WINSTON-SALEM, N.C. – Krispy Kreme Doughnuts, Inc. (the “Company”) has 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.
Presentation at ICR XChange Conference
As previously announced, management is scheduled to make a presentation this morning at the 17th Annual ICR XChange Conference at the Grande Lakes Hotel in Orlando, Florida. Such presentation is expected to include, among other things, comments on management’s earnings guidance for both fiscal 2015 and fiscal 2016.
The presentation is scheduled to begin at 9:30 a.m. (ET). Investors and interested parties may listen to a live webcast of the presentation by visiting the Company’s website at www.krispykreme.com under the investor relations section or directly through the ICR XChange website at www.icrxchange.com. A transcript of the presentation is expected to be available on the Company’s website following the conclusion of the conference.
The materials to be presented at the conference appear as Exhibit 99.2 to the Company’s Current Report on Form 8-K filed this morning with the Securities and Exchange Commission.
