Krispy Kreme Doughnuts (KKD) Guides for ~15% adj.-Net Income Growth in FY16

Krispy Kreme Doughnuts (NYSE: KKD) reaffirmed its earnings guidance for fiscal 2015 (ending February 1, 2015) and announced earnings guidance for fiscal 2016 (ending January 31, 2016).

Fiscal 2015 Guidance Reaffirmed

Based on year-to-date results through December and other current information, management is reaffirming its forecast of adjusted net income for fiscal 2015 of between $48 and $51 million ($0.69 to $0.74 per share). On a GAAP basis, the Company projects fiscal 2015 net income of between $28 and $30 million ($0.41 to $0.44 per share).

Adjusted net income and adjusted earnings per share are non-GAAP measures (see the reconciliation of GAAP to adjusted earnings in the table accompanying this release).

Announcement of Guidance for Fiscal 2016

Management announced its forecast of adjusted net income for fiscal 2016 of between $55 and $59 million ($0.79 to $0.85 per share). On a GAAP basis, the Company projects fiscal 2016 net income of between $35 and $37 million ($0.50 to $0.54 per share). GAAP net income reflects an estimated effective income tax rate of 40%.

Certain assumptions underlying management’s earnings guidance for fiscal 2016 are contained in materials to be presented by management today at the ICR XChange investor conference. Such materials are publicly available as described below.

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