Krispy Kreme Inc. (DNUT) on Wednesday reported first-quarter net income of $4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The doughnut wholesaler and retailer posted revenue of $372.5 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $365 million.
Krispy Kreme expects full-year earnings in the range of 38 cents to 41 cents per share, with revenue in the range of $1.53 billion to $1.56 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DNUT at https://www.zacks.com/ap/DNUT
