News
California Pizza Kitchen raises earnings guidance
August 7, 2008
LOS ANGELES –- Comparable-store sales at gourmet pizzeria California Pizza Kitchen increased 1.4 percent in the company's second quarter ended June 29, 2008. Year-to-date comps were up 1 percent.
Revenues for the quarter were $176.6 million, up 11 percent compared with revenues of $158.6 million for the 2007 second quarter. Year-to-date revenues were $341.3 million, up 11 percent compared with revenues of $307.9 million for the first six months of last year.
The company added three domestic restaurants and three international restaurants during the quarter.
Net income for the second quarter was $6.6 million, up 5 percent compared with net income of $6.3 million for the 2007 second quarter. Year-to-date net income was $9 million, off 9 percent compared with net income of $9.9 million for the same period last year.
California Pizza Kitchen raised earnings estimates for the year to 65-70 cents per share.
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