NEW YORK (AP) — Krispy Kreme's stock jumped to its highest level in more than a year on Tuesday as the chain's third-quarter results topped analysts' estimates. It also provided a fiscal 2013 adjusted earnings forecast above Wall Street's view.
Krispy Kreme Doughnuts Inc. reported on Monday that its net income rose to $5 million, or 7 cents per share, for the three months ended Oct. 28. That compares with $4.7 million, or 7 cents per share, a year earlier.
Excluding a provision for deferred income taxes, earnings were 12 cents per share.
Analysts surveyed by FactSet expected earnings of 9 cents per share.
Revenue increased 9 percent to $107.1 million from $98.7 million. Wall Street forecast $104.7 million.
Revenue at company stores open at least a year rose 6.8 percent on increased traffic. Revenue at domestic franchised stores open at least a year climbed 5 percent. This figure excludes results from stores recently opened or closed.
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