Krispy Kreme net income drops while revenue increases
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Krispy Kreme Doughnuts, Inc. (KKD) announced its second quarter results for fiscal year 2013, reporting net income declines while revenue increased. Net income dropped from $4.9M, or $0.07 per share this quarter last year to $4.7M, or $0.07 earnings per share this quarter. Though company revenue increased 10% from $102.1M last year to $112.7M, the company has been dragged down from losses on derivatives, negatively impacting its bottom line. Krispy Kreme reaffirmed its annual guidance of earnings per share between $0.59 and $0.63, just under analyst predictions of $0.64 earnings per share. Sales at stores open at least a year increased 10%, a key performance indicator that many use to assess the financial stability and performance of the business.