Earnings Call Excerpt
Jamba, Inc. (JMBA)
Q2 2009 Earnings Call
August 20, 2009 5:00 pm ET
Executives
Karen L. Luey – Chief Financial Officer & Senior Vice President
James D. White – President, Chief Executive Officer & Director
Analysts
Mark Hillman – Jefferies & Co.
[Alan Dannen] – RBC Capital Markets
Christopher Donnelly – Pacific Rock Capital
Jason Blair - Rockdale
Patrick Lin – Primarius Capital
Presentation
Operator
Welcome to Jamba, Inc.’s second quarter earnings conference call. (Operator Instructions) It is now my pleasure to introduce your host, Ms. Karen Luey, Senior Vice President and Chief Financial Officer for Jamba, Inc. Thank you. You may begin.
Karen Luey
Thank you operator. Good afternoon. With me on today’s call is James D. White, our President and CEO. During today’s call I will review our second quarter results and James will follow with an update on our 2009 blend plan which was released earlier this year and then we will take Q&A. I would like to remind all listeners that this call is being broadcast and recorded live over the Internet at JambaJuice.com. The webcast is available on our website and replay will be available via telephone until September 10, 2009.
This conference call will include forward-looking statements within the meaning of the securities law. These forward-looking statements will include discussions about the company’s strategic priorities and certain statements of our expectations and plans. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements that are contained in the company’s filings with the SEC including the risk factor section in our most recent Form 10Q.
The company does not assume any obligation to publically release any revisions to forward-looking statements discussed during the call. With that said, I would like to turn it over to James.
James White
Thank you Karen and welcome to all of you. I would characterize the second quarter as one of significant progress in the face of continuing tough challenges. As we move into Q3 I am confident that we have the right strategy to turnaround and transform Jamba, the right capabilities, resources and team to execute them with excellence, but much of our success of course will be contingent upon the condition of the economy.
Our performance in the second quarter underscores that belief. We are obviously not pleased with our comp store sales performance at minus 13 but we were able to post improvements on the consolidated EBITDA line for the second consecutive quarter which reflects the results of our disciplined expense management and cost reduction programs.
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