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TheStreet Open House

Jack In The Box Inc. Reports First Quarter FY 2013 Earnings; Updates Guidance For FY 2013

Stocks in this article: JACK

Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $23.9 million, or $0.54 per diluted share, for the first quarter ended January 20, 2013, compared with earnings from continuing operations of $12.0 million, or $0.27 per diluted share, for the first quarter of fiscal 2012.

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 $0.54 per share in the first quarter of fiscal 2013 compared with $0.25 per share in the prior year quarter. Gains from refranchising contributed approximately $0.01 per diluted share for the quarter as compared with approximately $0.02 per diluted share in the prior year quarter.

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.

    16 Weeks Ended
January 20,2013   January 22,2012
Diluted earnings per share fromcontinuing operations – GAAP $ 0.54   $ 0.27
Plus: Restructuring charges 0.01
Less: Gains from refranchising   (0.01 )     (0.02 )
Operating earnings per share – Non-GAAP $ 0.54     $ 0.25  

During the first quarter of 2013, the company continued to review and refine its organization to create a structure that more efficiently supports its business model. As a result, restructuring charges of $0.8 million, or approximately $0.01 per diluted share, were recorded during the first quarter of 2013. These charges are included in “impairment and other charges, net” in the accompanying consolidated statements of earnings.

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