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Jack In The Box Inc. Reports Fourth Quarter FY 2012 Earnings; Issues Guidance For FY 2013; Updates Long-term Goals

Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $17.8 million, or $0.39 per diluted share, for the fourth quarter ended September 30, 2012, compared with earnings from continuing operations of $23.2 million, or $0.50 per diluted share, for the fourth quarter of fiscal 2011.

Fiscal 2012 earnings from continuing operations totaled $63.0 million, or $1.40 per diluted share, compared with $81.7 million, or $1.63 per diluted share in fiscal 2011.

Operating earnings per share, a non-GAAP measure which the company defines as diluted earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains from refranchising, were $0.27 per share in the fourth quarter of fiscal 2012 compared with $0.20 per share in the prior year quarter. Operating earnings per share for the fourth quarter of fiscal 2012 includes $2.0 million, or approximately $0.03 per share, of lease costs associated with previously closed restaurants, which are reflected in “impairment and other charges, net” in the accompanying consolidated statements of earnings. For fiscal year 2012, operating earnings per share were $1.20 compared with $0.85 last year. A reconciliation of non-GAAP measurements to GAAP results is provided below with additional information included in the attachment to this release. Figures may not add due to rounding.

  12 Weeks Ended   52 Weeks Ended
September 30,2012   October 2,2011 September 30,2012   October 2,2011
Diluted earnings per share from
continuing operations – GAAP $ 0.39 $ 0.50 $ 1.40 $ 1.63
Plus: Restructuring charges 0.04 0.23
Less: Gains from refranchising   (0.16 )   (0.30 )   (0.44 )   (0.78 )
Operating earnings per share - Non-GAAP $ 0.27   $ 0.20   $ 1.20   $ 0.85  

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