San Diego-based Jack in the Box Inc. Tuesday reported a 22 percent increase in profit on 4 percent growth in revenue for its 2015 fiscal year and announced plans to open more than 70 restaurants next year.
The national restaurant chain earned $108.8 million, or $2.85 per share in the fiscal year ended Sept. 27, compared to $89.0 million, or $2.12 per share, in the previous fiscal year. Revenue rose to $1.54 billion from 1.48 billion a year ago.
Fourth fiscal quarter earnings were $23.1 million, or 63 cents per share, up from $16.2 million, or 40 cents per share, in the same quarter a year ago. Revenue rose to $354.1 million from $344.7 a year ago.
“We’re pleased with our fourth quarter performance, which culminated in a 15 percent increase in operating earnings per share resulting from solid same-store sales growth and margin expansion at both Jack in the Box and Qdoba,” said Lenny Comma, chairman and CEO.
“This performance capped another terrific year, with operating earnings per share up approximately 22 percent, the fourth consecutive year of growth in excess of 20 percent,” Comma said.
The earnings were reported after the close of financial markets in New York, but Jack in the Box shares rose more than 4 percent to $72.95 in after-hours trading.
The company said Jack in the Box same-store sales increased 6.2 percent in the final quarter, while same-store sales at the Qdoba Mexican food chain went up 6.6 percent.
In its guidance for the new fiscal year, the company said it planned to open 20 new franchised Jack in the Box outlets and 50-60 new Qdoba eateries, about half of them company owned.
Jack in the Box is one of the nation’s largest hamburger chains, with more than 2,200 restaurants in 21 states and Guam. Additionally, the company has more than 600 Qdoba Mexican Eats restaurants in 47 states, the District of Columbia and Canada.