Krispy Kreme Profit Jumps 55%

The doughnut maker's shares rise nearly 4% on the news.
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Krispy Kreme Doughnuts

(KKD)

posted a 55% rise in third-quarter profit, boosted by strong sales.

The company reported net income of $10.1 million, or 17 cents a diluted share, up from $6.5 million, or 11 cents a diluted share, a year earlier. Analysts had been expecting the company to earn 16 cents a share.

Systemwide sales, including sales from company-owned and franchise locations, rose 26.5% to $195.3 million. Sales in stores open for at least a year rose 13% at company-owned stores and 10.1% systemwide.

The company said it expects fiscal fourth-quarter earnings per share of 18 cents.

Krispy Kreme shares were up 3.8% at $38.37 in recent trading.