Shares of revolving sushi bar chain Kura Sushi USA Inc. (Nasdaq: KRUS) were about flat in midday trading Wednesday, a day after the company reported results for its fiscal second quarter.
The Irvine company operates 31 restaurants in eight states and is part of Japan-based Kura Sushi Inc. It had a recent market cap of $264 million.
The results for the company’s fiscal second quarter ended February 28 come as Kura restaurant operations slowly return to normal, with all of its locations currently open. Those doors are offering indoor dining with capacities ranging from 25% to 100%, based on local restrictions.
The company reported total sales of $9.1 million for the February quarter, down 53% from the year ago period and beating Zacks Equity Research consensus estimates of $8.2 million.
Kura reported an adjusted net loss of $6.5 million, missing analyst expectations of a $6.3 million loss.