* Sees Q2 EPS $0.15-$0.17 vs est $0.13
* Q2 sales down 5 pct, but beat Street view
* Q2 comp sales slip 5.9 pct
* Shares up 5 pct before the bell (Adds details, background on Thank You Card promotion, updates share movement)
July 13 California Pizza Kitchen Inc CPKI.O, which has put itself up for sale, raised its second-quarter earnings view, and reported quarterly sales that beat market expectations, sending its shares up 5 percent in trading before the bell.
The company, which offers roasted artichoke and spinach pizza and other offbeat menu items, revised its earnings view for a second time to 15 cents to 17 cents a share, up from an earlier forecast of 10 cents to 15 cents a share. Analysts were expecting the company to report earnings of 13 cents a share during the quarter, according to Thomson Reuters I/B/E/S. [ID:nASA00IL0]
In June, the company cut its second-quarter profit forecast after the absence of its popular Thank You Card promotion contributed to weaker-than-expected sales. [ID:nN21231561]
The promotion gave consumers prizes ranging from discounts off a meal, to $50,000.
On Tuesday, the company said it was re-launching its Thank You Card Program on July 28, and will include a cash prize of $100,000.
It also reported a 5 percent drop in second-quarter sales to $163.1 million, but surpassed analysts' expectation of sales of $159.3 million.
California Pizza Kitchen also posted a 5.9 percent drop in comparable restaurant sales, slightly below its forecast of a 6 percent to 7 percent dip.
It added that same-restaurant sales through July 11 fell only 0.6 percent.
The 25-year-old restaurant chain in April said it had hired investment bank Moelis & Company as its exclusive financial adviser to consider changes in its capital structure, a possible sale or other business combination.
Shares of the company were up at $15.50 in pre-market trade on Tuesday. They closed at $14.72 Monday on Nasdaq. (Reporting by Shradhha Sharma in Bangalore; Editing by Jarshad Kakkrakandy)