Kona Grill (KONA) Reports Preliminary Q4 Sales Results; Sees Q4 Loss Slightly Lower-Than Prior Guidance
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Price: $0.14 --0%
Financial Fact:
Restaurant operating expenses: 6.27M
Today's EPS Names:
SVBT, ZEO, OTLK, More
Financial Fact:
Restaurant operating expenses: 6.27M
Today's EPS Names:
SVBT, ZEO, OTLK, More
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Kona Grill, Inc. (NASDAQ: KONA) today released preliminary Q4 results.
For the fourth quarter 2009, sales increased 7.7% to $20.0 million from $18.6 million a year-ago, while comparable restaurant sales decreased approximately 8.1%. During its third quarter conference call in October, the Company had previously forecasted an approximate 9.0% decrease in comparable restaurant sales for the period.
Due to margin compression, management now expects that the Q4 EPS will be slightly below the previous guidance of ($0.11)-($0.16), ex-items. The Street is currently looking for Q4 loss of $0.14.
The Company will release and comment on these results during its next quarterly earnings call, scheduled for February 10, 2010.
"While fourth quarter operating results reflect the challenging economic environment, we are excited about our plans for 2010. Our leadership team has developed several initiatives designed to drive guest frequency and increase brand awareness, and ultimately, improve our financial results," said Marc Buehler, President and Chief Executive Officer of Kona Grill.
For the fourth quarter 2009, sales increased 7.7% to $20.0 million from $18.6 million a year-ago, while comparable restaurant sales decreased approximately 8.1%. During its third quarter conference call in October, the Company had previously forecasted an approximate 9.0% decrease in comparable restaurant sales for the period.
Due to margin compression, management now expects that the Q4 EPS will be slightly below the previous guidance of ($0.11)-($0.16), ex-items. The Street is currently looking for Q4 loss of $0.14.
The Company will release and comment on these results during its next quarterly earnings call, scheduled for February 10, 2010.
"While fourth quarter operating results reflect the challenging economic environment, we are excited about our plans for 2010. Our leadership team has developed several initiatives designed to drive guest frequency and increase brand awareness, and ultimately, improve our financial results," said Marc Buehler, President and Chief Executive Officer of Kona Grill.
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