NEW YORK (Thomson Financial) - Jamba Inc. aid late Thursday it swung to a
fiscal fourth-quarter net loss of $149.9 million, or $2.85 a share, from a
profit of $10.8 million, or 26 cents a share, a year earlier.
Included in the net loss for the fiscal fourth quarter was a non-cash
goodwill and other intangible assets impairment charge of $157.1 million after
tax.
The mean estimate of analysts polled by Thomson Financial called for a loss
of 16 cents a share.
Sales rose 10% to $54.6 million for the Jan. 1-ended period from $49.7
million a year earlier, just below Wall Street's mean view of $54.9 million.
Company-owned same-store sales fell 3.3% during the period.
The Emeryville, Calif.-based retailer of fruit smoothies said it expects
fiscal 2008 company-owned same-store store sales of negative 2% to positive 2%.
The company reduced its targeted store growth to 35 to 45 stores from 45 to 55
stores, citing the difficult economic conditions.
The stock closed the regular session Thursday at $2.49 down 2.4%.
Michelle Rama
mr/gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|