This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Kona Grill, Inc. Reports Third Quarter Results

SCOTTSDALE, Ariz., Oct. 26, 2010 (GLOBE NEWSWIRE) -- Kona Grill, Inc. (Nasdaq:KONA), an American grill and sushi bar, today reported results for its third quarter ended September 30, 2010.

Third Quarter 2010 Highlights Include:

  • Restaurant sales increased 7.1% to $21.6 million
  • Same-store sales were flat
  • Restaurant operating profit margin of 12.8%
  • Average weekly sales for restaurants not in the same-store sales base increased 4.3%

"Both top and bottom-line results exceeded the high end of our guidance for the quarter, reflecting stronger same-store sales than we had originally projected. We continue to see positive sales momentum into October as well, and we are confident that we can finish the year strong if current trends continue. We continue to be excited by the positive response to our various marketing and menu improvement efforts and believe that these investments will go a long way in building the foundation for the long-term success of Kona Grill," said Marc Buehler, Chief Executive Officer of Kona Grill.

Third Quarter 2010 Financial Results

Restaurant sales increased 7.1% to $21.6 million from $20.2 million during the same quarter last year. The increase in restaurant sales during the third quarter reflects additional revenue from two restaurants opened since August 2009. Same-store sales were flat during the third quarter of 2010 compared to a decrease of 9.9% in the prior year period.

Average weekly sales for the 20 restaurants in the comparable base were $71,664 during the third quarter of 2010, compared to $71,690 in the prior year period. Average weekly sales for restaurants not in the comparable base were $58,542 during the third quarter of 2010 versus $56,138 last year. 

Net loss for the third quarter of 2010 was $0.4 million, or $0.05 per share compared to a net loss of $1.0 million, or $0.11 per share, for the same period last year. 

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs