Kona Grill swings to loss in 1Q

Kona Grill swings to loss in 1Q

Special charges, remodeling costs weigh on earnings

Kona Grill Inc. swung to a loss in the first quarter ended March 31, on charges for accelerated depreciation, rents and remodeling costs, the company reported Tuesday.

The Scottsdale, Ariz.-based grill and sushi bar operator reported a net loss of $925,000, or a loss of eight cents a share, compared with a profit of $251,000, or three cents a share, in the same period last year. Revenue rose 18.8 percent, to $32.8 million, from $27.6 million in the prior-year period.


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