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Jack In The Box Inc JACK
Q4 2012 Earnings Call Transcript

Transcript Call Date 11/20/2012

Operator: Good day everyone and welcome Jack in the Box Inc. Fourth Quarter Fiscal 2012 Earnings Conference Call. Today's call is being broadcast live over the Internet. A replay of the call will be available on the Jack in the Box corporate website starting today. During the question-and-answer period please use your handset when asking a question. Please do not ask over a speakerphone.

At this time, for opening remarks and introductions, I would like to turn the call over to Carol DiRaimo, Vice President of Investor Relations and Corporate Communications for Jack in the Box. Please go ahead.

Carol A. DiRaimo - VP, Investor Relations and Corporate Communications: Thank you, Stacy, and good morning, everyone. Joining me on the call today are Chairman and CEO, Linda Lang; Executive Vice President and CFO, Jerry Rebel; and President and Chief Operating Officer, Lenny Comma.

During this morning's session, we'll review the Company's operating results for the fourth quarter of fiscal 2012 as well as some of the guidance we issued yesterday for the first quarter and fiscal 2013 and we’ll also touch upon some of our key expectations for the next three years. Following today's presentation, we'll take questions from the financial community.

Please be advised that during the course of our presentation and our question-and-answer session today, we may make forward-looking statements that reflect management's expectations for the future, which are based on current information. Actual results may differ materially from these expectations, based on risks to the business. The Safe Harbor statement in yesterday's news release and the cautionary statement in the Company's most recent Form 10-K are considered a part of this conference call. Material risk factors as well as information relating to Company operations are detailed in our most recent 10-K, 10-Q and other public documents filed with the SEC. These documents are available on the Investors section of our website at www.jackinthebox.com.

A few calendar items to note; Jack in the Box management will be participating at the ICR XChange, Miami on January 16, and our first quarter ends on January 20. We tentatively plan to announce our earnings results on February 20 after market close and our conference call is tentatively scheduled to be held at 8.30 am Pacific Time on February, the 21st.

Before I turn the call over to Linda, I have one housekeeping item. As many of you know, trying to determine what consensus EPS estimates include or exclude can be very difficult if not impossible. As an example, First Call consensus for fiscal 2013 prior to our earnings release yesterday was $1.58 which included $0.07 of gain, but that $0.07 range from zero to $0.28. This was not apples-to-apples as some analysts completely exclude gains as we are doing in our EPS guidance for 2013. In order to have a meaningful consensus number and try to eliminate some of the confusion, we would ask that the models you submit to First Call or other service exclude gains to promote comparability.

With that, I'll turn the call over to Linda.

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