Jack In The Box 2007 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2007 Jack In The Box annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 91

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91

15. UNAUDITED QUARTERLY RESULTS OF OPERATIONS (in thousands, except per share data)
Fiscal Year 2007
16 Weeks
Ended
Jan. 21, 2007 Apr. 15, 2007 July 8, 2007 Sept. 30, 2007
12 Weeks Ended
Revenues.......................... $856,692 $660,667 $680,203 $678,416
Earnings from operations .............. 63,518 48,122 59,771 48,274
Net earnings ....................... 37,354 27,209 34,743 26,998
Net earnings per share:
Basic ........................... $ 0.53 $ 0.41 $ 0.56 $ 0.44
Diluted ......................... 0.52 0.40 0.54 0.43
Fiscal Year 2006
16 Weeks
Ended
Jan. 22, 2006 Apr. 16, 2006 July 9, 2006 Oct. 1, 2006
12 Weeks Ended
Revenues ........................... $813,003 $618,763 $643,346 $648,491
Earnings from operations ............... 44,049 38,000 44,901 54,745
Earnings before cumulative effect of
accounting change .................. 25,223 21,787 27,841 34,224
Net earnings ........................ 25,223 21,787 27,841 33,180
Earnings before cumulative effect of
accounting change:
Basic ............................ $ 0.36 $ 0.32 $ 0.40 $ 0.49
Diluted........................... 0.35 0.31 0.39 0.47
Net earnings per share:
Basic ............................ $ 0.36 $ 0.32 $ 0.40 $ 0.48
Diluted........................... 0.35 0.31 0.39 0.46
16. NEW ACCOUNTING PRONOUNCEMENTS
In June 2006, the Financial Accounting Standards Board (“FASB”) issued Interpretation No. 48 (“FIN 48”),
Accounting for Uncertainty in Income Taxes —an interpretation of FASB Statement No. 109, which clarifies the
accounting for uncertainty in income taxes recognized in the financial statements in accordance with SFAS 109,
Accounting for Income Taxes. FIN 48 provides guidance on the financial statement recognition and measurement of
a tax position taken or expected to be taken in a tax return. FIN 48 also provides guidance on derecognition,
classification, interest and penalties, accounting in interim periods, disclosures, and transition. We are currently
evaluating the impact of FIN 48 on our consolidated financial statements, which is effective for fiscal years
beginning after December 15, 2006.
In September 2006, the FASB issued SFAS 157, Fair Value Measurements. SFAS 157 clarifies the definition of
fair value, describes methods used to appropriately measure fair value, and expands fair value disclosure
requirements. This statement applies under other accounting pronouncements that currently require or permit
fair value measurements and is effective for fiscal years beginning after November 15, 2007. We are currently in the
process of assessing the impact that SFAS 157 will have on our consolidated financial statements.
In September 2006, the FASB issued SFAS 158, Employers’ Accounting for Defined Benefit Pension and
Other Postretirement Plans — an amendment of FASB Statements No. 87, 88, 106 and 132(R). We adopted the
recognition provisions of SFAS 158 which requires recognition of the overfunded or underfunded status of a defined
benefit plan as an asset or liability. SFAS 158 also requires that companies measure their plan assets and benefit
F-33
JACK IN THE BOX INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)