If customers are willing to pay those prices and costs are managed effectively, the company expects to earn between $22 million and $24 million in fiscal 2012, higher than the $21 million analysts were expecting.
Krispy Kreme booked a fourth-quarter loss of $1.5 million, or 2 cents per share, compared with a year-earlier profit of $500,000, or a penny per share. Revenue rose 6% to $91.7 million.
Both top- and bottom-line results missed expectations. Analysts' consensus had been for Krispy Kreme to earn 4 cents per share on revenue of $92.6 million.
A number of food companies have recently reported that higher ingredient and commodity costs have pressured their results in recent quarters as
global food prices continue to rise
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have all said their financial results were impacted by higher commodity costs on everything from wheat and sugar to coffee beans and fuel, and implemented price increases to help offset those costs.
-- Written by Miriam Marcus Reimer in New York.
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