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Kona Grill Q4 loss widens YOY

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Kona Grill Q4 loss widens YOY

Kona Grill Inc. said its fourth-quarter normalized net income came to a loss of 11 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 17 cents per share.

The per-share loss increased 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 $1.2 million, compared with a loss of $572,500 in the year-earlier period.

The normalized profit margin declined to negative 3.3% from negative 1.8% in the year-earlier period.

Total revenue climbed 20.6% year over year to $38.1 million from $31.6 million, and total operating expenses rose 23.5% from the prior-year period to $40.0 million from $32.4 million.

Reported net income totaled a loss of $2.0 million, or a loss of 18 cents per share, compared to a loss of $938,240, or a loss of 8 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 25 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 38 cents.

EPS was 4 cents in the prior year.

Normalized net income was a loss of $2.8 million, compared with income of $439,380 in the prior year.

Full-year total revenue rose 20.1% year over year to $143.0 million from $119.1 million, and total operating expenses increased 24.7% year over year to $147.3 million from $118.1 million.

The company said reported net income came to a loss of $4.5 million, or a loss of 40 cents per share, in the full year, compared with income of $718,410, or 7 cents per share, the prior year.