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, Newcastle: After-Hours Trading

Stocks in this article: KONA ARAY NCT

NEW YORK ( TheStreet) -- Kona Grill (KONA) shares leapt in late trades on Monday after the Scottsdale, Ariz.-based restaurant operator boosted its third-quarter financial outlook, citing strong sales growth.

The company now sees net income of $500,000 to $600,000, or 5 to 6 cents a share, in the three months ended Sept. 30, up from a prior projection of $100,000 to $300,000, or 1 to 3 cents a share. Revenue is expected to come in between $24.1 million to $24.2 million in the quarter, an increase of $500,000 on the high end, Kona Grill said.

Same-store sales are now pegged at increasing 9% vs. a previous view for growth of 6%.

"Our restaurants continue to gain market share as evidenced by our strong same-store sales," said Michael Nahkunst, the company's interim president and CEO, in a statement. "Our revised outlook for stronger earnings in the third quarter firmly supports our forecast of achieving profitability for the year."

The stock was last quoted at $6.10, up 16%, with volume of less than 5,000, according to Based on Monday's regular session close at $5.26, the shares were already up more than 50% in the past year.

Kona Grill, which serves sushi, operates 24 restaurants in 16 states, and all five of the analysts covering the stock are bullish at either strong buy (2) or buy (3).


Shares of Accuray (ARAY) tumbled in Monday's extended session, losing 8% to $4.51 on volume of around 15,000, after the Sunnyvale, Calif.-based radiation oncology company posted a surprise loss in its fiscal fourth quarter and gave a weak first-quarter outlook.

Including charges and expenses totaling $18.7 million related to its TomoTherapy acquisition, the company said it lost $25 million, or 40 cents a share, in the three months ended June 30 with revenue totaling $75.2 million.

The average estimate of analysts polled by Thomson Reuters was for earnings of 7 cents a share in the June-ended period on revenue of $64.8 million.

For its fiscal first quarter ending in September, Accuray said it sees revenue of $80 million to $85 million, below Wall Street's current consensus view of $93.3 million. For fiscal 2012, the company forecast revenue of between $400 million and $415 million, which is ahead of the average analysts' estimate of $377.7 million.

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