Jamba posts first profit in two years

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Date AddedDecember 22, 2009 11:42:31 PM

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Jamba Inc., the Emeryville-based owner of the Jamba Juice smoothie stores, banished two years of losses and posted third-quarter profits of $2.8 million, or 4 cents a share, compared with a year-ago loss of $12.4 million. Before the profit in the third quarter that ended Oct. 6, Jamba had last reported a profit in the third quarter of 2007. Revenues totaled $79 million, down 8.8 percent from a year ago. "We continued to make solid progress throughout the quarter in several strategically important areas, including food, franchise development, brand licensing, cost management and operating efficiency," said Jamba CEO James White. "We achieved the gains despite the slow pace of economic recovery and continued high unemployment in California where Jamba has a concentrated store presence."