by Christopher Freeburn | August 23, 2012 9:53 am
Krispy Kreme Doughnuts (NYSE:KKD) announced that it earned $4.9 million during the second quarter, down from $8.8 million in the same period last year.
The donut and confectionery chain saw its sales rise to $102.1 million, up 4.3% from $98 million in 2011. That missed the $103.74 million in revenue that Wall Street was looking for, RTT News noted.
Adjusted EPS for the quarter was 12 cents a share, which topped the 5 cents a share analysts had expected.
Investors liked the news. Shares of Krispy Kreme rose more than 4% in Thursday morning trading.
Company officials increased their outlook for the fiscal year. They expect the chain to earn between 22 and 25 cents a share for the year, up from previously-issued guidance of between 21 cents and 24 cents a share.
Wall Street predicts earnings of 24 cents a share for the full year.
The company recently announced plans to open 80 stores in India as part of a five-year joint venture with Citymax India. That came on the heels of an earlier deal with Bedrock Foods to open 35 stores in India, Reuters noted.
Krispy Kreme is also targeting Russia. In April, it teamed with a Russian partner to launch 40 shops across the country over the next five years.
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