Kona Grill Raises Third Quarter 2011 Guidance

Kona Grill, Inc. (NASDAQ: KONA) has increased its revenue and net income guidance for the third quarter ending September 30, 2011.

As the result of strong sales growth during the quarter, the company has increased its third quarter revenue guidance and now expects revenue to range between $24.1 million and $24.2 million, which is a $500,000 increase on the high end of its guidance previously revised on August 1, 2011. The updated guidance anticipates same-store sales growth of approximately 9% over the same year-ago quarter, as compared to 6% growth previously forecasted.

Accordingly, the company increased its net income guidance to $0.5 million to $0.6 million, or $0.05 to $0.06 per share, from the previous guidance of $0.1 million to $0.3 million, or $0.01 to $0.03 per share.

"Our restaurants continue to gain market share as evidenced by our strong same-store sales," said Michael Nahkunst, interim president and CEO of Kona Grill. "Our revised outlook for stronger earnings in the third quarter firmly supports our forecast of achieving profitability for the year."

Kona Grill (NASDAQ: KONA) features American favorites with an international influence and award-winning sushi in a casually elegant atmosphere. Kona Grill owns and operates 24 restaurants, guided by a passion for quality food and personal service. Restaurants are currently located in 16 states: Arizona (Chandler, Gilbert, Phoenix, Scottsdale); Colorado (Denver); Connecticut (Stamford); Florida (Tampa); Illinois (Lincolnshire, Oak Brook); Indiana (Carmel); Louisiana (Baton Rouge); Maryland (Baltimore); Michigan (Troy); Minnesota (Eden Prairie); Missouri (Kansas City); Nebraska (Omaha); New Jersey (Woodbridge); Nevada (Las Vegas); Texas (Austin, Dallas, Houston, San Antonio, Sugar Land); Virginia (Richmond). 


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