California Pizza Kitchen up on preliminary Q3 results
California Pizza Kitchen, Inc. (Nasdaq: CPKI) shares are up after the casual restaurant operator reported preliminary third-quarter revenue of $162 million, below Wall Street estimates of $163.5 million but 13.5% above $142.8 million during the same period of 2006. The company said it expects earnings in the range of $0.04 to $0.05 per share.
California Pizza Kitchen said $0.19 per share will be charged during the quarter, due to store closures of up to four restaurants. During the third quarter, the company opened six new restaurants. Analysts expect earnings of $0.22 per share.
The Los Angeles-based firm expects to release third quarter results on Nov. 8.
In morning trading, CPKI shares are up 6.08%, or $1.14, at $19.88. Over the last 52 weeks, shares have ranged from $17.36 to $25.23.
