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Krispy Kreme profits triple

WINSTON-SALEM, N.C. — Fourth-quarter net income at Krispy Kreme Doughnuts Inc. more than tripled, the doughnut company announced last week.

For the three months ended Jan. 31, Krispy Kreme earned $4.2 million, or 30 cents per share, compared with $1.2 million, or 11 cents per share, in the year-ago period.

Analysts surveyed by First Call/Thomson Financial were expecting 25 cents per share.

The per-share numbers don't take into account a 2-for-1 stock split that will take effect on March 19; including the stock split, Krispy Kreme earned 15 cents per share.

Revenue for the quarter rose 39 percent to $81.8 million from $58.7 million in the year-ago period.

Overall systemwide sales, including sales of both company and franchise stores, increased 43.6 percent to $124.8 million in the fourth quarter, compared with $86.9 million in the year-ago period. On a comparable store basis, systemwide store sales were up 14.9 percent and company store sales increased 20.6 percent.

Scott Livengood, chairman, president and chief executive of Krispy Kreme, attributed the increase to a clear business strategy and loyal customers.

The company also announced that its stock, now trading on NASDAQ under the symbol KREM, will begin trading on the New York Stock Exchange on May 17 under the new symbol KK.

The 63-year-old Winston-Salem-based company operates 177 stores in 28 states, including Utah.