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Aug 5 (Reuters) - Hamburger chain Jack in the Box JBX.N posted quarterly profit in line with analysts’ estimates and forecast full-year earnings above Wall Street expectations.
The San Diego-based fast-food chain said it earned $29.9 million, or 51 cents a share, for the third quarter ended July 6, compared with $34.5 million, or 54 cents a share, a year ago.
Analysts on average had expected the company to earn 51 cents a share, before special items, on revenue of $693.2 million, according to Reuters Estimates.
Same-store sales at the company’s namesake restaurants fell 0.4 percent in the period, versus the company’s May outlook of a 2 percent decline, helped by the demand for Real Fruit Smoothies, which was rolled out in April, it said.
The fast-food chain expects same store sales growth to be flat from a year ago for the fourth quarter.
The company narrowed its 2008 earnings outlook range to between $2.01 and $2.05 per share, from its prior forecast of $1.98 to $2.08 per share.
Analysts were expecting a profit of $2.01 a share, before special items, for the period.
Shares of Jack in the Box closed up 5 percent at $23.04 Tuesday on the New York Stock Exchange. (Reporting by Sriram Iyer in Bangalore; Editing by Gopakumar Warrier)