California Pizza Falls to 3Q Loss, 4Q Looks Weak

According to Forbes, ” California Pizza Kitchen Inc. on Thursday posted a third-quarter loss on store closings and legal settlement costs, and forecast fourth-quarter results below analyst estimates. Shares fell in after-hours trading.”

“The restaurant chain said it lost $7.5 million, or 31 cents per share, in the three-month period ended Oct. 3. In the same period last year the company earned $5.8 million, or 24 cents per share. Excluding one-time items the company earned 23 cents a share in the latest quarter. Revenue fell less than 1 percent to $164.5 million. Revenue at stores open at least a year rose 0.7 percent in the quarter. That’s an important industry measure because it shows growth at existing locations.”