CPK raises estimate for fourth-quarter profit

California Pizza Kitchen Inc. said fourth-quarter sales at stores open at least a year rose 6.9%, more than expected, prompting the restaurant chain to raise its earnings estimate.

The company said it now expected earnings of 15 cents to 17 cents a share for the fourth quarter, up from its previous forecast of 13 cents to 15 cents.

It expects to report that revenue in the latest period rose 16% to $146 million.

The Westchester-based company, which plans to report fourth-quarter earnings Feb. 15, said it added nine full-service restaurants in the latest quarter.