JAMBA, INC.

CIK:0001316898|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2018	Jul. 04, 2017	Jul. 03, 2018	Jul. 04, 2017
Revenue:
Total revenue	$ 24,493	$ 20,514	$ 45,466	$ 38,127
Costs and operating expenses:
Cost of sales	2,460	2,928	4,662	5,590
Labor	3,544	4,281	6,934	8,569
Occupancy	1,448	1,711	2,851	3,474
Store operating	1,476	2,531	2,897	4,329
Depreciation and amortization	870	899	1,741	1,780
General and administrative	10,552	6,757	18,575	15,358
Loss on disposal of assets	5	392	168	554
Store pre-opening	80	105	115	343
Store lease termination and closure	140	57	200	238
Advertising expense	3,544		6,560
Other operating, net	584	(867)	854	(791)
Total costs and operating expenses	24,703	18,794	45,557	39,444
Income (loss) from operations	(210)	1,720	(91)	(1,317)
Other income (expenses):
Interest income	3	41	7	95
Interest expense	(78)	(83)	(158)	(166)
Total other income (expenses), net	(75)	(42)	(151)	(71)
Income (loss) before income taxes	(285)	1,678	(242)	(1,388)
Income tax (expense) benefit	(1)	47	(6)	(39)
Net income (loss)	$ (286)	$ 1,725	$ (248)	$ (1,427)
Weighted-average shares used in the computation of income (loss) per share:
Basic	15,602,605	15,472,137	15,595,405	15,441,916
Diluted	15,602,605	15,867,544	15,595,405	15,441,916
Income (loss) per share:
Basic	$ (0.02)	$ 0.11	$ (0.02)	$ (0.09)
Diluted	$ (0.02)	$ 0.11	$ (0.02)	$ (0.09)
Company Stores [Member]
Revenue:
Total revenue	$ 11,058	$ 13,262	$ 20,367	$ 24,369
Franchise and Other Revenue [Member]
Revenue:
Total revenue	7,285	6,951	13,653	12,703
Advertising Fees and Other Income [Member]
Revenue:
Total revenue	$ 6,150	$ 301	$ 11,446	$ 1,055

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2018	Jul. 04, 2017
Cash provided by operating activities:
Net loss	$ (248)	$ (1,427)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,741	1,780
Gift card breakage income	(1,702)	(1,948)
Stock-based compensation	2,227	645
Deferred rent	(510)	80
Other, net	430	308
Changes in operating assets and liabilities:
Receivables	1,154	1,557
Inventories	(3)	426
Prepaid expenses and other current assets	836	(19)
Other long-term assets	(193)	1,933
Accounts payable and accrued expenses	(2,518)	940
Accrued compensation and benefits	816	(2,264)
Accrued gift card liability	(2,209)	1,343
Other current liabilities	472	1,488
Other long-term liabilities	(192)	(885)
Cash provided by operating activities	101	3,957
Cash used in investing activities:
Capital expenditures	(1,038)	(775)
Proceeds from sale of assets	2	390
Cash used in investing activities	(1,036)	(385)
Cash provided by financing activities:
Payment on capital lease obligations		(3)
Proceeds pursuant to stock plan		544
Cash provided by financing activities		541
Net (decrease) increase in cash and cash equivalents	(935)	4,113
Cash and cash equivalents at beginning of period	10,030	7,133
Cash and cash equivalents at end of period	9,095	11,246
Supplemental cash flow information:
Cash paid for interest	16	7
Income taxes paid	4	1
Noncash investing and financing activities:
Property, fixtures and equipment in accounts payable	$ 104	$ 105

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 03, 2018	Jan. 02, 2018
Current Assets:
Cash and cash equivalents	$ 9,095	$ 10,030
Receivables, net of allowances of $719 and $904	8,965	10,098
Inventories	468	465
Prepaid rent	683	776
Prepaid expenses and other current assets	3,509	4,321
Total current assets	22,720	25,690
Property, fixtures and equipment, net of accumulated depreciation of $33,549 and $32,785	9,778	10,928
Goodwill	1,181	1,181
Trademarks and other intangible assets, net of accumulated amortization of $887 and $855	1,150	1,211
Deferred tax asset	785	791
Notes receivable and other long-term assets	1,040	847
Total assets	36,654	40,648
Current Liabilities:
Accounts payable and accrued expenses	7,245	10,070
Accrued compensation and benefits	4,059	2,122
Accrued gift card liability	13,456	27,469
Other current liabilities	9,830	8,052
Total current liabilities	34,590	47,713
Long term portion of deferred revenue	7,715	2,398
Deferred rent and other long-term liabilities	4,607	5,111
Total liabilities	46,912	55,222
Commitments and contingencies (Note 10)
Shareholders’ deficit:
Common stock, $0.001 par value—30,000,000 shares authorized; 18,499,434 and 15,640,617 shares issued and outstanding, respectively, at July 3, 2018, and 18,447,023 and 15,588,206 shares issued and outstanding, respectively, at January 2, 2018	18	18
Additional paid-in capital	410,624	409,518
Treasury shares, at cost, 2,858,817 shares	(40,009)	(40,009)
Accumulated deficit	(380,891)	(384,101)
Total shareholders’ deficit	(10,258)	(14,574)
Total liabilities and shareholders' deficit	$ 36,654	$ 40,648