Same store sales suck.
Kona Grill Reports Fourth Quarter and Full Year 2006 Results
Tuesday February 13, 4:00 pm ET
Fourth Quarter Revenues Increase 41.8%; Diluted EPS of ($0.19)
Company Issues 2007 Guidance
Company to Present at Roth Capital Partners 19th Annual OC Conference
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Kona Grill, Inc. (Nasdaq: KONA - News), an American grill and sushi bar, today reported results for its fourth quarter and full year ended December 31, 2006.
Highlights for the fourth quarter of 2006 include:
Opened restaurants in Oak Brook, IL and Naples, FL bringing total to 14
Revenue increased 41.8% to $14.8 million
Same-store sales increased 1.3%
Restaurant operating profit increased 29.1% to $2.7 million
Net loss of ($1.1) million, or ($0.19) per diluted share, including non-cash stock-based compensation expense of $0.3 million, or $0.05 per diluted share
Highlights for the full year of 2006 include:
Achieved goal of opening five new restaurants, resulting in 56% unit growth
Revenue increased 37.7% to $50.7 million
Same-store sales increased 4.0%
Restaurant operating profit increased 27.0% to $10.2 million
Net loss of ($2.7) million, or ($0.47) per diluted share, including non-cash stock-based compensation expense of $1.0 million, or $0.17 per diluted share, and previously announced separation charges of $0.4 million, or $0.08 per diluted share |
