Kona Grill Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported restaurant sales of $43,296,000 compared to $36,225,000 a year ago. Loss from operations was $738,000 compared to $28,000 a year ago. Loss before income taxes was $810,000 compared to $74,000 a year ago. Net loss was $835,000 or $0.08 per basic and diluted share compared to $93,000 or $0.01 per basic and diluted share a year ago. Restaurant operating profit was $7,281,000 compared to $6,672,000 a year ago. Adjusted EBITDA increased 9.7% in the second quarter of 2016 to $4.3 million compared to $3.9 million in the same quarter last year.

For the six months, the company reported restaurant sales of $82,573,000 compared to $69,032,000 a year ago. Loss from operations was $2,316,000 compared to $920,000 a year ago. Loss before income taxes was $2,441,000 compared to $1,011,000 a year ago. Net loss was $2,491,000 or $0.22 per basic and diluted share compared to $1,018,000 or $0.09 per basic and diluted share a year ago. The company had CapEx spending, net of TI, of $18.6 million.

The company has revised its 2016 guidance to restaurant sales of $176 million, representing 23% year-over-year growth, from $179 million, compared to $143 million in 2015, but is maintaining its same-store sales growth estimate of 2.5%. The company also adjusted its 2016 forecast of Adjusted EBITDA from $15.0 million to $14.7 million, which still represents 22.5% year-over-year growth. For the year 2016, the company reaffirmed capital expenditures, net of tenant allowances, to range from $33 million to $35 million, primarily related to new restaurant development and remodeling initiatives. The company reiterate same-store sales growth of 2.5%, which was revised upward by 50 basis points.