Chicago Pizza & Brewery Posts $2.3-Million Loss

Chicago Pizza & Brewery Inc., an operator of 29 casual-dining restaurants, reported a net loss of $2.3 million, or 52 cents a share, for 1996, compared with a net loss of $1.6 million, or 55 cents a share, for 1995. Contributing to the 1996 loss were several one-time expenses totaling $925,000, including $390,000 in debt financing costs and $188,000 in noncash interest expense, both related to the conversion of company bonds to common stock and warrants at the close of the company’s initial public offering in October. Revenue rose to $19.9 million from $6.6 million. The company said the gain came primarily from the purchase of 19 stores in the Northwest in March 1996. The fourth-quarter net loss totaled $906,000, or 15 cents a share, compared with a net loss of $377,000, or 13 cents a share, for the like period a year ago. Revenue advanced to $5.5 million from $1.4 million.