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Kona Grill (NDAQ: KONA) management is raking investors over the coals and they aren’t happy. Clarke Bennitt LLC was the first to uncover some questionable regulatory filings that clearly demonstrate a conflict of interest with shareholders. Now, many shareholders like Clarke Bennitt are demanding changes be made in order to restore confidence in the company, according to a Schedule 13D filing with the SEC. A recent <a[More...]
Kona Grill, Inc. (NASD: KONA), an American grill and sushi bar, recently announced its financial results for the third quarter ended September 30, 2008. Restaurant sales from continuing operations increased 4.3 percent to $19.5 million from $18.7 million during the corresponding quarter in 2007. The increase in restaurant sales during the third quarter reflects additional revenue from three stores opened since November 2007. The company expects fourth quarter sales to range between $19.3 million to $19.8 million with a net loss from continuing operations of $1.2 million to $1.5 million, or a net loss of $0.18 to $0.23 per diluted share. For fiscal year 2008, the management has revised its guidance to reflect the closure of the Naples, FL restaurant. The company is now forecasting sales of $76.5 million to $77.0 million and a loss from continuing operations of $2.8 million to $3.1 million, or a net loss of $0.43 to $0.48 per diluted share. Craig Hallum[More...]
Luby's Restaurants See No Jump in Business This Year, 78% of Landry's Restaurants have Steady or Less Business from a Year Ago, 63% of Buca Restaurants Say Business is the Same or Slumped From a Year Ago
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