News
California Pizza Kitchen net up 30 percent
February 14, 2008
LOS ANGELES — Comparable-store sales at California Pizza Kitchen Inc. increased 1.8 percent in the fourth quarter ended Dec. 30, 2007, the company announced. For the year, comparable-store sales were up 3.8 percent.
Revenues for the quarter were up 12 percent to $162.9 million. For the year, revenues grew 14.1 percent to $632.9 million.
Net income for the fourth quarter was $4.8 million, up 30 percent compared with net income of $3.7 million for the fourth quarter of 2006. Net income for the full year was $16.2 million, down 23 percent from net income of $21 million the previous year.
The company added seven full-service restaurants during the fourth quarter, while CPK's international franchise partners, Global Restaurant Concepts Inc. and Iris Co. Ltd., each added one full-service restaurant in Makati City, Philippines and Seoul, South Korea, respectively.
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