Jack in the Box Inc. Reports Third Quarter FY 2009 Earnings and Updates FY 2009 Guidance

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Date AddedAugust 26, 2009 02:03:25 AM

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SAN DIEGO--(BUSINESS WIRE)-- Jack in the Box Inc. (NASDAQ: JACK) today reported earnings from continuing operations of $32.9 million, or 57 cents per diluted share, for the third quarter ended July 5, 2009, compared with earnings from continuing operations of $29.5 million, or 50 cents per diluted share, for the third quarter of fiscal 2008. Third quarter 2009 results include a pre-tax loss of approximately $2.4 million, or approximately 3 cents per diluted share, related to the expected sale of a lower-performing Jack in the Box(R) company-operated market that is anticipated to close by the end of the calendar year. This loss is included in "Gains on sale of company-operated restaurants, net" in the accompanying consolidated statements of earnings.
As previously announced, the company expects to complete the sale of its 61 Quick Stuff(R) convenience stores by the end of fiscal 2009 in multiple all-cash transactions. As a result, the company recorded an after-tax charge of $14.1 million in the third quarter, which reduced diluted earnings per share by approximately 24 cents. This charge and the results of operations for Quick Stuff are included in discontinued operations in the accompanying consolidated statements of earnings for all periods presented.
Third quarter FY 2009 results (Cont. at source)