Jamba, Inc. (NASDAQ:JMBA) today reported unaudited financial results for the fourth quarter and fiscal year ended January 1, 2013.
For the year, Jamba delivered on all its targets and strategic objectives for strengthening the business model, recording its first year of net income since becoming a public company with an $8.6 million swing in year over year profitability and a second consecutive year of comparable store sales gains for Company-owned stores, attaining 5.1% in fiscal year 2012. Along with the core Jamba business, three key areas showed solid gains in becoming growth drivers for the future – Jamba branded consumer products, the JambaGO express business and international expansion.
For the quarter, Jamba recorded a system-wide comparable store sales increase and significant revenue growth for the portfolio of Jamba-branded CPG products. In addition, Jamba opened 23 franchise-operated stores in the U.S. and international markets and announced plans for adding up to 125 stores in California over the next several years.
“Jamba achieved significant growth and record accomplishments in fiscal 2012 and we look forward to the momentum continuing in 2013. Our annual net income, Jamba’s first since the Company became public, signals that we have a business model designed for accelerated, sustained profitable growth. Our new BLEND Plan 3.0, introduced earlier this year, will broaden and strengthen our efforts to become a globally recognized $1 billion globally recognized, healthy active lifestyle brand by 2015,” said James D. White, chairman, president and CEO of Jamba, Inc.“We expect our growth will come on several fronts including our core business that will have an innovative, extended beverage and food portfolio across all day parts; an expanded retail footprint with new concepts, formats and markets; increased growth for Jamba-branded CPG products; and global expansion for both retail stores and CPG products,” Mr. White said. “And we will continue to relentlessly pursue new ways to reduce costs, increase engagement throughout our organization and drive productivity.”