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Kona Grill Q1 loss widens 74.1% YOY

Kona Grill Inc. said its normalized net income for the first quarter was a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 12 cents per share.

The per-share loss widened 73.7% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.0 million, compared with a loss of $585,630 in the year-earlier period.

The normalized profit margin fell to negative 2.6% from negative 1.8% in the year-earlier period.

Total revenue rose 19.7% year over year to $39.3 million from $32.8 million, and total operating expenses climbed 21.2% year over year to $40.9 million from $33.7 million.

Reported net income came to a loss of $1.7 million, or a loss of 15 cents per share, compared to a loss of $898,800, or a loss of 8 cents per share, in the prior-year period.