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UPDATE 1-California Pizza Kitchen raises 2nd quarter EPS view

Wed Jul 8, 2009 4:34pm EDT

Stocks

   

* Q2 rev down 3.2 pct to $170.9 mln

* Sees Q2 EPS 24-25 cents vs earlier view 18-20 cents

* Shares rise 4 pct in late trading

SAN FRANCISCO, July 8 (Reuters) - California Pizza Kitchen Inc (CPKI.O) raised its forecast for second-quarter earnings, as the restaurant operator kept a tight control on its expenses to offset falling revenue.

The company, which has 255 restaurants around the world, expects second quarter earnings of 24 cents to 25 cents per share, up from an earlier view of 18 cents to 20 cents per share.

It also said revenue fell 3.2 percent to $170.9 million for the second quarter ended June 28.

Its shares rose to $14.30 in post-market trading after closing up 59 cents, or 4.5 percent, at $13.73 on the Nasdaq. (Reporting by Nicole Maestri; editing by Andre Grenon)



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