Jack in the Box Inc. (JACK) reported second-quarter net earnings of $13.3 million or $0.29 per share, compared to $21.6 million or $0.48 per share in the year-ago quarter.
Operating earnings per share, a non-GAAP measure which the company defines as earnings per share from continuing operations on a GAAP basis excluding restructuring charges and gains or losses from refranchising, were $0.33 per share in the second quarter of fiscal 2013 compared with $0.30 per share in the prior year quarter.
Meanwhile, revenue for the quarter declined to $355.62 million from $366.48 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.31 per share on revenue of $358.87 million for the quarter. Analysts' estimates typically exclude special items.
Jack in the Box company same-store sales increased 2.1% in the first quarter, while Qdoba's same-store sales for the quarter increased 1.5% for company restaurants.
Looking forward to the third quarter, the company expects same-store sales to increase 1 to 3 percent at Jack in the Box company restaurants and expected to be flat at Qdoba company restaurants.
For the fiscal year 2013, the company now expects operating earnings per share to range from $1.55 to $1.65. Analysts currently expect the company to earn $1.61 per share for the fiscal year 2013.
Earlier, the company expected operating earnings in the range of $1.48 per share to $1.63 per share.
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