Kona Grill Inc fka KONA

[Superfly15]

This "junk" appears to be growing into its P/E just fine.

Kona Grill Reports First Quarter 2012 Financial Results
Today : Monday 30 April 2012


Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, reported results for its first quarter ended March 31, 2012.
First Quarter 2012 Highlights vs. Year-Ago Quarter:

Restaurant sales increased 8.6% to $24.2 million;
Same-store sales increased 8.7%;

Restaurant operating profit margin increased 480 basis points to 19.9%; and

Net income of $1.2 million or $0.13 per share, compared to a net loss of $92,000 or $(0.01) per share.

"The momentum we gained last year rolled into the first quarter of 2012," said Berke Bakay, president and CEO of Kona Grill. "The 8.7% same-store sales growth during the quarter represents our sixth consecutive quarter of positive same-store sales. More importantly, we were able to leverage these sales to drive a 19.9% operating margin, which we believe is in the top tier of our peer group."

First Quarter 2012 Financial Results

Restaurant sales in the first quarter of 2012 increased 8.6% to $24.2 million, compared to $22.2 million in the first quarter of 2011. The sales improvement reflects an 8.7% increase in same-store sales, driven by 6.4% growth in guest traffic and higher average guest check. The 8.7% increase in same-store sales compares to a 7.8% increase in the fourth quarter of 2011 and a 7.6% increase in the first quarter a year ago.

Net income in the first quarter of 2012 was $1.2 million or $0.13 per share, compared to a net loss of $92,000 or $(0.01) per share in the year-ago quarter.

Financial Guidance

For the second quarter of 2012, the company expects restaurant sales of $24.7 million compared to $24.5 million for the second quarter of 2011. The company also expects net income of $1.25 million, or $0.14 per share, compared to net income of $0.8 million, or $0.08 per share for the second quarter of 2011.