Kona Grill (KONA) Misses Q4 EPS by 1c

Kona Grill (NASDAQ: KONA) reported Q4 EPS of ($0.18), $0.01 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $38.1 million versus the consensus estimate of $37.98 million.

• Same-store sales increased 3.2%

“Fourth quarter same-store sales growth of 3.2% is indicative of our concept strength, especially given recent industry trends, and enabled us to extend our track record of positive same-store sales growth to eleven consecutive quarters and in 21 of the last 22 quarters. We also exceeded our projection for Adjusted EBITDA, which grew 19.4% over the year-ago quarter,” said Berke Bakay, President and CEO of Kona Grill.

“We opened four restaurants during the fourth quarter, a total of seven restaurants in 2015, and are on track to open eight restaurants in 2016. We are well positioned to grow domestically through our robust pipeline and to develop internationally through franchising. We have already executed an agreement for six restaurants in Mexico over the next seven years, are working to finalize an agreement for the Middle East, and are holding ongoing discussions with potential franchisees for other territories,” he added.

“This year, we have guided to restaurant sales and adjusted EBITDA growth of 25% as well as unit growth of at least 20%. We believe we are among a select few restaurant companies that are poised to grow at such a strong pace,” he concluded.

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

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