Krispy Kreme Clears Target by a Penny

Krispy Kreme Doughnuts (KKD Quote) beat analysts' earnings estimates by a penny in the latest fourth quarter, and the company expects to meet Wall Street's expectations for fiscal 2003.

Net income rose to $8.3 million, or 14 cents a share, from $4.3 million, or 8 cents a share, in the same period a year ago. The latest fourth quarter, which ended Feb. 3, had 14 weeks, and the same quarter a year ago had 13 weeks. The Winston-Salem, N.C., company estimated that the extra week added a penny a share to earnings.

Systemwide sales, including sales at both company and franchise stores, increased 46.3% to $182.6 million in the fourth quarter. On a comparable-store basis, systemwide store sales were up 13.1%. Same-store sales at company-owned doughnut shops rose 10.7%. ...