August 5, 2008 / 10:36 PM / 10 years ago

UPDATE 1-Jack in the Box Q3 earnings meet market view

(Recasts, adds details, share movement)

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.

The company, whose larger rivals include McDonald’s Corp (MCD.N), Burger King Holdings Inc (BKC.N) and Yum! Brands Inc (YUM.N), said revenue rose 4 percent to $709.5 million.

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below