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Krispy Kreme Doughnuts Inc. (NYSE: KKD) which has struggled recently with allegations of mismanagement, healthier eating trends, bankruptcy filings by franchisees, and increased competition, said on Monday that it swung to a profit in the first quarter. Also on Monday, Pall Corp. (NYSE: PLL), which makes filters and purifiers, said fiscal third-quarter profit rose, boosted by favorable foreign currency translation and increased sales.
For the quarter that ended May 4, Krispy Kreme reported a profit of $4 million, or 6 cents per share, compared with a loss of $7.4 million, or 12 cents per share in the prior year quarter, when results were cut into by refinancing and litigation charges.
However, revenue fell 7% to $103.6 million from a year ago. The Winston-Salem-based doughnut retailer said same-store sales fell 3.9% overall, but rose 1.2% at company-owned stores.
Krispy Kreme shares rose 48 cents on Monday, or 14%, to $3.90, but slipped in after-hours trading. Shares have risen 23.4% year to date, but are still well off their 52-week high of $9.50.
East Hills, N.Y.-based Pall Corp. reported that its fiscal third-quarter net income rose 26% from the year-ago quarter to $63.3 million, or 51 cents per share. Excluding restructuring and other one-time charges, income earnings were 54 cents per share. Revenue rose 18% to $661.7 million.
Analysts polled by Thomson Financial, on average, had anticipated earnings of 50 cents per share on sales of $633.5 million.
Pall shares rose 42 cents, or about 1%, to close at $39.82, and then rose another 53 cents in after-hours trading. Shares are up 1.2% year to date.
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Reader Comments (Page 1 of 1)
6-10-2008 @ 9:13AM
Mike said...
Have you been to a Krispy Kreme lately? There donuts have went so far downhill its unreal really. They have taken away every type that was close to good. They push a glazed donut on you, even give you one when you walk in cause that is all they ever make, why? It is, by far, the cheapest type to make. You now get half of the filling that just a year or two ago you would get inside any of there filled type. Where did the cinnamon go?? Must be expensive to give cinnamon to people and try to bring them back in. With there prices and there downfall in product, you will never see me in one of there stores again. What a hype this was in the first place. Retail stocks, like giving your cash away. No, I don't and never would own a share of some donut company. Nothing but a gimmick.