LOS ANGELES -- California Pizza Kitchen Inc., (Nasdaq:CPKI) announced on April 4 that revenues increased 23 percent to $70.2 million for the first quarter ended March 31, 2002, versus $57 million in the same period last year. Comparable restaurant sales increased approximately 2.7 percent, due mostly to menu price increases applied from May to November 2001.

In its Jan. 29 conference call, the company forecasted first-quarter same-store sales growth of approximately 1 percent and earnings-per-share guidance in the range of $0.17 to $0.19. CPK management said in a release that it is now comfortable with the high-end of that range. In addition, based on the current development schedule and economic outlook, management remains comfortable with full year fiscal 2002 earnings per share guidance between $0.80 and $0.84.

During the first quarter CPK opened three new restaurants, and it plans to open a minimum of 14 others during the remainder of the year. Four of those stores are slated for the second quarter.

As of April 4, California Pizza Kitchen operates, licenses or franchises 131 restaurants of which 102 are company-owned. Twenty-nine operate under franchise or license agreements.

Related Content

User Comments – Give us your opinion!
Products & Services

PeopleMatter LEARN™

http://global.networldalliance.com/new/images/products/4627.png

4627/PeopleMatter-LEARN

Restaurant Sales Builder

http://global.networldalliance.com/new/images/products/4286.png

4286/Restaurant-Sales-Builder

HAND-PINCHED STYLE® Sausage and Beef Toppings

http://global.networldalliance.com/new/images/products/6785.png

6785/HAND-PINCHED-STYLE-Sausage-and-Beef-Toppings

Hardware

http://global.networldalliance.com/new/images/products/4553.png

4553/Hardware

Restaurant Digital Signage Advertising Network

http://global.networldalliance.com/new/images/products/6691.png

6691/Restaurant-Digital-Signage-Advertising-Network

Online Ordering

http://global.networldalliance.com/new/images/products/5931.png

5931/Online-Ordering

Luzianne iced tea

http://global.networldalliance.com/new/images/products/6957.png

6957/Luzianne-iced-tea

Put your menu in your customers' pocket

http://global.networldalliance.com/new/images/products/1293.png

1293/Put-your-menu-in-your-customers-pocket

PeopleMatter HIRE™

http://global.networldalliance.com/new/images/products/4625.png

4625/PeopleMatter-HIRE

Social Security Number (SSN) Verification

http://global.networldalliance.com/new/images/products/SSN_employmentsearch.gif

1426/Social-Security-Number-SSN-Verification

Digital Menu Boards and ROI
Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.