Kona Grill 2Q sales, revenue increase modestly

Kona Grill 2Q sales, revenue increase modestly

Net income declined partially due to deferred loan costs

Kona Grill Inc. reported on Thursday an 11.9-percent decrease in net income for the June 30-ended second quarter. Top-line results at the 23-unit Scottsdale, Ariz.-based casual-dining chain were up, driven by a 2.5-percent increase in same-store sales, but the company said the net loss included write-offs for deferred loan costs on a prior credit facility.
 

NET INCOME

Result: $1.6 million, or 18 cents per share
% Decrease: 11.9% (from $1.8 million, or 20 cents per share)

REVENUE

Result: $25.8 million
% Increase: 3.2% (from $25 million)

SAME-STORE SALES

% Increase: 2.5%

Source: Company report



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A look at Kona Grill's new restaurant design [4]
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Contact Ron Ruggless at [email protected] [7].
Follow him on Twitter: @RonRuggless [8]