"We analyzed all the sites currently being looked at and the brokers we were working with, and completely revamped that," Jundt said. "We filtered through more than 110 sites in the last 90 days, and we're seeing all kinds of sites. We're getting better terms and better locations than ever."
After opening four stores in 2007, the company anticipates opening six new restaurants in 2008 in new and existing markets, including units in Gilbert, AZ, West Palm Beach, FL, and North Scottsdale, AZ, and three additional units to be named at a later date.
"We're working hard and we'll have a great pipeline in 2009 and 2010," Jundt added
Revenue for the quarter was $19.2 million, up 39.1% from the third quarter of last year. Same-store sales increased 4.9%. Net income was $0.4 million vs. a net loss of $0.5 million in the year-ago quarter.
Kona Grill owns and operates restaurants in Scottsdale and Chandler, AZ; Denver, CO; Naples, FL; Lincolnshire and Oak Brook, IL; Carmel, IN; Troy, MI; Kansas City, MO; Omaha, NE; Las Vegas, NV; Austin, Dallas, Houston, San Antonio, and Sugar Land (Houston), TX.
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