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Krispy Kreme Doughnuts Q2 Profit Tops Estimate

Krispy Kreme Doughnuts, Inc. (KKD) reported second-quarter net income of $4.9 million or $0.07 per share, down from $8.8 million or $0.12 per share in the comparable quarter last year.

Excluding items, adjusted net income for the quarter was $8.2 million or $0.12 per share, compared to $4.2 million or $0.06 per share in the year-ago quarter.

On average, 6 analysts polled by Thomson Reuters expected the company to earn $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the latest quarter rose 4.3 percent to $102.1 million from $98.0 million last year. Four analysts expected revenues of $103.74 million for the quarter.

Looking ahead, the company raised its fiscal 2013 adjusted earnings guidance to $0.36-$0.42 per share and GAAP earnings guidance $0.22-$0.25 per share. Previously the company had forecasted adjusted earnings per share to be between $0.35 and $0.41 and GAAP earnings to be between $0.21 and $0.24.

Analysts currently expect the company to earn $0.24 for the fiscal 2013.

by RTT Staff Writer

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