UPDATE: Krispy Kreme Posts Upbeat Q1 Profit, Affirms FY13 Forecast

Krispy Kreme Doughnuts Inc

reported a 34% drop in its fiscal first-quarter net income. Krispy Kreme's quarterly earnings fell to $6 million, or $0.08 per share, from $9.2 million, or $0.13 per share, in the year-ago quarter. Its adjusted net income came in at $0.14 per share. Krispy Kreme's revenue climbed to $108.5 million from $104.6 million. However, analysts were expecting earnings of $0.10 per share on revenue of $111.9 million. Its same-store sales surged 2.1%. Krispy Kreme affirmed its forecast for the full fiscal year. It expects earnings of $0.21 to $0.24 per share, or an adjusted profit of $0.35 to $0.41 per share. However, analysts were expecting earnings of $0.30 per share. Krispy Kreme shares gained 3.99% to $6.25 in pre-market trading.