- Total revenue decreased 37.9% to $22.1 million from $35.5 million for the prior year, primarily due to the reduction in the number of Company stores as part of the Company's refranchising strategy.
- Company-owned comparable store sales (1) decreased 0.8%. Franchise-operated comparable store sales (1) decreased 1.1%. System-wide comparable store sales (1) decreased 1.1%.
- System-wide comparable stores (1) sales and transactions exceeded the Knapp-Track Fast Casual benchmark by approximately 170 and 70 basis points, respectively.
- 20 system-wide stores opened and 9 system-wide stores closed, resulting in 11 openings net of closures (2).
- Domestic system-wide sales (3) are $132.9 million versus $132.9 million in the prior year period. Blended royalty rate (4) is 5.1% versus 4.9% for the prior year period.
- General and administrative expenses for the quarter increased 7.7% to $9.7 million compared with $9.0 million for the prior year period primarily due to transition costs and non-recurring expenses in 2016 of $4.4 million. Non-GAAP adjusted general and administrative expense (5) for the quarter was $5.3 million compared with $7.3 million for the prior year period . The decline in Non-GAAP adjusted general and administrative expense (5) is primarily attributed to the company's transition to a franchise focused business model and the reduced overhead support necessary to operate the business.
- GAAP Net Loss attributable to Jamba, Inc. was $(2.0) million or $(0.13) per share compared to GAAP Net Income of $13.1 million, or $0.81 per share for the prior year. Non-GAAP Adjusted Net Income attributable to Jamba, Inc. (5), was $1.8 million, or $0.12 per share compared to $1.6 million, or $0.10 per share for the prior year period.
- Adjusted EBITDA (6) was $4.1 million for the third quarter of 2016 and $4.0 million for the third quarter of 2015.
Jamba, Inc. (NASDAQ:JMBA) today reported unaudited financial results for the third quarter ended September 27, 2016. Financial Highlights