California Pizza Kitchen Inc. reported a jump in third-quarter profit despite a sales decline because of the slump in the restaurant industry.
The Los Angeles-based chain of 256 pizza and pasta houses said its net income jumped 16.8% to $5.8 million from a year earlier. Earnings per share rose to 24 cents from 20 cents. But sales fell 5.3% to $164.8 million. Same-store sales dropped 8%.