Highlights for the 13 weeks ended July 3, 2012, compared to the 12 weeks ended July 12, 2011:
This is the second quarter the Company’s results are being reported on the basis of 13-week fiscal quarters which results in 12 fiscal periods. Therefore, the fiscal 2012 quarterly results are not directly comparable to fiscal 2011 quarterly results. Fiscal 2012 second quarter began on April 4, 2012 and ended on July 3, 2012. The second quarter of fiscal 2012 had 13 weeks and the second quarter of fiscal 2011 had 12 weeks. For comparable sales, the percentage change in company-owned and system-wide comparable sales compares the sales during a 13- and 26-week period in 2012 to the sales from the equivalent 13- and 26-week periods in the prior year. The Company has provided pro-forma results for fiscal 2011 second quarter in the attached tables.
- Total revenue for the 13-week quarter ended July 3, 2012 increased 12.2% to $66.0 million compared to $58.9 million for the 12-week quarter ended July 12, 2011.
- System-wide comparable store sales (1) increased 5.7%, franchise-operated comparable store sales (1) increased 6.4% and company-owned stores sales (1) increased 5.1%.
- Net income was $4.6 million, or $0.05 diluted earnings per share for the quarter, compared to net income of $3.9 million or $0.05 diluted earnings per share for the prior year period.
- General and administrative expenses increased to $10.8 million due to accelerated investment in growth initiatives, the semi-annual charge for performance related incentive compensation and an extra week in the quarter. On a non-GAAP adjusted basis (3), excluding these factors, G&A decreased $0.1 million. Prior year period G&A was $8.0 million.
- During the quarter, 13 new stores opened; seven new franchise units in the U.S., four in Canada, one in South Korea and another in the Philippines.
- Jamba added Make It Light™ versions of its top 10 classic smoothies, with one-third less calories than the original recipes. A new watermelon flavor was introduced to the Fruit Refresher and frozen yogurt platforms.
- The Company also completed its previously announced plan to acquire the intellectual property for the Jamba All Natural energy drink from Nestle to position Jamba for the accelerated growth of its consumer products platform.
Highlights for the 13 weeks ended July 3, 2012, compared to the pro-forma 13 weeks ended June 28, 2011:
- Total revenue for the 13 weeks ended July 3, 2012 was $66.0 million, pro-forma total revenue for the 13 weeks ended June 28, 2011 was $63.7 million.
- General and administrative expenses for the 13 weeks ended July 3, 2012 increased to $10.8 million from $8.7 million for pro-forma general and administrative expenses for the 13 weeks ended June 28, 2011.
- The attached tables include pro-forma results for the 13 weeks ended June 28, 2011.
Second Quarter Fiscal 2012 ResultsRevenue For the second quarter ended July 3, 2012, total revenue increased 12.2% to $66.0 million from $58.9 million in the second quarter ended July 12, 2011. The increase is primarily due to the inclusion of 13 weeks in the fiscal 2012 second quarter compared to 12 weeks in the fiscal 2011 second quarter. The increase in company-owned comparable store sales of 5.1% was driven primarily by an increase in transaction count of 90 basis points and an average check increase of 420 basis points. This represents the Company’s seventh consecutive quarter of positive company-owned comparable store sales growth. In the second quarter of 2012, system-wide comparable store sales increased 5.7% and franchise-operated comparable store sales increased 6.4%. Franchise and other revenue was $3.5 million for the 13-week period ended July 3, 2012 and $2.9 million for the 12-week period ended July 12, 2011. Jamba’s CPG revenue was $0.3 million in the second quarter of 2012.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV