Kona Grill Releases Preliminary First Quarter 2009 Results

Kona Grill, Inc. (Nasdaq: KONA), an American grill and sushi bar, today released preliminary results for its first quarter ended March 31, 2009.

For the first quarter of 2009, preliminary restaurant sales increased 7.5% to $19.5 million from $18.1 million a year-ago. The growth in restaurant sales reflects additional revenues from four restaurants opened since June 2008. Comparable restaurant sales decreased approximately 9.6% compared to a 2.4% decrease in the prior year period. The Company had previously guided to restaurant sales of $18.3 million to $19.3 million for the three-month period.

Based upon preliminary first quarter 2009 restaurant sales, the Company now expects a preliminary loss of ($1.1) million to ($1.3) million, or ($0.17) to ($0.21) per share. This compares to previous guidance of a net loss of ($1.4) million to ($1.9) million, or ($0.22) to ($0.29) per share.

'Our updated guidance reflects higher sales during the first quarter than we had originally forecasted. Additionally, we were able to successfully control operating costs, which translated into additional bottom line savings. These cost control initiatives provide us with opportunities to improve our margins once sales stabilize,' said Marcus E. Jundt, Chief Executive Officer and President of Kona Grill.

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