The chain plans to open one new location in each of the first three quarters of 2007 and three in the fourth quarter, according to Marcus Jundt, the chairman, president and CEO of Kona Grill. The company has already opened a new restaurant in the current quarter in Oak Brook, IL and plans to open another in Naples, FL in December. Jundt said during the conference call that, "We are very pleased with what we accomplished" in the third quarter, citing "challenging times" for the company.

The company's net loss for the quarter totaled $500,000, or eight cents per diluted share, compared with a net loss of $300,000, or nine cents per share in the third quarter last year. The figures included an expense of $300,000, or five cents per share, for stock options. The number of shares this year totaled 5.8 million, versus 3.6 million last year.

The company's revenue increased 46.1% to $13.8 million on a year-to-year basis, and same-store sales increased 4%. Although the company lost money in the quarter, Jundt commented that "solid revenue growth and same-store sales results" exceeded the company's expectations and bode well for next year. Kona forecasts it will lose between 43 cents and 48 cents per share for this year before turning the corner to profitability next year. It did not specify how much profit, saying that it "intends to issue more definitive guidance" regarding next year's profitability in its fourth quarter conference call.