JMBA earnings: lots to drink to after the announcement

Jamba Inc. (NASDAQ: JMBA) reported record fiscal first quarter net earnings of $11.9 million, or 20 cents a share, versus a year ago net loss of $81.5 million, or $3.88 a share. The fiscal first quarter ended May 1 included a pre-tax gain of $15.2 million, or 26 cents a share, related to the change in the fair value of derivative liabilities.

Revenue increased 22% to $89.4 million from a pro-forma $73.5 million in the prior-year period, while comparable store sales rose 4.2% for company-owned stores (compared to -3.5% in the prior year period) and 2.9% for franchise stores (compared to 1.4% in the prior year period). Continuing their strong store growth, 26 new stores were opened during the first quarter, 17 of which were company owned. During the quarter, the Company also acquired 10 franchise stores in California. The company ended 1Q 2007 with $66.6 million in cash and equivalents.

Analysts were expecting, on average, a per share loss of 9 cents on revenue of $68 million. After the announcement, JMBA shares were up 10% in after hours trading.

Also worth highlighting is the addition of Jamba Juice to the Russell 3000 after the market close. Companies added to the list on June 11 will officially join the index at the close of market on June 22. For the full list, please click on the following link: Russell 3000 additions.