California Pizza Surprises
The company preannounces stronger-than-expected fourth-quarter results.
California Pizza Kitchen
(CPKI)
Tuesday preannounced fourth-quarter earnings that beat analysts' expectations with a 20% jump in revenue.
The restaurant said it expects to earn 32 cents a share on revenue of $115.1 million for the quarter ended Jan 2. Same-store sales rose 7.7%, almost double the rate of a year ago. The company had previously forecast EPS of 30 cents.
Analysts had expected EPS of 30 cents on revenue of 111.4 million.
The Los Angeles-based company reports fourth-quarter and full-year earnings on Feb. 3.
Shares rose 32 cents, or 1.3%, to $23.87.