Krispy Kreme Trading up 11% After Q1 Results
Shares of Krispy Kreme Doghnuts (NYSE: KKD) are having a very strong session after the company released its fiscal first-quarter earnings results on Monday morning prior to the opening bell. The Winston-Salem based company reported adjusted EPS which was above Wall Street analysts' consensus estimates. After gapping up modestly at the open of trade, KKD shares have rallied higher for much of the session and were last trading up 11.15% to $6.68.
"We got off to a good start in fiscal 2013 as operating income rose 11% on a 4% increase in revenues. All four of our business segments reported improved operating results compared to last year," CEO James Morgan said in a statement.
Krispy Kreme reported adjusted net income of $10.26 million or $0.14 per share, compared to $9.22 million or $0.13 per share, in the year ago period. This compared to Wall Street analysts' consensus EPS estimates of $0.08.
Total revenues in the quarter were up 3.7 percent to $108.50 million versus $104.60 million last year. This compared to Street consensus revenue estimates of $111.40 million.
Looking ahead to fiscal 2013, Krispy Kreme said that it continues to expect adjusted EPS between $0.35 to $0.41. Currently, analysts have consensus EPS estimates of $0.25 for fiscal 2013.
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