Kona Grill (KONA) Misses Q3 EPS by 9c

Kona Grill (NASDAQ: KONA) reported Q3 EPS of ($0.24), $0.09 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $43.4 million versus the consensus estimate of $45.31 million.

he Company has revised its 2016 guidance to restaurant sales of $172 million, representing 20% year-over-year growth, compared to $143 million in 2015, and adjusted its same-store sales growth estimate to 1.5% to 2.0%. The Company also adjusted its 2016 forecast of Adjusted EBITDA* to $13.8 million, which represents 15% year-over-year growth. The Company further projects growing EBITDA by over 30%.

The Company has not reconciled EBITDA and Adjusted EBITDA guidance to the corresponding GAAP financial measure because it does not provide guidance for the various reconciling items. The Company is unable to provide guidance for these reconciling items since certain items that impact net income are outside of its control and cannot be reasonably predicted. Accordingly, reconciliations to the corresponding GAAP financial measures are not available without unreasonable effort.

The Company reduced its forecast of capital expenditures, net of tenant allowances, to range from $32 million to $34 million, primarily related to new restaurant development and remodeling initiatives.

For earnings history and earnings-related data on Kona Grill (KONA) click here.

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