
Assets	78,125				71,549				78,125	71,549	84,389
Depreciation and amortization									1,297	1,255	1,253
Corporate, Non-Segment [Member]
Revenues
Income from operations									(8,264)	(8,496)	(8,143)
Income before provision for income taxes									11,804	10,384	19,405
Assets	60,269				53,836				60,269	53,836	65,481
Depreciation and amortization									219	175	220
Branded Product Program [Member] \| Operating Segments [Member]
Revenues									56,174	59,367	59,646
Income from operations									10,257	8,394	4,497
Interest income									104	52	176
Assets	7,113				6,827				7,113	6,827	7,802
Depreciation and amortization									316	370	389
Product Licensing [Member] \| Operating Segments [Member]
Revenues									20,368	19,815	18,011
Income from operations									20,186	19,812	18,000
Impairment charge – long-term investment (Note G)										(100)
Assets	2,003				1,832				2,003	1,832	1,822
Depreciation and amortization
Restaurant Operations [Member] \| Operating Segments [Member]
Revenues									20,110	21,708	21,455
Income from operations									4,101	5,253	5,604
Other income, net									85	99	87
Assets	$ 8,740				$ 9,054				8,740	9,054	9,284
Depreciation and amortization									$ 762	$ 710	$ 644

Note L - Long-term Debt (Details Textual) - USD ($) $ in Thousands				12 Months Ended
	Mar. 15, 2017	Sep. 15, 2016	Mar. 10, 2015	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Debt Instrument, Interest Rate, Stated Percentage				10.00%	10.00%
Interest Paid				$ 13,500	$ 13,688
Special Cash Dividend [Member]
Dividends, Cash			$ 116,100
Secured Debt [Member]
Debt Instrument, Face Amount			$ 135,000
Debt Instrument, Interest Rate, Stated Percentage			10.00%
Debt Issuance Costs, Gross			$ 5,985
Debt Instrument, Term			5 years
Interest Paid	$ 6,750	$ 6,750
Debt Instrument, Fixed Charge Coverage Ratio			2
Debt Instrument, Priority Secured Leverage Ratio			0.4
Debt Instrument Secured Leverage Ratio			3.75
Debt Instrument, Event of Default, Percentage Ownership Enabling the Declaration of Due and Payable			25.00%
Secured Debt [Member] \| In The Event of Certain Equity Offerings [Member]
Debt Instrument, Redemption Price, Percentage			110.00%
Secured Debt [Member] \| In the Event of Chang of Control Offer [Member]
Debt Instrument, Redemption Price, Percentage			101.00%
Secured Debt [Member] \| In the Event the Company Sells Certain Assets and Fails to Use the Proceeds as Required [Member]
Debt Instrument, Redemption Price, Percentage			100.00%
Secured Debt [Member] \| Option to Redeem Notes at Redemption Price Equal to the Percentage of Principal Amount plus the Applicable Premium [Member]
Debt Instrument, Redemption Price, Percentage			100.00%
Secured Debt [Member] \| Option to Redeem Notes at Redemption Price Equal to the Percentage of Principal Amount plus the Applicable Premium [Member] \| Applicable Premium if Percentage of Principal Amount is Greater than Treasury Rate Basis Spread [Member]
Debt Instrument, Applicable Premium, Percentage of Principal Amount			1.00%
Secured Debt [Member] \| Option to Redeem Notes at Redemption Price Equal to the Percentage of Principal Amount plus the Applicable Premium [Member] \| Applicable Premium if Treasury Rate Basis Spread is Greater than Percentage of Principal Amount [Member] \| Treasury Rate [Member]
Debt Instrument, Applicable Premium, Treasury Rate Basis Spread			0.50%
Secured Debt [Member] \| Option to Redeem at Redemption Price Equal to Percentage of Principal Amount [Member] \| In The Event of Certain Equity Offerings [Member] \| Maximum [Member]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed			35.00%

Note L - Long-term Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Mar. 27, 2016
10.000% Senior Secured Notes due 2020	$ 135,000	$ 135,000
Less: unamortized debt issuance costs	(3,525)	(4,734)
Long-term debt, net	$ 131,475	$ 130,266

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans (Details Textual)								12 Months Ended						89 Months Ended	186 Months Ended
	Aug. 04, 2016 USD ($)	Jun. 01, 2016 USD ($)	Jun. 10, 2015 USD ($) $ / shares shares	Mar. 27, 2015 USD ($) $ / shares	Mar. 10, 2015 $ / shares	Jun. 04, 2013 USD ($) $ / shares shares	Nov. 01, 2012 USD ($) shares	Mar. 24, 2019 USD ($)	Mar. 25, 2018 USD ($)	Mar. 26, 2017 USD ($) $ / shares shares	Mar. 27, 2016 USD ($) $ / shares shares	Mar. 29, 2015 USD ($) $ / shares shares	Mar. 30, 2014 USD ($) $ / shares shares	Mar. 26, 2017 USD ($) $ / shares shares	Mar. 26, 2017 USD ($) $ / shares shares	Sep. 09, 2016 shares	Mar. 11, 2016 $ / shares shares	Feb. 01, 2016 shares	Nov. 13, 2015 $ / shares	Sep. 11, 2015 $ / shares shares	Jun. 05, 2013 $ / shares shares	Sep. 13, 2012 shares	Feb. 01, 2011 shares	Sep. 14, 2010 shares	Nov. 09, 2009 shares	May 31, 2007 USD ($)
Common Stock, Dividends, Per Share, Declared \| $ / shares												$ 25
Minimum Percentage of Common Stock Acquired by a Person or Group which Triggers Exercise of New Rights																					15.00%
New Right Purchase Price \| $ / shares																					$ 100
Common Stock, Capital Shares Reserved for Future Issuance \| shares																					10,188,600
Treasury Stock, Shares, Acquired \| shares										30,616					5,127,373
Treasury Stock, Value, Acquired, Cost Method \| $										$ 1,272,000	$ 19,231,000	$ 1,916,000			$ 77,303,000
Common Stock, Par or Stated Value Per Share \| $ / shares										$ 0.01	$ 0.01			$ 0.01	$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross \| shares												50,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price \| $ / shares												$ 53.89
Share Based Compensation Arrangement by Share Based Payment Award Option Life												5 years
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased \| shares										260,258				260,258	260,258
Number of Times of Salary and Bonus Lump Sum Cash Payment										2.99				2.99	2.99
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent										20.00%
Defined Contribution Plan, Employer Matching Contribution Rate Per Dollar										0.25
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay										3.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount \| $										$ 41,000	$ 35,000	$ 30,000
Multiemployer Plans, Plan Contributions \| $										10,000	8,000	10,000
Payments of Ordinary Dividends, Common Stock \| $										375,000	375,000	$ 115,110,000
Increased Number of Shares Available for Issuance Due to Plan Amendment \| shares																						250,000
Amount of Available Common Shares Reduced by Each Share of Restricted Stock Granted \| shares																						3.2
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period												4 years
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense \| $										213,000	$ 298,000	$ 350,000
Share Based Compensation Total Unamortized Compensation Expense \| $										$ 549,000				$ 549,000	$ 549,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period \| shares										48,285	15,147	235,125
Proceeds from Stock Options Exercised \| $										$ 44,000	$ 89,000	$ 880,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value \| $										$ 1,555,000	$ 486,000	13,040,000
Share Price \| $ / shares				$ 73.56
Executive Chairman of the Board [Member]
Term of Consulting Period Pursuant to the Lorber Employment [Agreement]							0 years
President and Chief Operating Officer [Member]
Transition Agreement, Severance Payable \| $			$ 289,000
Transition Agreement, Number of Shares of Common Stock Purchased \| shares			56,933
Common Stock, Par or Stated Value Per Share \| $ / shares			$ 0.01
Share Price \| $ / shares			$ 40.28
Consulting Fee Per Month \| $	$ 8,100		$ 16,300
Base Salary [Member] \| Executive Chairman of the Board [Member]
Contractual Obligation \| $							$ 600,000
Base Salary [Member] \| Chief Executive Officer [Member]
Defined Contribution Plan, Employer Discretionary Contribution Amount \| $		$ 500,000
Base Salary [Member] \| One Employee [Member]
Contractual Obligation \| $																										$ 136,000
Consulting Fee [Member] \| Executive Chairman of the Board [Member]
Contractual Obligation \| $							$ 200,000
Dutch Auction Tender Offer [Member]
Treasury Stock, Shares, Acquired \| shares											88,672
Treasury Stock, Value, Acquired, Cost Method \| $											$ 4,056,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased \| shares																				500,000
Sixth Stock Repurchase Plan [Member]
Treasury Stock, Shares, Acquired \| shares														939,742
Treasury Stock, Value, Acquired, Cost Method \| $														$ 29,641,000
Stock Repurchase Program Number of Additional Shares Authorized to be Repurchased \| shares																	200,000	200,000					300,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased \| shares																	1,200,000								500,000
MSI Agreement [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased \| shares																100,000	175,000
Common Stock, Par or Stated Value Per Share \| $ / shares																	$ 0.01
Minimum [Member] \| Dutch Auction Tender Offer [Member]
Share Price \| $ / shares																			$ 41	$ 33
Maximum [Member] \| Dutch Auction Tender Offer [Member]
Share Price \| $ / shares																			$ 44	$ 36
Newly Authorized Additional Shares Pursuant to 2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares																								150,000
Shares Expired or Forfeited up to 100000 Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares																								100,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares										223,698				223,698	223,698
Employee Stock Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period										5 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period										3 years
Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period										10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period										5 years
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares													25,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant \| shares										190,218				190,218	190,218
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period													5 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized \| $													$ 1,245,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition													5 years
Share Price \| $ / shares													$ 49.80
Restricted Stock [Member] \| Executive Chairman of the Board [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares							50,000
Restricted Stock [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares						25,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized \| $						$ 1,245,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						5 years
Share Price \| $ / shares						$ 49.80
Common Stock Purchase Rights [Member]
Common Stock, Capital Shares Reserved for Future Issuance \| shares										7,396,439				7,396,439	7,396,439
Excluding Dividend [Member]
Share Price \| $ / shares				48.56
Special Cash Dividend [Member]
Common Stock, Dividends, Per Share, Declared \| $ / shares				$ 25	$ 25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value \| $										$ 736,000	$ 683,000	$ 965,000
Dividends Payable \| $				$ 1,000,000
Payments of Ordinary Dividends, Common Stock \| $				$ 115,100,000						$ 750,000
Special Cash Dividend [Member] \| Scenario, Forecast [Member]
Payments of Ordinary Dividends, Common Stock \| $								$ 125,000	$ 125,000

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - Fair Value Option Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Weighted-average option fair values (in dollars per share)			$ 11.97
Expected life (years) (Year)			4 years 182 days
Interest rate			1.66%
Volatility			22.77%
Dividend Yield			0.00%

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - Compensation Cost Charged to Expense Under All Stock-based Incentive Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Share-based Compensation Expense	$ 582	$ 722	$ 859
Employee Stock Option [Member]
Share-based Compensation Expense	150	181	318
Restricted Stock [Member]
Share-based Compensation Expense	$ 432	$ 541	$ 541

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - A Summary of the Status of the Company's Stock Options (Details) - $ / shares	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015
Options outstanding – beginning of year (in shares)		142,964	279,500
Options outstanding – beginning of year (in dollars per share)		$ 24.36	$ 15.22
Options outstanding - end of year (in dollars per share)	$ 35.58		24.36
Options exercisable - end of year (in dollars per share)	$ 35.58	$ 18.44
Options exercisable - end of year (in shares)	37,873	67,221
Granted (in shares)			50,000
Granted (in dollars per share)			$ 53.89
Expired (in shares)		(3,787)
Expired (in dollars per share)		$ 11.72
Exercised (in shares)	(48,285)	(15,147)	(235,125)
Exercised (in dollars per share)	$ 11.72	$ 11.72	$ 14.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			50,000
Weighted-average fair value of options granted (in dollars per share)			$ 11.97
Options outstanding - end of year (in shares)	75,745		142,964
Options Outstanding After Replacement Stock Issuance [Member]
Options outstanding – beginning of year (in shares)	124,030
Options outstanding – beginning of year (in dollars per share)	$ 26.29
Options outstanding - end of year (in dollars per share)		$ 26.29
Options outstanding - end of year (in shares)		124,030
Options Outstanding Before Replacement Stock Issuance [Member]
Options outstanding – beginning of year (in shares)	124,030
Options outstanding – beginning of year (in dollars per share)	$ 26.29
Options outstanding - end of year (in dollars per share)		$ 26.29
Options outstanding - end of year (in shares)		124,030

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - Outstanding Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 29, 2015	Mar. 27, 2016	Mar. 30, 2014
Options exercisable - end of year (in dollars per share)	$ 35.58		$ 18.44
Options exercisable, weighted average remaining contractual life (Year)	2 years 131 days
Options exercisable, aggregate intrinsic value	$ 950
Options outstanding (in shares)	75,745	142,964		279,500
Options outstanding, weighted average exercise price (in dollars per share)	$ 35.58	$ 24.36		$ 15.22
Options outstanding, weighted average remaining contractual life (Year)	2 years 131 days	2 years 317 days
Options outstanding, aggregate intrinsic value	$ 1,899	$ 3,460
Options exercisable - end of year (in shares)	37,873		67,221

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - Outstanding Stock Options (Details) (Parentheticals) - $ / shares	12 Months Ended
	Mar. 26, 2017	Mar. 29, 2015
Exercise price range, upper limit (in dollars per share)	$ 35.576	$ 35.576
Exercise price range, lower limit (in dollars per share)	$ 35.576	$ 11.72

Note M - Stockholders' Equity, Stock Plans and Other Employee Benefit Plans - Transactions With Respect to Restricted Stock (Details)	12 Months Ended
	Mar. 26, 2017 $ / shares shares
Unvested restricted stock (in shares) \| shares	25,000
Unvested restricted stock (in dollars per share) \| $ / shares	$ 41.59
Vested (in shares) \| shares	(15,000)
Vested (in dollars per share) \| $ / shares	$ 36.13
Unvested restricted stock (in shares) \| shares	10,000
Unvested restricted stock (in dollars per share) \| $ / shares	$ 49.80

Note N - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015	Feb. 27, 2017
Operating Leases, Rent Expense, Net	$ 1,566	$ 1,628	$ 1,617
Operating Leases, Rent Expense, Sublease Rentals	272	270	267
Operating Leases, Rent Expense, Contingent Rentals	$ 457	$ 517	$ 489
Guaranty Liabilities				$ 204
Minimum [Member]
Lessee, Operating Lease, Term of Contract	5 years
Lessee, Operating Lease, Renewal Term	5 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	20 years
Lessee, Operating Lease, Renewal Term	20 years

- Definition

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

+ References + Details

Note N - Commitments and Contingencies - Non-cancelable Operating Lease Commitments (Details) $ in Thousands	Mar. 26, 2017 USD ($)
2018, Lease commitments	$ 1,645
2018, Sublease income	327
2018, Net lease commitments	1,318
2019, Lease commitments	1,654
2019, Sublease income	330
2019, Net lease commitments	1,324
2020, Lease commitments	1,545
2020, Sublease income	332
2020, Net lease commitments	1,213
2021, Lease commitments	1,063
2021, Sublease income	309
2021, Net lease commitments	754
2022, Lease commitments	1,065
2022, Sublease income	263
2022, Net lease commitments	802
Thereafter, Lease commitments	5,841
Thereafter, Sublease income	865
Thereafter, Net lease commitments	4,976
Lease commitments	12,813
Sublease income	2,426
Net lease commitments	$ 10,387

Note P - Quarterly Financial Information (Unaudited) - Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 26, 2017

Dec. 25, 2016

Sep. 25, 2016

Jun. 26, 2016

Mar. 27, 2016

Dec. 27, 2015

Sep. 27, 2015

Jun. 28, 2015

Mar. 26, 2017

Mar. 27, 2016

Mar. 29, 2015

Revenues

$ 19,286

$ 19,937

$ 28,013

$ 29,416

$ 19,053

$ 20,564

$ 30,619

$ 30,654

$ 96,652

$ 100,890

$ 99,112

Gross profit (a)

^[1]

2,906

4,074

6,402

5,804

3,254

3,681

6,313

4,785

Income from operations

4,671

4,754

8,031

8,824

4,486

4,435

8,426

7,616

26,280

24,963

19,958

Net income

$ 729

$ 699

$ 2,507

$ 3,550

$ 507

$ 432

$ 2,847

$ 2,310

$ 7,485

$ 6,096

$ 11,703

Net income per share, basic calculation (in dollars per share)

$ 0.17

^[2]

$ 0.17

^[2]

$ 0.60

^[2]

$ 0.85

^[2]

$ 0.12

^[2]

$ 0.10

^[2]

$ 0.64

^[2]

$ 0.50

^[2]

$ 1.79

$ 1.38

$ 2.61

Net income, diluted calculation (in dollars per share)

$ 0.17

^[2]

$ 0.17

^[2]

$ 0.60

^[2]

$ 0.85

^[2]

$ 0.12

^[2]

$ 0.10

^[2]

$ 0.64

^[2]

$ 0.50

^[2]

$ 1.78

$ 1.37

$ 2.55

Number of shares, basic calculation (in shares)

4,176,000

^[2]

4,175,000

^[2]

4,172,000

^[2]

4,166,000

^[2]

4,297,000

^[2]

4,408,000

^[2]

4,432,000

^[2]

4,584,000

^[2]

4,172,000

4,430,000

4,486,000

Number of shares, diluted calculation (in shares)

4,217,000

^[2]

4,209,000

^[2]

4,207,000

^[2]

4,191,000

^[2]

4,337,000

^[2]

4,444,000

^[2]

4,449,000

^[2]

4,621,000

^[2]

4,206,000

4,463,000

4,588,000

[1]	Gross profit represents the difference between sales and cost of sales.
[2]	The sum of the quarters may not equal the full year per share amounts included in the accompanying consolidated statements of earnings due to the effect of the weighted average number of shares outstanding during the fiscal years as compared to the quarters.

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($)
$ in Thousands

12 Months Ended

Mar. 26, 2017

Mar. 27, 2016

Mar. 29, 2015

Deductions

^[1]

$ (67)

$ (10)

$ (13)

Balance at end of period

457

471

443

Balance at beginning of period

471

443

433

Additions charged to costs and expenses

Additions charged to other accounts

[1]	Uncollectible amounts written off.

Note O - Related Party Transactions	12 Months Ended
Note O - Related Party Transactions	Mar. 26, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE O - RELATED PARTY TRANSACTIONS A firm to which Mr. Lorber is as an investor (and, prior to January 2012, a consultant), and the firm’s affiliates, received ordinary and customary insurance commissions aggregating approximately $26, $19 and $24 for the fiscal years ended March 26, 2017, March 27, 2016 and March 29, 2015, respectively.

Note E - Accounts and Other Receivables, Net (Details Textual)	12 Months Ended
	Mar. 26, 2017
Accounts Receivable Payment Terms	30 days

Note L - Long-term Debt - Summary of Redemption Features (Details)	12 Months Ended
	Mar. 26, 2017
Debt Instrument, Redemption, Period One [Member]
Debt instrument, redemption price, percentage	105.00%
Debt Instrument, Redemption, Period Two [Member]
Debt instrument, redemption price, percentage	102.50%
Debt Instrument, Redemption, Period Three [Member]
Debt instrument, redemption price, percentage	100.00%

Note A - Description and Organization of Business (Details Textual)	Mar. 26, 2017	Mar. 27, 2016	Mar. 29, 2015	Mar. 30, 2014
Number of States in which Entity Operates	19
Number of Countries in which Entity Operates	12
Entity Operated Units [Member]
Number of Restaurants	5
Franchised Units [Member]
Number of Restaurants	279	259	296	324

Note K - Segment Information (Details Textual)	12 Months Ended
Note K - Segment Information (Details Textual)	Mar. 26, 2017	Mar. 27, 2016
Number of Operating Segments	3	1