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

mercoledì 6 agosto 2008 00:34

(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: Quotazione), Burger King Holdings Inc BKC.N and Yum! Brands Inc (YUM.N: Quotazione), 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)