According to a news report from Forbes.com, “California Pizza Kitchen Inc., which operates a chain of gourmet pizza restaurants, on Tuesday lowered guidance for the second quarter based on preliminary sales and costs.”
“The company said it expects to earn 21 cents per share, down from an estimate given in May of between 23 cents per share and 24 cents per share for the quarter. The company based the new guidance on expected termination costs of 2 cents per share for an unopened restaurant. Excluding that charge, the company said it would earn 23 cents per share. Analysts polled by Thomson Financial expect net income of 24 cents per share,” said the story.