May 26, 2010 / 10:21 PM / 7 years ago

UPDATE 1-Jamba posts wider-than-expected Q1 loss; shares fall

* Q1 loss/shr $0.13 vs est loss/shr $0.07

* Shares down 8 pct after the bell

May 26 (Reuters) - Jamba Inc (JMBA.O) posted a wider-than-expected quarterly loss, hurt by a fall in the number of company-owned stores, sending the smoothie chain's shares down 8 percent in extended trade.

The company, which owns and franchises the Jamba Juice stores, posted a first-quarter net loss of $5.3 million, or 13 cents a share, compared with $10.2 million, or 19 cents a share, a year ago.

Revenue fell 9.5 percent to $80.4 million.

Two analysts on average were expecting a loss of 7 cents a share, on revenue of $81.3 million, according to Thomson Reuters I/B/E/S.

In June last year, Jamba had announced an initiative, which is expected to result in the refranchising of up to 150 company-owned restaurant locations.

Shares of the company were down at $2.42 after the bell. They closed at $2.64 Wednesday on Nasdaq. (Reporting by Mihir Dalal in Bangalore; Editing by Maju Samuel)

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