CPK Raises Quarterly Earnings Forecast
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California Pizza Kitchen Inc. boosted its third-quarter earnings forecast by a penny because of better-than-expected sales at its pizza restaurants.
The Los Angeles-based restaurant chain said it expected quarterly earnings to be 33 cents to 34 cents a share, based on a 15% rise in revenue to $142.8 million and a 5.6% rise in same-restaurant sales.
California Pizza Kitchen previously had forecast earnings of 32 cents to 33 cents a share for the quarter ended Oct. 1.
Wall Street analysts on average had expected earnings of 32 cents a share and revenue of $140.7 million, according to Reuters Estimates.
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