Kona Grill, Inc. Announces Stock Repurchase Authorization
Company to Release First Quarter Financial Results on April 30, 2008
Kona Grill, Inc. (Nasdaq: KONA), an American grill and sushi bar, announced today that its Board of Directors has approved a stock repurchase program under which the Company is authorized to repurchase up to 600,000 shares of its common stock. Any stock repurchases will be made in the open market. The repurchases will be made at management's discretion in the open market in compliance with applicable securities laws and other legal requirements and are subject to market conditions, share price, available cash and other factors. The plan does not obligate the Company to acquire any particular amount of common stock and the plan may be suspended or discontinued at any time.
"Kona Grill is dedicated to creating long-term value, and repurchasing our common stock represents the Board’s confidence in our Company’s future," said Marcus E. Jundt, Chief Executive Officer and President of Kona Grill.
The Company also announced that it will release first quarter 2008 financial results on Wednesday, April 30, 2008 after the market close. A conference call will follow at 5 PM ET and will be webcast live from the investor relations portion of the company's website at www.konagrill.com. Listeners may also access the call by dialing 800-762-8779 or 480-629-9041 for international callers. A replay of the call will be available until Wednesday, May 7, 2008, by dialing 800-406-7325 or 303-590-3030 for international callers; the password is 3866806.
About Kona Grill
Kona Grill owns and operates restaurants in Scottsdale and Chandler, AZ; Denver, CO; Stamford, CT; Naples, FL; Lincolnshire and Oak Brook, IL; Carmel, IN; Baton Rouge, LA; Troy, MI; Kansas City, MO; Omaha, NE; Las Vegas, NV; Austin, Dallas, Houston, San Antonio, and Sugar Land (Houston), TX. Kona Grill restaurants offer freshly prepared food, personalized service, and a warm, contemporary ambiance that creates an exceptional, yet affordable, dining experience. Kona Grill restaurants serve a diverse selection of mainstream American dishes as well as a variety of appetizers and entrees with an international influence. Each restaurant also features an extensive sushi menu and sushi bar.
Kona Grill, Inc.
Investor Relations:
Raphael Gross/Don Duffy
203-682-8200
Source: Business Wire (April 8, 2008 - 1:23 PM EDT)
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