California Pizza Kitchen Lowers its Profit Outlook

According to the LA Times, “California Pizza Kitchen Inc. made less money than anticipated during the fourth quarter of last year, the Los Angeles-based restaurant chain said Thursday.”

“CPK lowered the projection it provides to Wall Street analysts, saying it expects to report net income of 15 to 17 cents a share for the quarter, rather than the 16 to 18 cents previously announced. Analysts, on average, had expected 18 cents.Still, revenues were up modestly for the quarter. Customers spent about 4% more at CPK restaurants during the last three months of 2009 than during the same period a year earlier, which included the steepest part of the stock-market crash.”