Jack in the Box released its 2017 financial report for its second quarter that included earnings per share of 98 cents with revenues reaching $369 million.

Stock in the company increased almost 11% in trading after hours late Tuesday after the earnings report had been released.

The earnings per share of 98 cents excluded 9 cents per share of non-recurring items and beat analyst estimates of 90 cents per share.

The revenue of just over $369 million beat expectations by analysts for revenue of $368.7 million.

JACK posted earnings for its fiscal 2Q of $33.1 million. In addition, the company repurchased over 2.23 million shares of its common stock during the period.

Prior to Tuesday, shares of the chain of fast food restaurants had fallen nearly 9% since the beginning of 2017. However, in the past 12 months its stock is up over 34%.

For its fiscal third quarter, JACK is expecting sales at same-stores to end from 1% down to 1% up. JACK also has projected its same store sales for the full year to increase by 1%.

The fast food chain is expecting earnings for the full year to be between $4.10 and $4.30 per share.

JACK CEO and Chairman Lenny Comma said during a conference call this week that the company’s overall valuation has been impacted by its two separate business models.

Because of that, the CEO said the company retained Morgan Stanley to assist its board in the evaluation of possible alternatives related to Qdoba, its Mexican fast food subsidiary, as well as additional ways to increase shareholder value.

The chairman of the JACK board said the company was continuing to make solid progress in its refranchising initiative with 60 restaurants during its second quarter.

As of Tuesday, there have also been another 70 letters, which are non-binding, signed to sell restaurants.

Jack in the Box restaurants specialize in hamburger sales but have a broad selection of innovative, distinctive products on the menu that target the adult consumer of fast foods.

It menu includes the aforementioned hamburgers plus specialty sandwiches, Mexican food, salads, finger foods as well as many side items.

The fast food industry has become highly competitive the past three years with many turning to breakfast offerings to help with revenue. Many chains have had to revamp menus such as McDonald’s offering its breakfast menu all day and cutting back on the number of items it offers on its menu.