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California | IN BRIEF / Southland

Jack in the Box Revises Third-Quarter Earnings

June 20, 2001|Reuters

Jack in the Box Inc. fiscal third-quarter earnings will be slightly lower than expected due to rising utility costs and a tropical storm that recently struck southeastern Texas.

The San Diego-based fast food chain said it expects earnings per diluted share in the range of 53 cents to 55 cents for the quarter, including a tax rate adjustment benefit of about 3 cents, Chief Executive Robert Nugent said. The company said in May it expected third-quarter earnings of 54 cents to 58 cents.

Analysts estimates ranged from 54 cents per share to 56 cents with a mean at 55 cents.

Jack in the Box operates or franchises more than 1,700 quick-serve restaurants in 16 states with fiscal 2000 systemwide sales of nearly $2 billion.

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