CPK raises estimate for fourth-quarter profit
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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. 15, said it added nine full-service restaurants in the latest quarter.
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