January 25, 2008 |
The gig: Co-founders and co-chief executives of California Pizza Kitchen Inc., which serves California-style cuisine including pizzas, pastas and salads at 228 locations worldwide. The chain recorded a profit of $21 million on revenue of $554.6 million in 2006. Education: Flax received his bachelor's in business from the University of Washington and his JD and master's in law from USC.
January 16, 2008 |
Shares of California Pizza Kitchen Inc. fell 19% on Tuesday after the restaurant operator warned that its fourth-quarter profit was less than projected and the company reduced its earnings forecast for 2008. The Century City-based company, which has 228 eateries, said sales growth slowed because of "continuing challenges in the macroeconomic environment." In preliminary results, fourth-quarter profit was 16 cents to 18 cents a share, the restaurateur said. In November, it said it would earn no less than 22 cents a share.
CALIFORNIA | LOCAL
January 4, 2008 |
In the days when pizza toppings mostly consisted of pepperoni, sausage, onions and peppers, chef Ed LaDou was a pioneer, adding gourmet toppings that had never before graced the face of pizza.
December 4, 2007 |
Farallon Capital Management, a San Francisco hedge-fund manager, almost tripled its stake in California Pizza Kitchen Inc. and said it might discuss the restaurant chain's operations with management. In a Securities and Exchange Commission filing Monday, Farallon said it held 1.56 million shares, a 5.3% stake, making it the Los Angeles company's third-largest shareholder. The filing was reported after the stock market closed. California Pizza Kitchen shares fell 76 cents to $15.
November 9, 2007 |
California Pizza Kitchen Inc. reported a 79% drop in third-quarter earnings due to costs from closing four restaurants and forecast 2008 profit below Wall Street estimates. Third-quarter net income fell to $1.4 million, or 5 cents a share, from $6.7 million, or 23 cents, a year earlier. Revenue rose 13.5% to $162 million. Same-store sales, a key measure of retail health, grew 3.5%. For the fourth quarter, the Los Angeles-based company forecast earnings of 22 cents to 23 cents a share.
October 10, 2007 |
Shares of California Pizza Kitchen Inc. reached the highest level in a month after the Westchester-based company said third-quarter profit would beat its forecast on higher sales. Preliminary third-quarter net income was 23 cents to 24 cents a share, the company said. That was more than the 22 cents to 23 cents it forecast. Revenue rose about 13% to $162 million. The company expects to release its third-quarter earnings Nov. 8. CPK shares rose 90 cents, or 4.8%, to $19.64.
August 10, 2007 |
California Pizza Kitchen Inc. reported a 5% rise in second-quarter earnings but warned that results for the rest of the year would fall short of expectations because of cheese costs and weaker sales at older restaurants. The Los Angeles company's shares fell 9% after hours. CPK also said it would take a big charge in the current quarter for closing four restaurants. Second-quarter profit rose to $6.3 million, or 21 cents a share, from $6 million, or 20 cents, a year earlier. Sales rose 16.
February 16, 2007 |
Restaurant chain California Pizza Kitchen Inc. said its fourth-quarter profit rose 7%, aided by higher same-store sales. Quarterly earnings grew to $3.7 million, or 19 cents a share, from $3.5 million, or 17 cents, a year earlier. Revenue rose to $146 million from $125.4 million. Wall Street, on average, expected quarterly earnings of 16 cents a share on $144.8 million in revenue, according to an analyst poll by Thomson Financial.
January 11, 2007 |
California Pizza Kitchen Inc. said fourth-quarter sales at stores open at least a year rose 6.9%, more than expected, prompting the restaurant chain to raise its earnings estimate. The company said it now expected earnings of 15 cents to 17 cents a share for the fourth quarter, up from its previous forecast of 13 cents to 15 cents. It expects to report that revenue in the latest period rose 16% to $146 million. The Westchester-based company, which plans to report fourth-quarter earnings Feb.