Krispy Kreme didn't report a great net profit. In fact, it basically broke even with a very small loss of roughly $160,000. In the comparable period, the company lost 3 cents per share. Here's another thing to highlight: cash flow from operations for the six-month frame improved.

Like I said, I haven't been keen on investing in this business. Take a look at my thoughts on the previous quarter and you'll see what I'm talking about.

Do these numbers change my opinion? Not really. Yes, when I look at how the stock has performed this year, I realize the potential is there to exploit it as a vehicle to generate trading profits. But I also recognize the speculative nature of the situation. And I don't think the speculative nature has gone away on this Q2 report.

I do like that the press release devoted some attention to marketing strategy. Companies never get too detailed about marketing during a discussion of quarterly earnings, but I sense that management is aware of the fact that the Krispy Kreme brand is in dire need of help. Instead of hearing exclusively about cuts and efficiencies (important stuff, to be sure), I was glad to read thoughts on the use of social media to add a little value to operations.

No, I won't be buying Krispy Kreme. But I'll continue to watch the stock and the company's situation. I've missed out on trading opportunities with the shares, but that's okay. It's all about risk/reward, and I apparently remain cautious about the quality of the ratio when it comes to this maker of pastry.

Disclosure: I don't own any company mentioned; positions can change without notice.