Krispy Kreme Posts 2Q Profit, But Shares Slump

MarketsAssociated Press

Krispy Kreme Doughnuts Inc. on Tuesday reported a profit of $5.8 million in its fiscal second quarter.

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The Winston Salem, North Carolina-based company said its net income totaled 8 cents per share. Adjusted for pretax expenses, it earned 13 cents per share.

The doughnut chain posted revenue of $120.5 million in the period, which topped Street forecasts. Analysts expected $117.5 million, according to Zacks.

Krispy Kreme backed its full-year profit forecast, saying it expect to earn between 69 and 74 cents per share excluding one-time items.

Krispy Kreme shares have dropped 8 percent since the beginning of the year. The shares fell to $17.61 Tuesday, a decline of roughly 8 percent in the last 12 months. The stock lost 86 cents, or 4.9 percent, to $16.75 in aftermarket trading.