Kona Grill Reports Fourth Quarter Restaurant Sales Up 64

Restaurant operating profit margin was 16.2%, which included a 180 basis point impact from new restaurant inefficiencies and the company's remodeling initiatives, compared to 17.1%

Kona Grill, Inc. (NASDAQ: KONA), an American grill and sushi bar, reported financial results for its fourth quarter and full year ended December 31, 2013.

Fourth Quarter 2013 Highlights vs. Year-Ago Quarter

• Restaurant sales increased 6.4% to $24.5 million



• Same-store sales increased 3.5%, excluding the effect of the company's remodeling initiatives



• Restaurant operating profit margin was 16.2%, which included a 180 basis point impact from new restaurant inefficiencies and the company's remodeling initiatives, compared to 17.1%



• Net loss was $509,000, or $(0.06) per share, which included approximately $0.20 per share of costs due to remodeling initiatives and new restaurant openings, versus net income of $851,000, or $0.10 per share



• Opened two new restaurants in Boise, ID and The Woodlands, TX