UPDATE: Krispy Kreme Shares Slide On Downbeat Revenue

Shares of Krispy Kreme Doughnuts Inc. KKD dropped more than 5% in after-hours trading after the company reported in-line earnings for the fourth-quarter, but the company's revenue missed analysts' estimates. The Winston-Salem, North Carolina-based company posted a quarterly profit of $6.5 million, or $0.10 per share, versus a year-ago profit of $14.8 million, or $0.21 per share. Excluding one-time items, the company earned $0.17 per share. Its sales climbed 11.2% to $125.4 million from $112.7 million. However, analysts were expecting earnings of $0.17 per share on revenue of $126.78 million. Systemwide domestic same store sales climbed 3.6% in the quarter. Cash provided by operating activities climbed to $17.2 million, versus $15.9 million last year. Direct operating expenses climbed to $102.3 million versus $93.3 million, while general and administrative expenses rose to $9.2 million from $7.7 million. Domestic Franchise revenue gained 7.6% to $3.4 million, while International Franchise revenue jumped 10.6% to $7.6 million. President and Chief Executive Officer Tony Thompson said, "We are pleased with the Company's continuing momentum in fiscal 2015…Systemwide unit count increased over 19%, positioning Krispy Kreme as one of the fastest growing chains within the QSR industry. We are growing again in a disciplined and sustainable manner with a variety of shop formats designed to meet individual market needs. We continue to refine and improve our model to better meet consumer needs and deliver outstanding financial returns." The company reaffirmed its guidance for fiscal 2016. For 2016, Krispy Kreme expects adjusted profit of $0.79 per share to $0.85 per share, versus analysts' estimates of $0.84 per share. Krispy Kreme shares fell 5.65% to $19.20 in the after-hours trading session.