Jamba (JMBA) Misses Q3 Views, Announces $25M Stock Buyback

Jamba (NASDAQ: JMBA) reported Q3 EPS of $0.03, $0.28 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $58.3 million versus the consensus estimate of $59.3 million.

The Company also announced that it is initiating a share repurchase program to buy back up to $25 million of its shares from existing cash resources over the next 18 months. “With significant cash and liquidity, and continuing progress against our fresh-squeezed juice initiative, we believe that now is the right time for a program that will help create additional shareholder value. As we complete the refranchise initiative, we expect to evaluate increasing the amount of our repurchase program with additional cash proceeds at the time,” stated Mr. White.

“All these efforts will make 2014 a year of accelerated accomplishments and also one of transition as Jamba’s product mix shifts more to juice, requiring initial investments and costs but also creating the opportunity for even faster growth that is reflected in our preliminary targets for 2015,” concluded Mr. White.

For earnings history and earnings-related data on Jamba (JMBA) click here.

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