Kona Grill, Inc. announced unaudited consolidated financial results for the quarter and nine months ended September 30, 2017. For the quarter, the company reported restaurants sales of $44,390,000 against $43,358,000 for the same period a year ago. The increase was primarily driven by operating week growth from six restaurants opened since August 2016 partially offset a decline in same-store sales and lost sales associated with hurricane-related closures. Loss from operations was $2,802,000 against $2,411,000 for the same period a year ago. Loss before income taxes was $3,302,000 against $2,549,000 for the same period a year ago. Net loss was $3,323,000 against $2,555,000 for the same period a year ago. Basic and diluted loss per share was $0.33 per share against $0.24 per share for the same period a year ago. EBITDA was $1,180,000 against $1,426,000 for the same period a year ago. Adjusted EBITDA was $1,218,000 against $1,426,000 for the same period a year ago.

For the nine months, the company reported restaurants sales of $136,592,000 against $125,931,000 for the same period a year ago. Loss from operations was $9,266,000 against $4,727,000 for the same period a year ago. Loss before income taxes was $10,952,000 against $4,990,000 for the same period a year ago. Net loss was $11,023,000 against $5,046,000 for the same period a year ago. Basic and diluted loss per share was $1.09 per share against $0.46 per share for the same period a year ago. EBITDA was $1,539,000 against $5,611,000 for the same period a year ago. Adjusted EBITDA was $3,433,000 against $5,611,000 for the same period a year ago.

For the year 2017, the company expects restaurant sales of $180 million and Adjusted EBITDA, which excludes lease termination costs and asset write-offs, of $4.5 million. The company reaffirms its capital expenditures, net of tenant allowances to range from $7 million to $9 million, which is primarily related to restaurant development, maintenance capital expenditures and technology initiatives.