CPK Sees 4Q Sales, Profit Ahead of Views
California Pizza Kitchen Reports Preliminary Fourth Quarter Results
• Comparable Store Sales Increase 7.7%
• Guidance Raised to $0.32 Per Fully Diluted Share
California Pizza Kitchen, Inc., (Nasdaq:CPKI) announced that revenues increased 19.8% to $115.1 million for the fourth quarter ended January 2, 2005 versus $96.1 million in the fourth quarter of 2003. The Company had an additional week in fiscal 2004 (a 53-week year versus a 52-week year) which is reflected in the fourth quarter revenues noted above.
Eighteen month comparable store sales increased approximately 7.7% compared to 4.0% in the fourth quarter a year ago. Twelve month comparable store sales increased 6.3% and 2.8% for the fourth quarter of 2004 and 2003, respectively.
On its October 21, 2004 conference call, the Company forecasted a fourth quarter comparable store sales increase of approximately 5.5% with a corresponding earnings per fully diluted share of $0.30. Based on fourth quarter comparable store sales results, however, management is now comfortable increasing its estimated earnings to $0.32 per fully diluted share.
The Company intends to release its fourth quarter and fiscal year earnings on February 3, 2005 at approximately 4:00 pm EST with a conference call to follow at approximately 5:00 pm EST. Management will specifically address first quarter guidance at that time.
• Guidance Raised to $0.32 Per Fully Diluted Share
California Pizza Kitchen, Inc., (Nasdaq:CPKI) announced that revenues increased 19.8% to $115.1 million for the fourth quarter ended January 2, 2005 versus $96.1 million in the fourth quarter of 2003. The Company had an additional week in fiscal 2004 (a 53-week year versus a 52-week year) which is reflected in the fourth quarter revenues noted above.
Eighteen month comparable store sales increased approximately 7.7% compared to 4.0% in the fourth quarter a year ago. Twelve month comparable store sales increased 6.3% and 2.8% for the fourth quarter of 2004 and 2003, respectively.
On its October 21, 2004 conference call, the Company forecasted a fourth quarter comparable store sales increase of approximately 5.5% with a corresponding earnings per fully diluted share of $0.30. Based on fourth quarter comparable store sales results, however, management is now comfortable increasing its estimated earnings to $0.32 per fully diluted share.
The Company intends to release its fourth quarter and fiscal year earnings on February 3, 2005 at approximately 4:00 pm EST with a conference call to follow at approximately 5:00 pm EST. Management will specifically address first quarter guidance at that time.
