Jamba Juice 2008 Annual Report Download - page 37
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Table of Contents
Company results for the entire fiscal 2006 period. A reconciliation of proforma amounts has been included under the heading “Proforma Reconciliation.”
We have not included the results of fiscal 2005 or the Transition Period on a similar proforma basis. Instead, we are providing only the reported results
of operations for both the Company and Jamba Juice Company separately. For the Company, in addition to the operating results for fiscal 2007 and fiscal
2006 (both reported and proforma), we are presenting our results of operations for the Transition Period and fiscal 2005. For Jamba Juice Company, we are
providing results of operations for a twenty-two week period from June 27, 2006, which was the completion of Jamba Juice Company’s 2006 fiscal year, to
consummation of the Merger on November 29, 2006. We are also providing Management’s Discussion and Analysis for Jamba Juice Company’s fiscal years
ended June 27, 2006 and June 28, 2005, respectively.
The discussion that follows should be read in conjunction with the consolidated financial statements and notes thereto.
Jamba, Inc. consolidated results of operations for fiscal 2007 and 2006, presented on both a reported and proforma basis are summarized below.
Revenue:
Company stores $306,035 $ 22,064 $258,274
Franchise and other revenue 11,174 1,051 10,771
Total revenue 317,209 23,115 269,045
Operating expenses:
Cost of sales 84,226 6,039 66,385
Labor costs 102,661 8,524 83,778
Occupancy costs 37,458 3,590 30,905
Store operating expense 40,449 4,222 30,844
Depreciation and amortization 19,168 1,878 14,446
General and administrative expense 48,384 6,195 35,318
Store pre-opening expense 5,863 285 2,687
Other operating expense 6,567 675 7,874
Goodwill and other intangible asset impairment 200,624 — —
Total operating expenses 545,400 31,408 272,237
Loss from operations (228,191) (8,293) (3,192)
Other income (expense):
Gain (loss) on derivative liabilities 59,424 (57,383) (57,383)
Interest income 3,517 4,177 3,699
Interest expense (181) (71) (178)
Total other income (expense) 62,760 (53,277) (53,862)
Loss before income taxes (165,431) (61,570) (57,054)
Income tax benefit (expense) 52,135 2,544 (404)
Net loss $(113,296) $(59,026) $(57,458)
Weighted-average shares used in the computation of earnings per share:
Basic 52,323,898 24,478,384 51,880,141
Diluted 52,323,898 24,478,384 51,880,141
Loss per share:
Basic $(2.17) $(2.41) $(1.11)
Diluted $(2.17) $(2.41) $(1.11)
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