Kona Grill (KONA) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Entity Registrant Name	KONA GRILL INC
Entity Central Index Key	1265572
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		11,266,836
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$31,998,000	$36,578,000
Short-term investments	178,000	178,000
Receivables	925,000	387,000
Other current assets	1,654,000	2,122,000
Total current assets	34,755,000	39,265,000
Other assets	1,214,000	1,171,000
Property, plant, and equipment, net	60,125,000	53,934,000
Total assets	96,094,000	94,370,000
Current liabilities:
Accounts payable	3,531,000	3,205,000
Accrued expenses	9,762,000	9,042,000
Total current liabilities	13,293,000	12,247,000
Deferred rent	17,542,000	16,697,000
Total liabilities	30,835,000	28,944,000
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.01 par value, 2,000,000 shares authorized, none issued	0	0
Common stock, $0.01 par value, 15,000,000 shares authorized, 11,383,036 shares issued and 11,266,836 shares outstanding at March 31, 2015; 11,325,338 shares issued and 11,209,138 shares outstanding at December 31, 2014	114,000	113,000
Additional paid-in capital	97,179,000	96,422,000
Accumulated deficit	-31,034,000	-30,109,000
Treasury stock, at cost, 116,200 shares at March 31, 2015 and December 31, 2014	-1,000,000	-1,000,000
Total stockholders’ equity	65,259,000	65,426,000
Total liabilities and stockholders’ equity	$96,094,000	$94,370,000

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	11,383,036	11,325,338
Common stock, shares outstanding (in shares)	11,266,836	11,325,338
Treasury stock, shares (in shares)	116,200	116,200

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) (USD $)	3 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Restaurant sales	$32,807,000	$27,616,000
Costs and expenses:
Cost of sales	9,062,000	7,510,000
Labor	11,388,000	9,426,000
Occupancy	2,357,000	1,843,000
Restaurant operating expenses	4,608,000	3,848,000
General and administrative	3,283,000	2,576,000
Preopening expense	817,000	390,000
Depreciation and amortization	2,184,000	1,687,000
Total costs and expenses	33,699,000	27,280,000
(Loss) income from operations	-892,000	336,000
Interest expense, net	45,000	60,000
(Loss) income before income taxes	-937,000	276,000
Income tax (benefit) expense	-12,000	25,000
Net (loss) income	-925,000	251,000
Net (loss) income per share:
Basic (in dollars per share)	($0.08)	$0.03
Diluted (in dollars per share)	($0.08)	$0.03
Denominator:
Basic (in shares)	11,235	8,609
Diluted (in shares)	11,235	8,882
Comprehensive (loss) income	($925,000)	$251,000

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net (loss) income	($925,000)	$251,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	2,184,000	1,687,000
Share-based Compensation	301,000	201,000
Amortization of deferred financing costs	20,000	26,000
Change in operating assets and liabilities:
Receivables	-538,000	747,000
Other current assets	468,000	167,000
Accounts payable	-372,000	-243,000
Accrued expenses	-396,000	150,000
Deferred rent	844,000	768,000
Net cash provided by operating activities	1,586,000	3,754,000
Investing activities
Purchase of property and equipment	-6,561,000	-4,697,000
Change in other assets	-63,000	-37,000
Net cash used in investing activities	-6,624,000	-4,734,000
Financing activities
Proceeds from issuance of common stock under the Employee Stock Purchase Plan and exercise of stock options	458,000	44,000
Net cash provided by financing activities	458,000	44,000
Net change in cash and cash equivalents	-4,580,000	-936,000
Cash and cash equivalents at the beginning of the period	36,578,000	5,881,000
Cash and cash equivalents at the end of the period	31,998,000	4,945,000
Supplemental disclosure of cash flow information
Cash paid for interest, net of capitalized interest	25,000	14,000
Cash paid for income taxes, net of refunds	-27,000	43,000
Noncash investing activities
Accounts payable and accruals related to property and equipment	$3,873,000	$1,178,000

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1
	.
	Basis of Presentation
	Kona Grill, Inc., including its wholly-owned subsidiaries, (referred to herein as the “Company” or “we,” “us,” and “our”) develops, owns and operates upscale casual dining restaurants under the name “Kona Grill.” Our restaurants feature a diverse selection of American favorites and award-winning sushi that are prepared fresh daily. As of March 31, 2015, we owned and operated
	31 restaurants in 19 states and Puerto Rico.
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	The consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and notes required by U.S. generally accepted accounting principles
	for complete financial statements. Accordingly, these financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014.
	The Company has evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements through the day the financial statements are issued.
	In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This guidance requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying value of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by this new guidance.
	We do not expect the adoption of this guidance, effective for us in the first quarter of 2016, to have a material impact on our consolidated financial statements, although it will require retrospective application reducing the amount of debt reflected on our historical consolidated balance sheets
	.

Note_2_Fair_Value_Measurements

Note 2 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	2
	.
	Fair Value Measurements
	The carrying value for certain of our financial instruments, including cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short-term nature. Our investments represent certificates of deposit and are considered available-for-sale securities that are valued using market observable inputs (Level 2).

Note_3_Net_Loss_Income_Per_Sha

Note 3 - Net (Loss) Income Per Share	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	3.     Net (Loss) Income Per Share
	Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted net income per share includes the dilutive effect of potential stock option exercises, calculated using the treasury stock method.
	The following table sets forth the computation of basic and diluted net income (loss) per share:
		Three Months Ended
		March 31,
		2015			2014
	(In thousands, except per share data)
	Numerator:
	Net (loss) income	$	(925	)	$	251
	Denominator:
	Weighted average shares — Basic		11,235			8,609
	Effect of dilutive stock options		—			273
	Weighted average shares — Diluted		11,235			8,882
	Net (loss) income per share:
	Basic	$	(0.08	)	$	0.03
	Diluted	$	(0.08	)	$	0.03
	For the three months ended March 31, 2015 and 2014, there were 581,000 and 296,000 stock options outstanding, respectively, that were not included in the dilutive earnings per share calculation because the effect would have been anti-dilutive.

Note_4_Property_and_Equipment

Note 4 - Property and Equipment	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4.    Property and Equipment
	Property and equipment consisted of the following (in thousands):
		March 31,			December 31,
		2015			2014
	Leasehold improvements	$	72,702		$	69,643
	Equipment		20,459			19,378
	Furniture and fixtures		7,663			6,950
			100,824			95,971
	Less accumulated depreciation and amortization		(49,057	)		(46,860	)
			51,767			49,111
	Construction in progress		8,358			4,823
	Total property and equipment, net	$	60,125		$	53,934

Note_5_Accrued_Expenses

Note 5 - Accrued Expenses	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	5. Accrued Expenses
	Accrued expenses consisted of the following (in thousands):
		March 31,		December 31,
		2015		20
				14
	Accrued payroll and benefits	$	3,349	$	3,280
	Accrued construction and remodel costs		2,182		1,067
	-1
	Gift card liability		1,600		1,961
	Sales taxes		1,288		1,354
	Accrued occupancy		498		399
	Other		845		981
		$	9,762	$	9,042
	(1)
	Balance is attributable to property additions for our new restaurants and remodels.

Note_6_Debt_and_Credit_Agreeme

Note 6 - Debt and Credit Agreements	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	6.     Debt and Credit Agreements
	On April 19, 2013, we entered into a Credit Agreement for a $20 million revolving line of credit maturing on April 19, 2017 with KeyBank National Association (“KeyBank”) and Stearns Bank National Association (“Stearns Bank”). On November 7, 2014, we entered into an Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with KeyBank to (i) increase the credit facility from $20 million to $35 million, and (ii) extend the maturity date of the credit facility to November 7, 2019. The credit facility is secured by our personal property and assets. Certain of our wholly owned subsidiaries have also guaranteed the credit facility. The entire $35 million under the credit facility was available at March 31, 2015.
	The interest rate under the Amended Credit Agreement is KeyBank’s prime rate or LIBOR, at our option, plus an applicable margin depending on our leverage ratio. The LIBOR margins range from 1.5% to 2.5% and the base rate margins range from 0.5% to 1.5%. Payments on the credit facility are interest only, payable quarterly with respect to each base rate loan and at varying times with respect to LIBOR rate loans, with outstanding principal and interest due at maturity. Prepayment is permitted at any time without penalty, subject to certain restrictions on the order of repayment or prepayment. We are obligated to pay a commitment fee at an annual rate of 0.175% to 0.350%, depending on our leverage ratio, times the unused total revolving commitment of the credit facility based on the average daily amount outstanding under the credit facility for the previous quarter. The commitment fee is payable quarterly in arrears.
	During the three months ended March 31, 2015 and 2014, we incurred gross interest expense of $45,000 and $61,000, consisting primarily of loan fee amortization of $20,000 and $26,000, respectively, and commitment fees of $22,000 and $21,000, respectively. We capitalized none and $16,000 of interest costs during the three months ended March 31, 2015 and 2014, respectively.
	Unamortized loan fees of $383,000 at March 31, 2015 are being amortized over the life of the credit facility and included in other assets in the consolidated balance sheet.
	The credit facility also requires us to comply with certain covenants, including (a) a fixed charge coverage ratio of not less than 1.50 and (b) a maximum leverage ratio of 5.0 to 1.0 through March 31, 2016 and 4.75 to 1.0 from April 1, 2016 through the maturity date. We were in compliance with all covenants at March 31, 2015.

Note_7_Income_Taxes

Note 7 - Income Taxes	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7.     Income Taxes
	We recorded an income tax benefit of $12,000 and income tax expense of $25,000 during the three months ended March 31, 2015 and 2014, respectively. The income tax benefit for the three months ended March 31, 2015 relates to refunds of $27,000 primarily associated with prior year federal income tax partially offset by state income tax expense of $15,000 for which no net operating loss carryforwards or other credits exist. The income tax expense for the three months ended March 31, 2014 consists of certain federal and state tax expenses for which no federal or state net operating losses or other credits exist.
	At March 31, 2015, we had approximately $17 million in deferred tax assets primarily related to state net operating loss carryforwards and federal business tax credit carryforwards. We have a full valuation allowance for these carryforwards due to the uncertainty surrounding their future utilization. The realization of our deferred tax assets ultimately depends on the existence of sufficient taxable income in the appropriate taxing jurisdictions in future periods. We have analyzed, and will continue to analyze, the positive and negative evidence to support our conclusion regarding the appropriate amount of our valuation allowance. The valuation allowance could be reduced in a subsequent period if there is sufficient evidence to support a conclusion that it is more likely than not that the state net operating loss carryforwards and/or the federal business tax credit carryforwards will be realized. Future changes in our valuation allowance could have a material effect on our results of operations in the period recorded.

Note_8_Stockbased_Compensation

Note 8 - Stock-based Compensation	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	8.
	Stock-Based Compensation
	The fair value of stock options granted during the three months ended March 31, 2015 and 2014 was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:
		Three Months Ended March 31,
		2015			20
					14
	Expected volatility		40.7	%		36.9	%
	Risk-free interest rate		0.9	%		0.7	%
	Expected option life (in years)		3			2.9
	Dividend yield		0	%		0	%
	Weighted average fair value per option granted	$	6.74		$	4.13
	The following table summarizes our stock option activity for the three months ended March 31, 2015:
		Options			Weighted			Weighted Average		Aggregate Intrinsic Value
					Average Exercise Price			Remaining Contractual Term
	Outstanding options at December 31, 2014		740,250		$	10.66
	Granted		362,868			23.49
	Forfeited		(4,650	)		20.87
	Exercised		(57,275	)		7.8
	Outstanding options at March 31, 2015		1,041,193		$	15.24			3.6 years	$	13,719,000
	Exercisable at March 31, 2015		317,900		$	9.89			2.6 years	$	5,892,000
	We recognized stock-based compensation expense of $301,000 and $201,000 during the three months ended March 31, 2015 and 2014, respectively. As of March 31, 2015, there was $2,961,000 of unrecognized stock-based compensation expense related to unvested stock-based compensation awards, which is expected to be recognized over a weighted average period of 2.9 years.
	The total shares of common stock reserved for issuance totaled 2,200,000, of which 7,636 shares were available for grant as of March 31, 2015.

Note_9_Stock_Purchase_and_Reti

Note 9 - Stock Purchase and Retirement Program	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9.     Stock Purchase and Retirement Program
	In May 2012, our Board of Directors authorized a stock repurchase and retirement program of up to $5,000,000 of our outstanding common stock. The authorization of the program does not have an expiration date and it does not require us to purchase a specific dollar amount of shares. This authorization may be modified, suspended or terminated at any time. The timing and number of shares purchased pursuant to the share purchase authorization are subject to a number of factors, including current market conditions, legal constraints and available cash.
	As of March 31, 2015, we repurchased and retired $3.2 million, or 387,109 shares under the 2012 authorization. We did not repurchase any shares during 2014 or the first quarter of 2015.

Note_10_Commitments_and_Contin

Note 10 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	10.  Commitments and Contingencies
	We are engaged in various legal actions, which arise in the ordinary course of our business. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of our management, based upon the information available at this time, that the expected outcome of these matters, individually or in the aggregate, will not have a material adverse effect on the results of operations or financial condition of our company.
	On February 10, 2014, Kona Grill Macadamia, Inc., a wholly-owned subsidiary of the Company (“Macadamia”), filed a Motion to Set Aside Default Judgment in the Circuit Court of Jackson County, Kansas City Missouri relating to a default judgment of approximately $3.5 million entered on December 18, 2013 against Macadamia. The underlying personal injury claim, Frank Neal Goss v. Kona Macadamia, Inc. and Anthony DeAngelo, revolves around a fight that two alleged restaurant patrons had outside of the Company’s Kansas City restaurant on March 1, 2011, which is claimed to have resulted in physical injury to the plaintiff. Following the hearing held on April 3, 2014, the Circuit Court issued a written order on April 7, 2014 granting Macadamia’s Motion to Set Aside Default Judgment. The underlying personal injury case is proceeding in the Circuit Court, and on April 16, 2014, Macadamia filed its answer to the plaintiff’s petition. On August 8, 2014, Macadamia filed its responses to the plaintiff’s first interrogatories and request for documents. On August 18, 2014, the plaintiff’s counsel requested additional time to serve the lawsuit on Mr. DeAngelo. To date, there has been no return of service on Mr. DeAngelo filed. The court established a deadline of August 17, 2015 for summary judgment motions and scheduled the matter for trial in December 2015. We believe that we have a strong defense to the claim asserted by the plaintiff and insurance coverage for the claim.

Note_11_Subsequent_Events

Note 11 - Subsequent Events	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	11.  Subsequent Events
	On April 30, 2015, our shareholders approved an amendment to our certificate of incorporation to increase the number of authorized shares of common stock from 15 million to 30 million. Our shareholders also approved an increase of 1.5 million common shares reserved for issuance under our 2012 Stock Award Plan.

Note_3_Net_Loss_Income_Per_Sha1

Note 3 - Net (Loss) Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		Three Months Ended
		March 31,
		2015			2014
	(In thousands, except per share data)
	Numerator:
	Net (loss) income	$	(925	)	$	251
	Denominator:
	Weighted average shares — Basic		11,235			8,609
	Effect of dilutive stock options		—			273
	Weighted average shares — Diluted		11,235			8,882
	Net (loss) income per share:
	Basic	$	(0.08	)	$	0.03
	Diluted	$	(0.08	)	$	0.03

Note_4_Property_and_Equipment_

Note 4 - Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]		March 31,			December 31,
		2015			2014
	Leasehold improvements	$	72,702		$	69,643
	Equipment		20,459			19,378
	Furniture and fixtures		7,663			6,950
			100,824			95,971
	Less accumulated depreciation and amortization		(49,057	)		(46,860	)
			51,767			49,111
	Construction in progress		8,358			4,823
	Total property and equipment, net	$	60,125		$	53,934

Note_5_Accrued_Expenses_Tables

Note 5 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2015
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]		March 31,		December 31,
		2015		20
				14
	Accrued payroll and benefits	$	3,349	$	3,280
	Accrued construction and remodel costs		2,182		1,067
	-1
	Gift card liability		1,600		1,961
	Sales taxes		1,288		1,354
	Accrued occupancy		498		399
	Other		845		981
		$	9,762	$	9,042

Note_8_Stockbased_Compensation1

Note 8 - Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2015
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]		Three Months Ended March 31,
		2015			20
					14
	Expected volatility		40.7	%		36.9	%
	Risk-free interest rate		0.9	%		0.7	%
	Expected option life (in years)		3			2.9
	Dividend yield		0	%		0	%
	Weighted average fair value per option granted	$	6.74		$	4.13
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]		Options			Weighted			Weighted Average		Aggregate Intrinsic Value
					Average Exercise Price			Remaining Contractual Term
	Outstanding options at December 31, 2014		740,250		$	10.66
	Granted		362,868			23.49
	Forfeited		(4,650	)		20.87
	Exercised		(57,275	)		7.8
	Outstanding options at March 31, 2015		1,041,193		$	15.24			3.6 years	$	13,719,000
	Exercisable at March 31, 2015		317,900		$	9.89			2.6 years	$	5,892,000

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation (Details Textual)	Mar. 31, 2015
Number of Restaurants	31
Number of States in which Entity Operates	19

Note_3_Net_Loss_Income_Per_Sha2

Note 3 - Net (Loss) Income Per Share (Details Textual)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	581,000	296,000

Note_3_Net_Income_Per_Share_Ba

Note 3 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net (loss) income	($925)	$251
Denominator:
Weighted average shares b Basic (in shares)	11,235	8,609
Effect of dilutive stock options (in shares)		273
Weighted average shares b Diluted (in shares)	11,235	8,882
Net (loss) income per share:
Basic (in dollars per share)	($0.08)	$0.03
Diluted (in dollars per share)	($0.08)	$0.03

Note_4_Property_and_Equipment_1

Note 4 - Property and Equipment - Property and Equipment (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Property, plant, and equipment, gross	$100,824	$95,971
Less accumulated depreciation and amortization	-49,057	-46,860
Property, plant, and equipment, net	60,125	53,934
Leasehold Improvements [Member]
Property, plant, and equipment, gross	72,702	69,643
Equipment [Member]
Property, plant, and equipment, gross	20,459	19,378
Furniture and Fixtures [Member]
Property, plant, and equipment, gross	7,663	6,950
Excluding Construction In Progress [Member]
Property, plant, and equipment, net	51,767	49,111
Construction in Progress [Member]
Property, plant, and equipment, gross	$8,358	$4,823

Note_5_Accrued_Expenses_Accrue

Note 5 - Accrued Expenses - Accrued Expenses (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified
Accrued payroll and benefits	$3,349		$3,280
Accrued construction and remodel costs	2,182	[1]	1,067	[1]
Gift card liability	1,600		1,961
Sales taxes	1,288		1,354
Accrued occupancy	498		399
Other	845		981
	$9,762		$9,042
[1]	Balance is attributable to property additions for our new restaurants and remodels.

Note_6_Debt_and_Credit_Agreeme1

Note 6 - Debt and Credit Agreements (Details Textual) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Nov. 07, 2014	Apr. 19, 2013
Interest Costs Capitalized	$0	$16,000
Interest Expense, Debt	45,000	61,000
Amortization of deferred financing costs	20,000	26,000
Line of Credit Facility, Commitment Fee Amount	22,000	21,000
Unamortized Debt Issuance Expense	383,000
Revolving Credit Facility [Member] | Key Bank [Member]
Line of Credit Facility, Expiration Date			7-Nov-19	19-Apr-17
Line of Credit Facility, Maximum Borrowing Capacity			$35,000,000	$20,000,000
Revolving Credit Facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | Minimum [Member] | Through March 31, 2016 [Member]
Maximum Leverage Ratio	1
Revolving Credit Facility [Member] | Minimum [Member] | From April 1, 2016 Through the Maturity Date [Member]
Maximum Leverage Ratio	1
Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.18%
Revolving Credit Facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Credit Facility [Member] | Maximum [Member] | Through March 31, 2016 [Member]
Maximum Leverage Ratio	5
Revolving Credit Facility [Member] | Maximum [Member] | From April 1, 2016 Through the Maturity Date [Member]
Maximum Leverage Ratio	4.75
Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.35%
Revolving Credit Facility [Member]
Fixed Charge Coverage Ratio Minimum	1.5

Note_7_Income_Taxes_Details_Te

Note 7 - Income Taxes (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Expense (Benefit)	($12,000)	$25,000
Deferred Tax Assets, Gross	17,000,000
Domestic Tax Authority [Member]
Income Tax Expense (Benefit)	-27,000
State and Local Jurisdiction [Member]
Income Tax Expense (Benefit)	$15,000

Note_8_Stockbased_Compensation2

Note 8 - Stock-based Compensation (Details Textual) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation	$301,000	$201,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$2,961,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 328 days
Common Stock, Capital Shares Reserved for Future Issuance	2,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	7,636

Note_8_Stockbased_Compensation3

Note 8 - Stock-based Compensation - Stock Options Fair Value Assumptions (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
	Rate	Rate
Expected volatility	40.70%	36.90%
Risk-free interest rate	0.90%	0.70%
Expected option life (in years)	3 years	2 years 328 days
Dividend yield	0.00%	0.00%
Weighted average fair value per option granted (in dollars per share)	$6.74	$4.13

Note_8_Stockbased_Compensation4

Note 8 - Stock-based Compensation - Stock Option Activity (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Outstanding options at December 31, 2014 (in shares)	740,250
Outstanding options at December 31, 2014 (in dollars per share)	$10.66
Granted (in shares)	362,868
Granted (in dollars per share)	$23.49
Forfeited (in shares)	-4,650
Forfeited (in dollars per share)	$20.87
Exercised (in shares)	-57,275
Exercised (in dollars per share)	$7.80
Outstanding options at March 31, 2015 (in shares)	1,041,193
Outstanding options at March 31, 2015 (in dollars per share)	$15.24
Outstanding options at March 31, 2015	3 years 219 days
Outstanding options at March 31, 2015	$13,719,000
Exercisable at March 31, 2015 (in shares)	317,900
Exercisable at March 31, 2015 (in dollars per share)	$9.89
Exercisable at March 31, 2015	2 years 219 days
Exercisable at March 31, 2015	$5,892,000

Note_9_Stock_Purchase_and_Reti1

Note 9 - Stock Purchase and Retirement Program (Details Textual) (USD $)	3 Months Ended	12 Months Ended	35 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	31-May-12
Stock Repurchased and Retired During Period, Shares	0	0	387,109
Stock Repurchase Program, Authorized Amount				$5,000,000
Stock Repurchased and Retired During Period, Value			$3,200,000

Note_10_Commitments_and_Contin1

Note 10 - Commitments and Contingencies (Details Textual) (USD $)	Feb. 10, 2014
In Millions, unless otherwise specified
Default Judgement Set Aside Amount	$3.50

Note_11_Subsequent_Events_Deta

Note 11 - Subsequent Events (Details Textual)	1 Months Ended
	Apr. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Apr. 29, 2015
Common Stock, Shares Authorized		15,000,000	15,000,000
Subsequent Event [Member]
Common Stock, Shares Authorized	30,000,000			15,000,000
Common Stock, Increase (Decrease) in Capital Shares Reserved for Future Issuance	1,500,000