California Pizza Kitchen (CPKI) Raises Q2 EPS Guidance; $50M Buyback
More News related to CPKI
- Fourth California Pizza Kitchen Location Opens in Mexico
- Time Warner Veteran Les Bider Joins PinnacleCare as Chief Executive Officer of the Global Private Health Advisory Firm
- California Pizza Kitchen Opens in Albuquerque, New Mexico and Baton Rouge, Louisiana
- California Pizza Kitchen (CPKI) Reports In-Line; Increases FY08 EPS Guidance
- California Pizza Kitchen Announces a 24% Increase in Earnings Per Share for the Second Quarter of 2008 and Raises Full Year Guidance
California Pizza Kitchen, Inc. (Nasdaq: CPKI) said Q2 revenues increased 11.3% to $176.6 million. Comparable restaurant sales increased approximately 1.4%. California Pizza now expects earnings of $0.25-$0.26 per diluted share, versus prior guidance of $0.16 to $0.17. The consensus is $0.17.
California Pizza cited second quarter revenues, positive comparable restaurant sales from the Company’s Thank You Card Program and a continued focus on operating efficiencies.
California Pizza Kitchen also announced today that its Board of Directors has authorized the repurchase of up to $50.0 million of common stock over the next two years.
CPKI also said, "we are not adjusting full year 2008 guidance at this time due to limited sales visibility and an ongoing concern for the economy."
Related Categories
GuidanceHot List
Stock Buybacks
Stocks Mentioned
-0.01Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
