Kona Grill Inc. reported on Thursday an 11.9-percent decrease in net income for the June 30-ended second quarter. Top-line results at the 23-unit Scottsdale, Ariz.-based casual-dining chain were up, driven by a 2.5-percent increase in same-store sales, but the company said the net loss included write-offs for deferred loan costs on a prior credit facility.
NET INCOME
Result: $1.6 million, or 18 cents per share% Decrease: 11.9% (from $1.8 million, or 20 cents per share)
REVENUE
Result: $25.8 million% Increase: 3.2% (from $25 million)
SAME-STORE SALES
% Increase: 2.5%Source: Company report
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Contact Ron Ruggless at [email protected].
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