CPK’s Net Income Rises 7.8% as Sales Climb
From the Associated Press
California Pizza Kitchen Inc. said its first-quarter profit edged up 7.8% to $4.6 million, or 23 cents a share, from $4.3 million, or 22 cents, a year earlier. Revenue rose 17.5% to $129.7 million.
Analysts polled by Thomson Financial were looking for earnings of 23 cents a share, including stock options.
Excluding stock-based compensation expenses, earnings were $5.6 million, or 27 cents a share.
Sales at restaurants open at least a year, a key measure of retail health, gained 6.4% on higher guest counts, new menu item sales and gift card redemptions.
California Pizza Kitchen expected second-quarter profit of 28 cents to 29 cents a share.
Shares of Westchester-based California Pizza Kitchen fell $1.21, or 3.7%, to $31.92.
