Jamba, inc. provides fiscal year 2016 update and 2017 outlook _ business wire

Approximately $21 million, exiting 2017 with a run rate of no

Approximately $21 million, exiting 2017 with a run rate of no

Non-GAAP Adjusted G&A expense and Non-GAAP Adjusted EBITDA set forth

above are forward-looking non-GAAP measures which the Company is not

able to provide comparable GAAP forward-looking estimates of G&A expense

or net income without unreasonable efforts, as information needed to

make a reasonable forward-looking estimate of G&A or net income is

difficult to predict and estimate and dependent on future events which

are uncertain or outside of the Company’s control. Local food restaurants The probable

significance of such adjustments is also similarly difficult to estimate

Fiscal 2017 is a 52-week fiscal year as compared to the 53-week 2016

The Company previously announced it will disclose Gross Store Openings

and Openings, Net of Closures to provide further transparency to the

financial contribution of new store development. Top 5 fast food restaurants The Company will no

information, due to the smaller financial contribution of the format.


Refer to the table below for a complete detail of store opening and

closing counts by format for fiscal years 2014, 2015, and 2016.

The delay in completion of the Company’s financial statements has been

primarily caused by transition issues stemming from the Company

relocation of its headquarters from Emeryville, California to Frisco,

Texas in the second half of 2016. Food and restaurants near me While the Company had implemented a

transition plan to mitigate the risk relating to the relocation, the

relocation and resulting replacement and training of personnel Company

wide and transition of Company operating knowledge created unanticipated

difficulties and delays in completing the Company’s year-end financials.

complexities with addressing the number of Company non-routine

transactions which occurred in 2016, many of which related to the

The Company currently does not expect to file its Form 10-K on or

before April 4, 2017, the prescribed due date under the fifteen calendar

day extension period provided by Rule 12b-25 under the Securities

Exchange Act of 1934. Restaurants food near me The Company expects to file its Form 10-K as soon

as is practicable, with timing contingent on completion of financial

A conference call will be held today, March 20, 2017 at 8:30 a.m. Restaurants near me fast food ET.

The call will be webcast live from the Company’s website at www.jambajuice.com

under the Corporate Investor Relations section or directly at http://ir.jambajuice.com.

The conference call can also be accessed live over the phone by dialing

(877) 407-3982 or for international callers by dialing (201) 493-6780. Find fast food restaurants A

replay will be available at 11:30 a.m. Best food restaurants near me ET and can be accessed by dialing

(844) 512-2921 or (412) 317-6671 for international callers; the pin

number is 13655279. New fast food restaurants The replay will be available until Monday, April 10,

Jamba today announced that Joe Thornton, its new Senior Vice President,

Chief Operations Officer, has been granted (i) effective March 23, 2017,

a non-qualified stock option to purchase to up 15,000 shares of the

Company’s common stock at a per share price of the closing price of the

Company’s common stock on the date of grant, vesting annually over three

years and (ii) effective upon the filing of a Form S-8 registering the

restricted stock units, (a) 5,000 restricted stock units, vesting

annually over three years, and (b) 70,000 restricted stock units of

which 35,000, 20,000 and 15,000 would vest upon achievement of stock

price targets of $19.50, $24.00 and $28.50 during the three-year period

after grant, respectively, in each case subject to Mr. Chain food restaurants Thornton’s

continued employment with Jamba and/or its affiliates. Additionally,

upon a change of control during the three year period after the grant

date whereby the Company’s stockholders receive per-share consideration

equaling or exceeding any of the price targets listed above, the units

will vest in the amounts listed above for each price target (as adjusted

Additionally, the Company granted effective March 23, 2017 nonqualified

stock options to two new employees who are not executive officers of the

Company to purchase an aggregate of up to 10,000 shares of the Company’s

common stock at an exercise price per share equal to the closing price

of the Company’s common stock on the date of each grant, in each case

vesting annually over four years so long as each employee remains an

The grants were made as an inducement that was a material component of

each person’s compensation and subsequent acceptance of employment with

the Company and was granted as an employment inducement award pursuant

to NASDAQ Listing Rule 5635(c)(4) approved by the Compensation and

Executive Development Committee of the Company’s board of directors.

Jamba, Inc. Fast food restaurants in the area (NASDAQ: JMBA) through its wholly-owned subsidiary, Jamba

Juice Company, is a healthful, active lifestyle brand with a robust

global business driven by a portfolio of franchised and company-owned

Jamba Juice ® stores and Jamba Juice Express™ formats. Nearby food restaurants Jamba Juice ® is

a leading restaurant retailer of “better-for-you” specialty beverage and

food offerings which include flavorful, whole fruit and vegetable

smoothies, fresh squeezed juices and juice blends, Energy Bowls™,

signature “boosts”, shots and a variety of food items including: hot

oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™, baked goods

There are over 900 Jamba Juice store locations globally, as of January

or contact Jamba’s Guest Services team at 1-866-4R-FRUIT (473-7848).

This press release (including information incorporated or deemed

incorporated by reference herein) contains “forward-looking statements”

within the meaning of the Private Securities Litigation Reform Act of

1995. Forward-looking statements are those involving future events and

future results that are based on current expectations, estimates,

forecasts, and projections as well as the current beliefs and

assumptions of the Company’s management. Food restaurants nearby Words such as “outlook”,

“anticipates”, or the negative thereof or comparable terminology, are

intended to identify such forward-looking statements. Fast food restaurants in this area Any statement that

is not a historical fact, including estimates, projections, future

trends and the outcome of events that have not yet occurred, is a

forward-looking statement, including each of the statements made above

with respect to the Company’s 2016 update and under “2017 Financial

Outlook”. Forward-looking statements are only predictions and are

subject to risks, uncertainties and assumptions that are difficult to

predict. Fast food chain restaurants Therefore actual results may differ materially and adversely

from those expressed in any forward-looking statements. Factors that

might cause or contribute to such differences include, but are not

limited to factors discussed under the section entitled “Risk Factors”

in the Company’s reports filed with the SEC. Many of such factors relate

to events and circumstances that are beyond the Company’s control. You

should not place undue reliance on forward-looking statements. Open food restaurants near me The

Company does not assume any obligation to update the information

The Company provides certain forward-looking non-GAAP financial measures

forward-looking non-GAAP measures to its investors provides investors

the benefit of viewing the Company’s performance using the same

financial metrics that the management team uses in making many key

decisions and understanding how the Company’s core business operations

may perform and may look in the future. Fast food restaurants open The non-GAAP financial measures

are discussed further in Footnotes below. Food restaurants near my location The Company is unable to

provide a quantitative reconciliation of its forward-looking estimate of

Non-GAAP Adjusted G&A Expense and Non-GAAP Adjusted EBITDA to

forward-looking estimates of G&A or net income because certain

information needed to make a reasonable forward-looking estimate of G&A

or net income for the full fiscal years 2016 and 2017 is difficult to

predict and estimate and for 2017 is often dependent on future events

which may be uncertain or outside of the Company’s control. Food restaurants around me However, the

Company’s projections of Non-GAAP Adjusted G&A Expense and Non-GAAP

Adjusted EBITDA for both 2016 and 2017 are forward-looking statements

not able to be fully reconciled to corresponding GAAP income statement

measures, and for 2016 these forward-looking statements do not include

charges of approximately $13 million to $14 million in the Fourth

Quarter of 2016 as described under “Anticipated Fourth Quarter Charges”

Non-GAAP financial measures are not in accordance with, or an

alternative for, generally accepted accounting principles in the United

States of America. Most popular fast food restaurants Non-GAAP measures should not be considered in

isolation from or as a substitute for financial information presented in

accordance with generally accepted accounting principles, and may be

Jamba Juice® stores opened more than one full year. Food chain restaurants Company-owned

comparable store sales percentages are based on sales from Company-owned

stores included in our store base. Junk food restaurants Franchise-operated comparable store

sales percentages are based on sales from franchised stores, as reported

by franchisees and do not include International Stores, which are

included in our store base. Restaurants and food System-wide sales percentages are based on

sales by both Company-owned and Franchise-operated stores, as reported

by our franchisees, which are not included in our store base.

System-wide comparable store sales do not include International Stores,

Express format, and JambaGO® locations. Food near me restaurants Company Store comparable sales

represents the change in year-over-year sales for all Company Stores

opened for at least one full year. Fast food and restaurants Franchise Store comparable sales, a

non-GAAP financial measure, represents the change in year-over-year

sales for all Franchise Stores opened for at least one full year, as

reported by franchisees, and excludes International Stores. Restaurants american food System-wide

comparable store sales, a non-GAAP financial measure, represents the

change in year-over-year sales for all Company and Franchise Stores

opened for at least one full year and is based on sales by both

company-owned and domestic franchise-operated stores, as reported by

franchisees, which are in the store base. American food restaurants Comparable store sales

includes closed locations for the periods in which they have comparable

sales. Worst fast food restaurants Company-owned comparable store sales percentages as used herein,

may not be equivalent to Company-owned comparable store sales as defined

or used by other companies. Fast food restaurants usa Franchise-operated comparable store sales

percentages and System-wide comparable stores sales percentages as used

herein are non-GAAP financial measures and should not be considered in

isolation or as substitute for other measures of performance prepared in

accordance with generally accepted accounting principles in the United

States. Restaurants and fast food Management reviews the increase or decrease in Company-owned

comparable store sales, Franchise-operated comparable store sales, and

System-wide comparable store sales compared with the same period in the

prior year to assess business trends and make certain business

decisions. Most fast food restaurants The Company believes the data is useful in assessing the

overall performance of the Jamba® brand and, ultimately, the performance

of the Company, the Company-owned stores, and Franchise-operated stores.

count of new store openings, minus the count of store closures.

is calculated as general and administration expense in accordance with

GAAP excluding costs related to the Company’s move to outsource

specified services to Cap Gemini, refranchise and severance costs

associated with the move to an asset-light business model, charges

related to the executive organization changes, costs due to the

Company’s corporate office relocation to Frisco, Texas, and other

non-recurring general and administrative expense for the fiscal year.

The Company believes that general and administration expense adjusted to

exclude the costs of such items is a helpful indicator of the Company’s

operating performance in that it shows the net expense without the

impact of what the Company believes to be upfront transitional costs.

Management does not believe such costs are reflective of the Company’s

ongoing performance and accordingly excludes those items from Non-GAAP

Adjusted EBITDA in its statements made in this release and believes that

these are useful in measuring the operating performance of the Company.

Adjusted EBITDA is equal to net income, adjusted for: (a) the Company’s

legal and transition costs related to the Company’s move to outsource

specified services to Cap Gemini and the move to an asset-light business

model; (b) the Company’s corporate office relocation to Frisco, Texas,

(c) gain from disposal of assets relating to refranchising; (d)

depreciation and amortization; (e) interest income; (f) interest

expense; (g) income taxes; (h) impairment expense; (i) stock based

compensation expense; and (j) charges that occurred outside of the

normal course of business, including the “Anticipated Fourth Quarter

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