Courtesy of Benzinga.
Krispy Kreme Doughnuts (NYSE: KKD) shares fell sharply in the extended session Tuesday after the company posted a second-quarter bottom-line miss.
Net income for the quarter grew from $4.7 million, or 7 cents a share in the year-ago period, to $5.75 million, or $0.08 cents a share. Excluding items, income was $0.13 a share, down from $0.14 last year.
Revenue increased 6.9 percent from $112.7 million to $120.5 million.
Earnings missed analysts’ expectations for $0.16 a share on revenue of $118.13.
Same-store sales grew 2.8 percent. The Winston-Salem, N.C., retailer said sales comps for the period included a 1.1 gain at company owned shop; growth of 3.8 percent at domestic franchise stores and a 2.4 percent decline at international franchise stores.
Chief Executive Officer Tony Thompson, named to his role in June, said the company is on track to boost store count by 10 percent in 2015.
The company reaffirmed its 2015 forecast of adjusted net income between $48 million and $51 million or $0.69 to $0.74 a share. Wall Street expects $0.73 a share on revenue of $488.32. Analysts expect $0.73 cents a share on revenue of $488.3 million.
In after-hours trading, Krispy Kreme shares recently changed hands at $6.75, down nearly 5 percent.
