San Diego Business Journal

Jack in the Box Improves Second Quarter Net Income

By Mike Allen Friday, May 18, 2012

Jack in the Box Inc. reported fiscal 2012 second quarter net income of $21.6 million, compared with net income of $6.8 million for the like quarter of 2011, the company said May 16.

Revenue for the quarter that ended April 15 came in at $507 million, compared with $505 million in the same quarter of last year.

For the six months, Jack in the Box had net income of $33.6 million, down from $39.2 million for the first six months of last fiscal year.

Revenue for the half was $1.16 billion, down from $1.17 billion for the first half of the prior fiscal year.

The company said in the third quarter it expects same store sales to increase by 3 to 4 percent, compared with a 4.7 percent increase for the third quarter of 2011.

For the fiscal year that ends Sept. 30, Jack in the Box said it expects to open 30 to 35 new stores. At April 15 it had 2,242 stores, including 1,641 franchised locations.

Diluted earnings per share this year should finish in a range of $1.28 to $1.50, excluding restructuring charges in the third and fourth quarters, the company said.

In midday May 17 trading, shares of the company, under the ticker JACK on the Nasdaq Exchange, were at $23.65, up $1.20 from the prior day’s closing price. Its 52 week range is $18.25 to $24.59.