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Doughnut dean Krispy Kreme (KKD) baked up its third-quarter earnings, revealing a net loss of four cents per share. The quarterly earnings reflect provisions for the settlement of litigation and related legal costs, which totaled three cents per share. A year ago, Krispy Kreme lost nine cents per share in the third quarter.
Krispy Kreme's president and CEO noted, "Our results continued to improve year-over-year in the third quarter ... Our improved results are evidence of progress in implementing our strategic initiatives, which have us on a path toward building a growing, profitable business that is sustainable for the long term."
That said, Morgan added, "There is still much work to be done to achieve our long-term goals of sustained revenue growth and consistent profitability, but we are pleased with the improvement in our financial results for the third quarter and year-to-date fiscal 2010."
Technically, KKD is worth very little, as it is little more than a penny stock. The stock is battling overhead resistance at the $3.50 level along with the equity's 20-month moving average, which has acted as a ceiling for the stock during the past three years. Realistically, KKD is not a stock that is going to get you rich quick. Recently the stock has shown some signs of life, but it is going to take quite a bit of good news to push the stock through the overhead resistance.
If you are looking to make money with Krispy Kreme, you may want to buy a dozen doughnuts, then go sell them at a profit.
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