Krispy Kreme Doughnuts reported a 34 percent increase in its third-quarter profit Monday, but a disappointing earnings forecast soured investors.
Krispy Kreme earned $6.8 million, or 9 cents per share, in the quarter ended Nov. 3. That compared with a year-ago profit of about $5 million, or 7 cents per share.
Revenue rose 7 percent, to $114.2 million from $107.1 million.
The company raised the lower end of its profit forecast by a penny per share to a range of 60 cents to 63 cents per share for the year ending in February. But Krispy Kreme said earnings excluding special items will range between 71 cents and 76 cents per share for the year ending in February 2015, below the 77 cents per share that analysts were expecting. The stock remains up 109 percent this year.Associated Press
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