Krispy Kreme Doughnuts, Inc. announced consolidated earnings results for the fourth quarter and year ended February 3, 2013. For the quarter, revenues increased 15.9% to $118.1 million from $102.0 million a year ago. Operating income rose 60% to $8.5 million from $5.3 million a year ago. Adjusted net income increased 85% to $7.4 million or $0.11 per diluted share from $4.0 million or $0.06 per diluted share a year ago. Net income was $4.8 million or $0.07 per diluted share compared to $143.5 million or $2.01 per diluted share in the fourth quarter last year. Cash provided by operating activities was $21.3 million compared to $10.9 million in the fourth quarter last year. Income before income taxes was $8,050,000 against $4,835,000 a year ago. For the year, revenues increased 8.1% to $435.8 million from $403.2 million. Operating income rose 48% to $37.7 million from $25.6 million. Adjusted net income increased 54% to $34.2 million or $0.49 per diluted share from $22.2 million or $0.31 per diluted share. Net income was $20.8 million or $0.30 per diluted share compared to $166.3 million or $2.33 per diluted share last year. Cash provided by operating activities was $59.3 million compared to $33.9 million in fiscal 2012. Income before income taxes was $36,316,000 against $30,358,000 a year ago. Purchase of property and equipment was $14,218,000 against $11,884,000 a year ago. For the fiscal year ending February 2, 2014, based on these factors, the company currently expects operating income in the range of $41 million to $44 million, which would represent an increase of 13% to 21% from the $36.4 million operating income for fiscal 2013 measured on a 52-week basis. The company estimates adjusted net income will be in the range of $37 million to $40 million and adjusted EPS will range from $0.53 to $0.57 per share based on a forecasted 70 million diluted shares outstanding. Depreciation will likely be in the range of $10 million to $12 million, and currently expects CapEx to be in the range of $23 million to $35 million. The company expects the GAAP effective tax rate in fiscal 2014 to be about 45%. In terms of current or cash basis income tax expense, the company expects a number of roughly $3 million. Net income expects in a range of $22 million to $23.7 million. The company reported impairment charges and lease termination costs were $4,000 for the fourth quarter ended February 3, 2013 against $113,000 a year ago.

Krispy Kreme Doughnuts, Inc., Q4 2013 Earnings Call, Mar 14, 2013

Krispy Kreme Doughnuts, Inc. announced that they will report Q4, 2013 results at 5:00 PM, Eastern Standard Time on Mar 14, 2013