NEW YORK (Thomson Financial) - Jamba Inc. late Tuesday swung to a first
quarter net loss of $6.4 million, or 12 cents a share, from a profit of $11.9
million, or 20 cents a share in the year-earlier period.
Analysts polled by Thomson Reuters had, on average, expected a loss of 12
cents a share.
Revenue rose 14% to $101.6 million from $89.4 million a year earlier, versus
the mean estimate of $101.3 million.
Jamba said it has slowed new store growth to focus on improving its existing
stores' performance, and has cut headcount, among other cost-cutting measures,
in an effort to cut $7 million to $8 million in costs.
Shares of Jamba closed the regular session at $2.50, up 14%.
Michelle Rama
mr/gm
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