Originally published at www.seclive.com
Filing in Focus: Krispy Kreme 8-K, June 2, 2014
Krispy Kreme Doughnuts, Inc. (KKD) announced its financial results for the first quarter of fiscal year 2015, cutting its earnings outlook for the full fiscal year. The company reported a 0.79% increase in revenue to $121.6M, falling short of analyst predictions of $126.7M, while same-store sales dropped 1.5%. Earnings increased from the year-ago $7.99M and $0.11 per share to $9.65M and $0.14 per share, while adjusted earnings per share of $0.23 met expectations. Last month Krispy Kreme appointed Anthony Thompson, former Papa John's International Inc head, its new CEO. Faced with lower-than-expected revenue, technology upgrade costs, and recent changes in management, the company lowered its earnings forecast from the previously stated $0.73 to $0.79 per share range to between $0.69 and $0.74 per share.
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