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California Pizza Kitchen

January 25, 2008 | Andrea Chang, Times Staff Writer
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 | From Times Wire Services
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.
January 4, 2008 | Jocelyn Y. Stewart, Times Staff Writer
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 | From Times Wire Services
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.
October 10, 2007 | From Times Wire Services
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 | From Times Wire Services
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 | From the Associated Press
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.
November 10, 2006 | From the Associated Press
California Pizza Kitchen Inc. said Thursday that its third-quarter net income grew 20% as same-store sales increased, but the Westchester-based restaurant operator lowered its fourth-quarter guidance and its shares fell in after-hours trading. Net income for the quarter ended Oct. 1 totaled $6.7 million, or 34 cents a share, compared with $5.5 million, or 28 cents, a year earlier. Revenue rose 14% to $142.8 million.
October 12, 2006 | From Reuters
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.
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