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Jack In The Box Inc. Reports Second Quarter FY 2014 Earnings; Updates Guidance For FY 2014

Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $18.3 million, or $0.43 per diluted share, for the second quarter ended April 13, 2014, compared with earnings from continuing operations of $15.1 million, or $0.33 per diluted share, for the second quarter of fiscal 2013.

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 or losses from refranchising, were $0.51 in the second quarter of fiscal 2014 compared with $0.37 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.
  12 Weeks Ended   28 Weeks Ended
April 13,   April 14, April 13,   April 14,
2014   2013 2014   2013
Diluted earnings per share fromcontinuing operations – GAAP

$

0.43

$

0.33

$

1.18

$

0.92
Restructuring charges 0.11 - 0.11 0.02
(Gains)/losses from refranchising   (0.03 )     0.03   (0.03 )     0.02
Operating earnings per share – Non-GAAP $ 0.51     $ 0.37 $ 1.26     $ 0.96
 

In connection with the refinancing of the company’s credit facility in March 2014, the company wrote off $0.8 million in deferred financing costs during the second quarter. This charge is included in interest expense and negatively impacted diluted earnings per share by approximately one cent in the second quarter.

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