California Pizza Kitchen Boosts Estimates

Third-quarter revenue rises nearly 15%.
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California Pizza Kitchen (CPKI) boosted third-quarter estimates after reporting that September revenue rose nearly 15%.

The Los Angeles-based restaurant chain operator said revenue rose to $142.8 million from $124.5 million a year earlier, while same-store sales grew about 5.6% in the third quarter, down from 7.1% growth last year.

The company said it now expects to earn 33 cents to 34 cents a share in the third quarter. In August, California Pizza Kitchen had said it was expecting to earn 32 cents to 33 cents a share on a same-store sales increase of about 4% to 5%.

Shares of California Pizza Kitchen fell 52 cents, or 1.6%, to $31.55 in extended trading.