-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S6x2bOXSVkdXlUsTxEer0a4GYkGg8aJ3YRUh1eja8Y6nJHLSa/vt3/hdJ1qI9NTl VcVOP2jz3mUwCSr5Mpkx1Q== /in/edgar/work/20000531/0000807882-00-000003/0000807882-00-000003.txt : 20000919 0000807882-00-000003.hdr.sgml : 20000919 ACCESSION NUMBER: 0000807882-00-000003 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000416 FILED AS OF DATE: 20000531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JACK IN THE BOX INC /NEW/ CENTRAL INDEX KEY: 0000807882 STANDARD INDUSTRIAL CLASSIFICATION: [5812 ] IRS NUMBER: 952698708 STATE OF INCORPORATION: DE FISCAL YEAR END: 1003 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-09390 FILM NUMBER: 646675 BUSINESS ADDRESS: STREET 1: 9330 BALBOA AVE CITY: SAN DIEGO STATE: CA ZIP: 92123-1516 BUSINESS PHONE: 6195712121 MAIL ADDRESS: STREET 1: 9330 BALBOA AVENUE CITY: SAN DIEGO STATE: CA ZIP: 92123-1516 FORMER COMPANY: FORMER CONFORMED NAME: FOODMAKER INC /DE/ DATE OF NAME CHANGE: 19920703 10-Q 1 0001.txt FORM 10-Q FOR SECOND QUARTER OF FY 2000 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 16, 2000 -------------- Commission file no. 1-9390 JACK IN THE BOX INC. (Exact name of registrant as specified in its charter) DELAWARE 95-2698708 - --------------------------------------- -------------------------------------- (State of Incorporation) (I.R.S. Employer Identification No.) 9330 BALBOA AVENUE, SAN DIEGO, CA 92123 - ---------------------------------------- ------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (858) 571-2121 -------------- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Number of shares of common stock, $.01 par value, outstanding as of the close of business May 19, 2000 - 38,263,660. JACK IN THE BOX INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED BALANCE SHEETS (In thousands) April 16, October 3, 2000 1999 - -------------------------------------------------------------------------------- ASSETS Current assets: Cash and cash equivalents .......................... $ 10,190 $ 10,925 Accounts receivable, net ........................... 8,563 9,156 Inventories ........................................ 21,730 20,159 Prepaid expenses ................................... 14,253 15,387 Assets held for sale ............................... 53,331 41,607 --------- --------- Total current assets ............................. 108,067 97,234 --------- --------- Trading area rights ................................... 71,883 73,033 --------- --------- Lease acquisition costs ............................... 14,416 15,352 --------- --------- Other assets .......................................... 41,625 40,741 --------- --------- Property and equipment, at cost ....................... 896,835 858,685 Accumulated depreciation and amortization .......... (270,088) (251,401) --------- --------- 626,747 607,284 --------- --------- TOTAL ............................................ $ 862,738 $ 833,644 ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current maturities of long-term debt ............... $ 1,827 $ 1,695 Accounts payable.................................... 38,230 44,180 Accrued expenses.................................... 178,863 183,151 --------- --------- Total current liabilities......................... 218,920 229,026 --------- --------- Deferred income taxes.................................. 8,655 8,055 --------- --------- Long-term debt, net of current maturities.............. 303,950 303,456 --------- --------- Other long-term liabilities............................ 82,157 75,270 --------- --------- Stockholders' equity: Common stock........................................ 413 411 Capital in excess of par value...................... 290,873 290,336 Accumulated deficit................................. (1,970) (38,447) Treasury stock...................................... (40,260) (34,463) --------- --------- Total stockholders' equity........................ 249,056 217,837 --------- --------- TOTAL ............................................ $ 862,738 $ 833,644 ========= ========= See accompanying notes to consolidated financial statements. 2 JACK IN THE BOX INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF EARNINGS (In thousands, except per share data)
Twelve Weeks Ended Twenty-Eight Weeks Ended ----------------------- ------------------------ April 16, April 11, April 16, April 11, 2000 1999 2000 1999 - ---------------------------------------------------------------------------------------------------- Revenues: Restaurant sales........................... $ 347,449 $ 303,666 $ 795,675 $ 688,106 Distribution and other sales............... 13,381 8,893 28,909 19,190 Franchise rents and royalties.............. 9,304 8,899 21,944 20,600 Other...................................... 361 515 773 1,211 ---------- --------- ---------- --------- 370,495 321,973 847,301 729,107 ---------- --------- ---------- --------- Costs and expenses: Costs of revenues: Restaurant costs of sales............... 108,076 97,177 248,064 220,773 Restaurant operating costs.............. 170,388 129,252 391,622 316,593 Costs of distribution and other sales... 13,088 8,711 28,420 18,881 Franchised restaurant costs............. 4,700 5,786 10,842 12,940 Selling, general and administrative........ 42,552 34,906 96,085 79,811 Interest expense........................... 6,006 6,454 14,291 15,471 ---------- --------- ---------- --------- 344,810 282,286 789,324 664,469 ---------- --------- ---------- --------- Earnings before income taxes.................. 25,685 39,687 57,977 64,638 Income taxes.................................. 9,600 14,700 21,500 23,900 ---------- --------- ---------- --------- Net earnings.................................. $ 16,085 $ 24,987 $ 36,477 $ 40,738 ========== ========= ========== ========= Net earnings per share: Basic...................................... $ .42 $ .66 $ .95 $ 1.07 Diluted.................................... $ .41 $ .64 $ .93 $ 1.04 Weighted average shares outstanding: Basic...................................... 38,218 38,138 38,240 38,059 Diluted.................................... 39,223 39,329 39,321 39,136
See accompanying notes to consolidated financial statements. 3 JACK IN THE BOX INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Twenty-Eight Weeks Ended ------------------------ April 16, April 11, 2000 1999 - -------------------------------------------------------------------------------- Cash flows from operations: Net earnings....................................... $ 36,477 $ 40,738 Non-cash items included above: Depreciation and amortization................... 30,710 24,131 Deferred income taxes........................... 600 800 Decrease (increase) in receivables................. 593 (4,401) Increase in inventories............................ (1,571) (3,964) Decrease (increase) in prepaid expenses............ 1,134 (314) Decrease in accounts payable....................... (5,950) (9,050) Increase in other liabilities...................... 3,155 5,828 ---------- -------- Cash flows provided by operations............... 65,148 53,768 ---------- -------- Cash flows from investing activities: Additions to property and equipment................ (48,144) (57,139) Dispositions of property and equipment............. 1,965 2,137 Increase in trading area rights.................... (1,060) (1,510) Increase in other assets........................... (2,071) (1,776) Increase in assets held for sale................... (11,724) (1,480) --------- -------- Cash flows used in investing activities......... (61,034) (59,768) --------- -------- Cash flows from financing activities: Borrowings under revolving bank loans.............. 206,000 193,000 Principal repayments under revolving bank loans.... (205,500) (194,000) Proceeds from issuance of long-term debt........... 825 1,925 Principal payments on long-term debt, including current maturities.............................. (916) (921) Repurchase of common stock......................... (5,797) - Proceeds from issuance of common stock............. 539 1,756 --------- -------- Cash flows provided by (used in) financing activities......................... (4,849) 1,760 --------- -------- Net decrease in cash and cash equivalents.............. $ (735) $ (4,240) ========= ========= See accompanying notes to consolidated financial statements. 4 JACK IN THE BOX INC. AND SUBSIDIARIES NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS 1. The accompanying unaudited consolidated financial statements of Jack in the Box Inc. (the "Company") and its subsidiaries do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, considered necessary for a fair presentation of financial condition and results of operations for the interim periods have been included. Operating results for any interim period are not necessarily indicative of the results for any other interim period or for the full year. The Company reports results quarterly with the first quarter having 16 weeks and each remaining quarter having 12 weeks. Certain financial statement reclassifications have been made in the prior year to conform to the current year presentation. These financial statements should be read in conjunction with the 1999 financial statements. 2. The Company adopted Statement of Position ("SOP") 98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use, in 2000. SOP 98-1 requires that certain costs related to the development or purchase of internal use software be capitalized and amortized over the estimated useful life of the software. The Statement also requires that costs related to the preliminary project stage and the post-implementation/operations stage of an internal use computer software development project be expensed as incurred. The adoption of SOP 98-1 did not result in a material impact in the financial position or results of operations of the Company. 3. The income tax provisions reflect the projected annual tax rate of 37% of earnings before income taxes in 2000 and the actual tax rate of 37% of pretax earnings in 1999. The favorable income tax rates result from the Company's ability to realize previously unrecognized tax benefits. The Company cannot determine with certainty the 2000 annual tax rate until the end of the fiscal year; thus the rate could differ from expectations. 4. Contingent Liabilities On February 2, 1995, an action by Concetta Jorgensen was filed against the Company in the U.S. District Court in San Francisco, California alleging that restrooms at a JACK IN THE BOX restaurant failed to comply with laws regarding disabled persons and seeking damages in unspecified amounts, punitive damages, injunctive relief, attorneys' fees and prejudgment interest. In an amended complaint, damages were also sought on behalf of all physically disabled persons who were allegedly denied access to restrooms at the restaurant. In February 1997, the Court ordered that the action for injunctive relief proceed as a nationwide class action on behalf of all persons in the United States with mobility disabilities. The Company has reached agreement on settlement terms both as to the individual plaintiff Concetta Jorgensen and the claims for injunctive relief, and the settlement agreement has been approved by the U.S. District Court. The settlement requires the Company to make access improvements at Company-operated restaurants to comply with the standards set forth in the Americans with Disabilities Act ("ADA") Access Guidelines. The settlement requires compliance at Company-operated restaurants by October 2005. The Company has begun to make modifications to its restaurants to improve accessibility and anticipates investing an estimated $24 million in capital improvements in connection with these modifications, including approximately $10 million spent through April 16, 2000. Similar claims have been made against JACK IN THE BOX franchisees and the Company relating to franchised locations which may not be in compliance with the ADA. A settlement agreement has been reached in principle subject to definitive documentation. The proposed settlement provides for injunctive relief requiring franchisees to bring their franchised restaurants into compliance with the ADA and requiring payment by the Company of monitoring expenses to ensure compliance and attorney's fees. 5 On November 5, 1996, an action was filed by the National JIB Franchisee Association, Inc. (the "Franchisee Association") and several of the Company's franchisees in the Superior Court of California, County of San Diego in San Diego, California, against the Company and others. The lawsuit alleged that certain Company policies are unfair business practices and violate sections of the California Corporations Code regarding material modifications of franchise agreements and interfere with franchisees' right of association. It sought injunctive relief, a declaration of the rights and duties of the parties, unspecified damages and rescission of alleged material modifications of plaintiffs' franchise agreements. The complaint contained allegations of fraud, breach of a fiduciary duty and breach of a third party beneficiary contract in connection with certain payments that the Company received from suppliers and sought unspecified damages, interest, punitive damages and an accounting. However, on August 31, 1998, the Court granted the Company's request for summary judgment on all claims regarding an accounting, conversion, fraud, breach of fiduciary duty and breach of third party beneficiary contracts. On March 10, 1999, the Court granted motions by the Company, ruling, in essence, that the franchisees would be unable to prove their remaining claims. On April 22, 1999, the Court entered an order granting the Company's motion to enforce a settlement with the Franchisee Association covering various aspects of the franchise relationship, but involving no cash payments by the Company. In accordance with that order, the Franchisee Association's claims were dismissed with prejudice. On June 10, 1999, a final judgment was entered in favor of the Company and against those plaintiffs with whom the Company did not settle. The Franchisee Association and certain individual plaintiffs filed an appeal on August 13, 1999. The Company has settled with all franchisees. Settlements have involved no cash payments by the Company. The Company is also subject to normal and routine litigation. The amount of liability from the claims and actions against the Company cannot be determined with certainty, but in the opinion of management, the ultimate liability from all pending legal proceedings, asserted legal claims and known potential legal claims which are probable of assertion should not materially affect the results of operations and liquidity of the Company. 6 JACK IN THE BOX INC. AND SUBSIDIARIES MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS All comparisons under this heading between 2000 and 1999 refer to the 12-week and 28-week periods ended April 16, 2000 and April 11, 1999, respectively, unless otherwise indicated. Restaurant sales increased $43.7 million and $107.6 million, respectively, to $347.4 million and $795.7 million in 2000 from $303.7 million and $688.1 million in 1999, reflecting increases in both the number of Company-operated restaurants and in per store average ("PSA") sales. The average number of Company-operated restaurants for the 28-week period increased 11.3% to 1,215 in 2000 from 1,092 restaurants in 1999. PSA sales for comparable Company-operated restaurants, those open more than one year, grew 3.0% and 4.5%, respectively, in the 12-week and 28-week periods of 2000 compared with the same periods in 1999. Sales growth resulted from increases in the average number of transactions of 1.4% and 2.5% in the respective 2000 periods and the balance of the increases from higher average transaction amounts. Management believes that the sales growth is attributable to effective advertising and strategic initiatives, including the Assemble-To-Order program in which sandwiches are made when customers order them, new menu boards that showcase combo meals and an order confirmation system at drive-thru windows. Distribution and other sales increased $4.5 million and $9.7 million, respectively, to $13.4 million and $28.9 million in 2000 from $8.9 million and $19.2 million in 1999, primarily due to an increase in other sales at fuel and convenience stores to $6.7 million and $13.8 million in 2000 from $1.9 million and $3.7 million in 1999. At quarter-end, the Company had seven fuel and convenience store locations compared with two a year ago. Franchise rents and royalties increased $.4 million and $1.3 million, respectively, to $9.3 million and $21.9 million in 2000 from $8.9 million and $20.6 million in 1999, which represent approximately 10.4% of franchise restaurant sales in all periods. Franchise restaurant sales grew to $89.5 million and $210.1 million, respectively, in 2000 from $85.3 million and $197.9 million in 1999, benefiting from the Company's strategic initiatives described above. Other revenues, primarily interest income from investments and notes receivable, declined slightly to $.4 million and $.8 million, respectively, in 2000 from $.5 million and $1.2 million in 1999. Restaurant costs of sales and operating costs increased with sales growth and the addition of Company-operated restaurants. Restaurant costs of sales, which include food and packaging costs, increased to $108.1 million and $248.1 million in 2000 from $97.2 million and $220.8 million in 1999. As a percent of restaurant sales, costs of sales declined to 31.1% and 31.2%, respectively, in 2000 from 32.0% and 32.1% in 1999, primarily due to lower ingredient costs, especially cheese, shortening and produce. Restaurant operating costs increased to $170.4 million and $391.6 million, respectively, in 2000 from $147.3 million and $334.6 million in 1999, excluding an unusual adjustment. In the 12-week period in 1999, the Company reduced accrual liabilities and restaurant operating costs by $18.0 million, primarily due to a change in estimates resulting from improvements to its loss prevention and risk management programs, which have been more successful than anticipated. As a percent of restaurant sales, operating costs increased to 49.0% and 49.2%, respectively, in 2000 from 48.5% and 48.6% in 1999 excluding the unusual adjustment reflecting cost increases related to initiatives designed to improve the overall guest experience and slightly higher percentages of labor-related expenses. 7 Costs of distribution and other sales increased to $13.1 million and $28.4 million, respectively, in 2000 from $8.7 million and $18.9 million in 1999, reflecting an increase in the related sales. As a percent of distribution and other sales, these costs were 97.8% and 98.3%, respectively, in 2000 compared to 98.0% and 98.4% a year ago. Franchised restaurant costs, which consist principally of rents and depreciation on properties leased to franchisees and other miscellaneous costs, declined to $4.7 million and $10.8 million, respectively, in 2000 from $5.8 million and $12.9 million in 1999, primarily due to lower franchise-related legal expenses. Selling, general and administrative costs increased to $42.6 million and $96.1 million, respectively, in 2000 from $34.9 million and $79.8 million in 1999. Advertising and promotion costs increased to $17.8 million and $40.6 million, respectively, in 2000 from $15.6 million and $35.4 million in 1999, slightly over 5% of restaurant sales in all periods. General, administrative and other costs were 6.7% and 6.6% of revenues, respectively, in 2000 compared to 6.0% and 6.1% of revenues in 1999, primarily due to a decision to increase staffing levels in the field to accommodate the growth program and other costs to support restaurant and revenue growth. Interest expense declined $.5 million and $1.2 million, respectively, to $6.0 million and $14.3 million in 2000 from $6.5 million and $15.5 million in 1999, reflecting a reduction in total average debt compared to a year ago. The income tax provisions reflect the projected annual tax rate of 37% of earnings before income taxes in 2000 and the actual tax rate of 37% of pretax earnings in 1999. The favorable income tax rates result from the Company's ability to realize previously unrecognized tax benefits. The Company cannot determine with certainty the 2000 annual tax rate until the end of the fiscal year; thus the rate could differ from expectations. In 2000, net earnings were $16.1 million, or $.41 per diluted share, in the 12-week period and $36.5 million, or $.93 per diluted share, in the 28-week period. In 1999, net earnings were $25.0 million, or $.64 per diluted share, in the 12-week period and $40.7 million, or $1.04 per diluted share, in the 28-week period. Excluding the unusual adjustment to restaurant operating costs, and related tax effects net earnings in 1999 were $13.6 million, or $.35 per diluted share, in the 12-week period and $29.4 million, or $.75 per diluted share in the 28-week period. Net earnings increased 18% and 24%, respectively, in 2000 compared to the same periods in 1999, excluding this unusual item, reflecting the impact of sales growth and improved margins. LIQUIDITY AND CAPITAL RESOURCES Cash and cash equivalents decreased slightly to $10.2 million at April 16, 2000 from $10.9 million at the beginning of the fiscal year. The Company expects to maintain low levels of cash and cash equivalents, reinvesting available cash flows from operations to develop new or enhance existing restaurants, and to reduce borrowings under the revolving credit agreement. The Company's working capital deficit decreased $20.9 million to $110.9 million at April 16, 2000 from $131.8 million at October 3, 1999, primarily due to an increase in assets held for sale and a decline in current liabilities. The Company and the restaurant industry in general maintain relatively low levels of accounts receivable and inventories and vendors grant trade credit for purchases such as food and supplies. The Company also continually invests in its business through the addition of new units and refurbishment of existing units, which are reflected as long-term assets and not as part of working capital. 8 In 1998, the Company entered into a revolving bank credit agreement, which provides for a credit facility expiring in 2003 of up to $175 million, including letters of credit of up to $25 million. At April 16, 2000, the Company had borrowings of $86.5 million and approximately $80.8 million of availability under the agreement. Total debt outstanding increased slightly to $305.8 million at April 16, 2000 from $305.2 million at the beginning of the fiscal year. The Company is subject to a number of covenants under its various debt instruments including limitations on additional borrowings, capital expenditures, lease commitments and dividend payments, and requirements to maintain certain financial ratios, cash flows and net worth. The bank credit facility is secured by a first priority security interest in certain assets and properties of the Company. In addition, certain of the Company's real estate and equipment secure other indebtedness. The Company requires capital principally to grow the business through new restaurant construction, as well as to maintain, improve and refurbish existing restaurants, and for general operating purposes. The Company's primary sources of liquidity are expected to be cash flows from operations, the revolving bank credit facility, and the sale and leaseback of restaurant properties. Additional potential sources of liquidity include financing opportunities and the conversion of Company-operated restaurants to franchised restaurants. Based upon current levels of operations and anticipated growth, the Company expects that cash flows from operations, combined with other financing alternatives available, will be sufficient to meet debt service, capital expenditure and working capital requirements. Although the amount of liability from claims and actions against the Company cannot be determined with certainty, management believes the ultimate liability of such claims and actions should not materially affect the results of operations and liquidity of the Company. On December 3, 1999, the Company's Board of Directors authorized the purchase of the Company's outstanding common stock in the open market for an aggregate amount not to exceed $10 million. At April 16, 2000, the Company had acquired 305,800 shares under this authorization for an aggregate cost of $5.8 million. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The Company's primary exposure relating to financial instruments is to changes in interest rates. The Company uses interest rate swap agreements to reduce exposure to interest rate fluctuations. At April 16, 2000, the Company had a $25 million notional amount interest rate swap agreement expiring in June 2001. This agreement effectively converts a portion of the Company's variable rate bank debt to fixed rate debt and has a pay rate of 6.38%. 9 The Company's credit facility bears interest at an annual rate equal to the prime rate or the London Interbank Offered Rate ("LIBOR") plus an applicable margin based on a financial leverage ratio. As of April 16, 2000, the Company's applicable margin was set at .625%. During the second quarter of fiscal year 2000, the average interest rate on the credit facility was 6.8%. At April 16, 2000, a hypothetical one percentage point increase in short-term interest rates would result in a reduction of $.6 million in annual pre-tax earnings. The estimated reduction is based on holding the unhedged portion of bank debt at its April 16, 2000 level. At April 16, 2000, the Company had no other material financial instruments subject to significant market exposure. CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements including, but not limited to, the Company's expectations regarding its effective tax rate, its continuing investment in new restaurants and refurbishment of existing facilities and sources of liquidity. Forward-looking statements are generally identifiable by the use of the words "believe," "expect," "intend," "anticipate," "estimate," "project" and similar expressions. Forward-looking statements are subject to known and unknown risks and uncertainties which may cause actual results to differ materially from expectations. The following is a discussion of some of those factors. The Company's tax provision is highly sensitive to expected earnings and as expectations change the Company's income tax provision may vary more significantly from quarter to quarter and year to year than companies which have been continuously profitable. However, the Company's effective tax rates are expected to increase in the future. There can be no assurances that growth objectives in the regional domestic markets in which the Company operates will be met or that capital will be available for refurbishment of existing facilities. Additional risk factors associated with the Company's business are detailed in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. NEW ACCOUNTING STANDARDS In June 1998, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards ("SFAS") No. 133, Accounting for Derivative Instruments and Hedging Activities, which establishes accounting and reporting standards for derivative instruments and hedging activities. SFAS 133 requires that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. This Statement was amended by SFAS 137 which defers the effective date to all fiscal quarters of fiscal years beginning after June 15, 2000. SFAS 133 is effective for the Company's first quarter in the fiscal year ending September 30, 2001 and is not expected to have a material effect on the Company's financial position or results of operations. 10 PART II - OTHER INFORMATION There is no information required to be reported for any items under Part II, except as follows: Item 1. Legal Proceedings - See Note 4 to the Unaudited Consolidated Financial Statements. Item 4. Submission of Matters to a Vote of Security Holders. The results of the Company's annual meeting, held February 18, 2000, were reported in the Quarterly report on Form 10-Q for the quarter ended January 23, 2000. Item 6. Exhibits and Reports on Form 8-K. (a) Exhibits Number Description 27 Financial Data Schedule (included only with electronic filing) (b) Reports on Form 8-K - None SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized and in the capacities indicated. JACK IN THE BOX INC. By: DARWIN J. WEEKS --------------- Darwin J. Weeks Vice President, Controller and Chief Accounting Officer (Duly Authorized Signatory) Date: May 31, 2000 11 EX-27 2 0002.txt FDS FOR FISCAL YEAR 2000 SECOND QUARTER 10-Q
5 FISCAL YEAR THROUGH SECOND QUARTER CONTAINS 28 WEEKS 1000 6-MOS OCT-01-2000 OCT-04-1999 APR-16-2000 10,190 0 9,707 1,958 21,730 108,067 896,835 270,088 862,738 218,920 303,950 413 0 0 248,643 862,738 824,584 847,301 276,484 678,948 0 0 14,291 57,977 21,500 36,477 0 0 0 36,477 0.95 0.93
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