Hot Doghnuts are hot as Krispy Kreme says profits doubled

WINSTON-SALEM, N.C.- Krispy Kreme Doughnuts Inc. said Friday its fourth-quarter profits nearly doubled, on stronger sales and helped in part by an additional week in the latest reporting period. <br> <br> The Winston-Salem snack food baker earned $8.3 million, of 14 cents a share, in the three months ended Feb. 3, up from $4.3 million, or 8 cents a share, a year ago. <br> <br> Analysts surveyed by Thomson Financial/First Call had predicted 13 cents. The company estimated that the extra week during the quarter increased earnings by about a penny a share. <br> <br> Revenue rose to $117.1 million from $81.9 million a year ago. <br> <br> It added 21 new stores from Seattle to Toronto during the quarter and said sales growth continued at company-owned stores, franchised operations and mix manufacturing facilities. <br> <br> Sales at both company and franchise stores increased 46 percent to $182.6 million in the fourth quarter, compared with $124.8 million in the fourth quarter of fiscal 2001. <br> <br> Earnings for the year rose to $26.4 million, or 45 cents a share, up from $14.7 million, or 27 cents a share, a year ago. revenue rose to $394.4 million from $300.7 million a year ago. <br> <br> The company said it expected to earn 62 cents per share during its current year, a penny higher than the Wall Street consensus. <br> <br> Krispy Kreme operates 217 stores in 33 states and Canada. <br> <br>

http://accesswdun.com/article/2002/3/197737