|13 Weeks Ended||12 Weeks Ended||53 Weeks Ended||52 Weeks Ended|
|Oct. 2,2016||Sept. 27,2015||Oct. 2,2016||Sept. 27,2015|
|Diluted earnings per share fromcontinuing operations - GAAP||$||0.98||$||0.65||$||3.70||$||2.95|
|(Gains) losses from refranchising||0.00||(0.02||)||(0.02||)||0.05|
|Operating earnings per share - Non-GAAP||$||1.03||$||0.62||$||3.86||$||3.00|
Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $32.6 million, or $0.98 per diluted share, for the fourth quarter ended October 2, 2016, compared with $23.8 million, or $0.65 per diluted share, for the fourth quarter of fiscal 2015. Fiscal 2016 earnings from continuing operations totaled $126.3 million, or $3.70 per diluted share, compared with $112.6 million, or $2.95 per diluted share in fiscal 2015. 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 $1.03 in the fourth quarter of fiscal 2016 compared with $0.62 in the prior year quarter. For fiscal year 2016, operating earnings per share were $3.86 compared with $3.00 last year. The fourth quarter and fiscal year ended October 2, 2016, included 13 weeks and 53 weeks, respectively, as compared to 12 weeks and 52 weeks in the fourth quarter and fiscal year ended September 27, 2015, respectively. The company estimates that the extra week benefited diluted earnings per share by approximately 9 cents in both the fourth quarter and fiscal 2016. 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.
During fiscal 2016, the company announced plans to reduce general and administrative costs. A comprehensive review of its organizational structure identified cost savings from workforce reductions, relocation and consolidation of the Qdoba ® corporate support center, refranchising initiatives, and information technology synergies across both brands. As a result, restructuring charges of $2.3 million, or approximately $0.05 per diluted share, were recorded during the fourth quarter. Restructuring charges for fiscal year 2016 totaled $10.1 million, or approximately $0.19 per diluted share. Charges consist primarily of employee severance pay and facility closing costs. These charges are included in "impairment and other charges, net" in the accompanying consolidated statements of earnings. Lenny Comma, chairman and chief executive officer, said, "Operating earnings per share for the fourth quarter exceeded our expectations, due primarily to a reduction in G&A costs resulting from our restructuring initiatives, as well as lower impairment charges and a lower tax rate. We were pleased that Jack in the Box ® system same-store sales outperformed sluggish industry trends, and although sales and traffic growth at Qdoba were solid, margins were hampered by the impact of new restaurant openings. "Operating earnings per share for the year (excluding the benefit of the 53rd week) grew more than 25 percent, the fifth consecutive year of growth in excess of 20 percent.