Granite City Food & Brewery Ltd. reported consolidated earnings results for the fourth quarter and full year ended December 27, 2011. For the quarter, the company reported restaurant revenue of $23,150,305 compared to $21,600,407 a year ago. Operating loss was $1,952,892 compared to $626,558 a year ago. Net loss available to common shareholders was $3,188,085 or $0.68 basic per share compared to $1,595,507 or $0.22 basic per share a year ago. On non GAAP basis, LBITDA was $280,060 compared to EBITDA of $983,685 a year ago. Operating loss was $1,952,892 compared to $626,558 a year ago. Net loss was $2,985,585 compared to $1,595,507 a year ago. Net loss is inclusive of approximately $1.3 million of pre-opening costs and one-time costs related to the Cadillac Ranch acquisition and the CDP transaction. For the full year, the company reported restaurant revenue of $93,222,655 compared to $89,330,387 a year ago. Operating loss was $746,975 compared to $975,306 a year ago. Net loss available to common shareholders was $11,581,289 or $2.05 basic per share compared to $4,524,762 or $0.61 basic per share a year ago. On non GAAP basis, restaurant revenue was $23,150,305 compared to $21,600,407 a year ago. EBITDA was $5,260,586 compared to $5,681,154 a year ago. Operating loss was $746,975 compared to $975,306 a year ago. Net loss was $4,599,531 compared to $4,524,762 a year ago. Net loss is inclusive of approximately $1.3 million of pre-opening costs and one-time costs related to the Cadillac Ranch acquisition and the CDP transaction. For the year 2012, the company expects net sales to be between $115 million and $125 million. Adjusted EBITDA is expected to be between $7 million and $8 million.