(By Salman - iStockAnalyst Writer)
Emeryville-based Jamba Inc. (NASDAQ: JMBA), owner of Jamba Juice chain of smoothie restaurants, reported a third quarter net loss of $12.4 million compared to a net profit of $22.4 million in the same quarter, a year ago. The company lost 11 cents per share, more than the consensus estimate of a loss of 1 cent per share. Sales rose to $86.6 million at Jamba, compared with sales of $83.6 million a year earlier. Same-store sales declined 10.3% during the period. In the third quarter of 2007 same store sales climbed 3.8%. Interim Chief Executive Officer and President Steven R. Berrard said “while we cannot control the difficult consumer economic conditions we find ourselves operating under, we are taking actions in a number of areas we can control, like strong cost controls and implementing other revenue initiatives. We have also gathered valuable insights from Jamba team members through recent field management meetings that are being incorporated into our plans to better address historical cannibalization, competitive threats, marketing and even new revenue opportunities like food." Shares of Jamba Inc. dropped 1.85% in extended trading.
Schawk, Inc. (NYSE: SGK) reported third quarter net loss of $6.7 million, or $0.25 per fully diluted share, as compared to net income of $6.8 million, or $0.25 per fully diluted share, in the corresponding quarter of 2007. During the third quarter of 2008 the Company incurred acquisition integration and restructuring expenses of $1.9 million and impairment charges on long-lived assets of $3.5 million. Additionally, net loss for the 2008 third quarter included a loss from discontinued operations of $0.4 million, or $0.02 per fully diluted share, related to the company's decision to sell its large format printing operation in Toronto, Canada, as compared to break even results for the discontinued operations in the 2007 third quarter. Net sales in the third quarter dropped 4% to $124.2 million compared to $129.3 million in the same period a year ago. President and Chief Executive Officer David A. Schawk said, "Looking forward to 2009, we are confident that the steps we have taken to improve our efficiency will enable us to be more competitive, drive additional revenue and provide opportunities to enhance profitability. While we are hopeful for overall market improvement, we have and will continue to adapt in order to maintain and improve our margins." Schawk declined 1.33% in late trading on Monday.
Leading travel service provider of hotel accommodations, airline tickets and packaged tours in China, Ctrip.com International, Ltd. (NASDAQ: CTRP) announced a third quarter EPS of $0.29, ex-items, beating the consensus estimates by 7. Revenue for the quarter was $55 million, against the analyst estimates of $54.65 million. For the fourth quarter of 2008, Ctrip.com expects the year-on-year net revenue growth rate to be in the range of 5-15%.