San Diego-based Jack in the Box Monday reported fourth fiscal quarter earnings of $32 million, or 97 cents per share, compared to $23.1 million, or 63 cents per share, in the same period last year.
For the year as a whole, the fast food company had net earnings of $124 million, or $3.63 per share, as opposed to $108.8 million, or $2.85 per share, last year. The company’s fiscal years are not entirely comparable, since a 53rd week was added to the year that ended Oct. 2.
The fast-food chain — which operates Jack in the Box and Qdoba restaurants — reported strong revenue growth, while limiting additional expenses.
“We were pleased that Jack in the Box system same-store sales outperformed sluggish industry trends, and although sales and traffic growth at Qdoba were solid, margins were hampered by the impact of new restaurant openings,” said Chairman and CEO Lenny Comma.
“Operating earnings per share for the year — excluding the benefit of the 53rd week — grew more than 25 percent, the fifth consecutive year of growth in excess of 20 percent,” he said.
— City News Service
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