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Krispy Kreme's 3Q climbs
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November 15, 2001: 8:49 p.m. ET
Doughnut maker sees 63 percent jump in quarterly earnings.
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NEW YORK (Reuters) - Retail baker Krispy Kreme Doughnuts Inc. said on Friday that its fiscal third-quarter earnings per share rose more than 63 percent, driven by strong sales growth.
The operator of more than 190 stores reported net income of $6.5 million, or 11 cents a share, for the period ended Oct. 28, compared with $3.9 million, or 7 cents, a year ago.
Analysts' estimates ranged from 9 cents per share to 11 cents with a consensus at 10 cents, according to market research firm Thomson Financial/First Call.
Systemwide sales, including those at franchised stores, rose 37.5 percent to $154.4 million from $112.3 million a year ago.
Winston-Salem, North Carolina-based Krispy Kreme (KKD: down $1.19 to $38.80, Research, Estimates) also raised its EPS outlook for the current fiscal year to 44 cents and projected EPS in fiscal 2003 of 61 cents, compared with current First Call estimates of 42 cents and 59 cents, respectively. The company trimmed its estimate for new store
openings this year to 40 from 43. 
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