Kona Grill, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
Kona Grill, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $42,346,000 against $46,977,000 a year ago. Same-store sales declined 12.1%, driven primarily by a double-digit decrease in customer traffic. Loss from operations was $363,000 against $3,422,000 a year ago. Loss before income taxes was $987,000 against $4,302,000 a year ago. Net loss was $1,000,000 or $0.08 per share basic and diluted against $4,327,000 or $0.43 per share basic and diluted a year ago. EBITDA was $2,996,000 against LBITDA of $257,000 a year ago. Adjusted EBITDA was $3,044,000 against $1,599,000 a year ago. Restaurant operating profit was $6,075,000 against $5,144,000 a year ago.
For the six months, the company reported revenue of $84,363,000 against $92,202,000 a year ago. Loss from operations was $2,210,000 against $6,464,000 a year ago. Loss before income taxes was $3,475,000 against $7,650,000 a year ago. Net loss was $3,460,000 or $0.31 per share basic and diluted against $7,700,000 or $0.76 per share basic and diluted a year ago. EBITDA was $4,474,000 against $359,000 a year ago. Adjusted EBITDA was $4,559,000 against $2,215,000 a year ago. Restaurant operating profit was $11,060,000 against $9,728,000 a year ago.