Kona Grill Reports Second Quarter 2018 Results
KONA GRILL INC (KONA)
Last kona grill inc earnings: 11/9 04:01 pm
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Source: GlobeNewswire
- Margin Improvements from Cost-Savings Initiatives Drives Adjusted EBITDA Growth of 90%- Implements Points-Based Loyalty Program to Drive Guest Frequency SCOTTSDALE, Ariz., Aug. 09, 2018 (GLOBE NEWSWIRE) -- Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, reported financial results for the second quarter ended June 30, 2018. Second Quarter 2018 Key Items Compared to Second Quarter 2017 Restaurant operating profit*, a non-GAAP measure, improved to $6.1 million or 14.3% as a percentage of revenue compared to $5.1 million or 10.9% as a percentage of revenue.Net loss of $1.0 million, or ($0.08) per share compared to net loss of $4.3 million, or ($0.43) per share in 2017.Adjusted EBITDA improved $1.4 million to $3.0 million compared to $1.6 million in 2017.Revenues decreased 9.9% to $42.3 million.Same-store sales decreased 12.1% compared to a 5.3% decrease from the prior year. * For a reconciliation of restaurant operating profit, EBITDA and Adjusted EBITDA to the m
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