SAN FRANCISCO (Thomson Financial) - Jamba Inc. late Tuesday reported it
swung to a third-quarter net profit of $22.4 million, or 40 cents a share, from
a net loss of $19.4 million, or 92 cents a share, during the year earlier.
The latest results include a pretax non-cash gain of $23.3 million, or 42
cents a share, related to the change in the fair value of derivative
liabilities.
There were 55.5 million shares outstanding in the most recent quarter
compared with 21 million last year.
The Emeryville, Calif.-based company, parent of Jamba Juice Co., posted
total revenue of $83.6 million versus $67.4 million. The growth in revenue was
primarily attributable to revenue from new stores, the company said.
The mean estimate of analysts polled by Thomson Financial was for a
per-share loss of a penny on revenue of $82.2 million.
Same-store sales rose 3.8% at company-owned stores for the quarter while
system-wide same-store sales increased 3.3%, the company said. Jamba also said
it expects to end the year with 95 to 100 new company-owned stores opened.
The company's stock closed the regular session down 4 cents at $4.45.
Katherine Hunt
kh/gm
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