USA: Granite City Food & Brewery lost more than predicted in Q2

Granite City Food & Brewery Ltd. reported net loss for the second quarter of $3.25 million or $0.20 per diluted share, compared to a net loss of $1.44 million or $0.09 per diluted share in the prior year quarter, RTTNews reported on July 29.

Previously, analysts forecasted loss of $0.18 per share for the quarter.

Restaurant revenues for the quarter rose by 36% to $25.09 million from $18.45 million in the year-ago quarter. Analysts had consensus revenue estimate of $25.75 million for the quarter.

Comparable restaurant sales for the quarter increase 0.5%.

31 July, 2008