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Kona Grill Q3 loss widens 76.6% YOY

Kona Grill Inc. said its normalized net income for the third quarter came to a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 15 cents per share.

The per-share loss increased 89.7% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $901,880 in the prior-year period.

The normalized profit margin dropped to negative 3.7% from negative 2.5% in the year-earlier period.

Total revenue grew 20.7% on an annual basis to $43.4 million from $35.9 million, and total operating expenses increased 22.6% from the prior-year period to $45.8 million from $37.3 million.

Reported net income came to a loss of $2.5 million, or a loss of 24 cents per share, compared to a loss of $1.5 million, or a loss of 13 cents per share, in the year-earlier period.