Krispy Kreme Doughnuts Q1 Profit Tops Estimate

(RTTNews) - Krispy Kreme Doughnuts, Inc. (KKD) reported net income for the first quarter of $10.7 million or $0.16 per share, compared to $9.7 million or $0.14 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $16.6 million or $0.24 per share, compared to $15.8 million or $0.23 per share in the prior year quarter.

Revenues for the first quarter rose 9% to $132.47 million from $121.58 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.22 per share on revenue of $135.99 million for the first quarter. Analysts' estimates typically exclude special items.

The company maintained its fiscal 2016 adjusted net income outlook of $55 million to $59 million, but updated its outlook for adjusted earnings per share to a range of $0.80 and $0.85 to reflect share repurchase activity completed during the first quarter. The company's previous outlook for fiscal 2016 adjusted net income per share was $0.79 to $0.85.

Analysts currently expect the company to earn $0.84 per share for the fiscal year 2016.