California Pizza Kitchen: Hot, Tasty Profits
California Pizza Kitchen beats Wall Street's expectations, helped by cost control and lower cheese prices.
California Pizza Kitchen
(CPKI)
beat Wall Street's expectations, helped by cost controls and lower cheese prices.
During the quarter, the company posted earnings of $2.6 million, or 11 cents a share, compared with $2.5 million, or 9 cents in the year-ago period. Analysts expected earnings of 10 cents.
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Revenue declined 2% to $161.1 million, while sales at company-owned restaurants open at least 18 months fell 5.9%.
Shares of the company ended the day down 3% to $14.81.
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