Krispy Kreme Doughnuts Ticker: KKD Page 1 of 10
Complete Financials: April 2001 Exchange NYSE
FY END JAN
ISSUE DATA (06/15/01) PER SHARE DATA RATIOS
Price $ 38.06 EPS (TTM) $ 0.31 P/E (TTM) 124.38
52W High $ 38.55 Div. Rate $ 0.00 Yield 0.00 %
52W Low $ 14.13 Book Value $ 2.89 Price/Book 13.17
Shrs Out 53.61 Mil Cash $ 0.86 ROE (TTM) 13.84 %
Float 38.00 Mil Rev (TTM) $ 5.59 ROA (TTM) 10.33 %
Mon. Vol 21.86 Mil Curr. Ratio 2.48
Beta NA LT Dbt/Eqty 0.00
BRIEF: Krispy Kreme is a branded specialty retailer of
premium quality doughnuts which are made throughout the day.
As of 4/29/01, there are 180 Krispy Kreme stores operating
nationwide. For the 13 weeks ended 4/29/01, revenues rose
24% to $87.9M. Net income increased 89% to $5.7M. Revenues
benefited from increased comparable store sales and new
franchise stores. Earnings reflect improved efficiencies,
selected price increases and higher investment income.
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Krispy Kreme Doughnuts QUARTERLY SUMMARY Page 2 of 10
HISTORICAL QUARTERLY RESULTS(Thousands of U.S. Dollars)
REVENUE 1999 2000 2001 2002
1st Qtr APR 45,070 53,328 70,870 87,921
2nd Qtr JUL 42,941 51,356 70,060
3rd Qtr OCT 45,179 56,849 77,897
4th Qtr JAN 47,690 58,710 81,888
EPS (U.S. Dollars per share)
1st Qtr APR 0.043 0.050 0.065 0.100
2nd Qtr JUL 0.018 0.025 0.065
3rd Qtr OCT 0.028 0.050 0.070
4th Qtr JAN -0.183 0.030 0.075
1/00 Balance sheet is pro-forma. FY'00 Qs are being
restated for the adoption of SAB 101. FY'00 Summ. Qs
reflect the restatement.
DIVIDENDS EMPLOYEES
Last Dividend Decl. $ NA # Employees 3,200
Last Div Ex-Date NA Sales/Employee (TTM) 99,302
Last Div Pay Date NA Net. Income/Empl.(TTM) 5,441
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Krispy Kreme Doughnuts COMPANY COMPARISON Page 3 of 10
TO THE RESTAURANTS & LODGING AND S&P 500 AGGREGATES
VALUATION RATIOS: COMPANY INDUSTRY S&P 500
P/E Ratio 124.38 23.59 28.60
Dividend Yield 0.00 0.59 1.30
Price to Tangible Book 13.17 3.80 8.69
Price to Book 13.17 3.15 6.03
Price to Free Cash Flow -2,718.57 59.09 45.60
GROWTH STATISTICS:
3 Yr Rev Growth 23.73 14.65 14.95
3 Yr EPS Growth 43.36 15.69 17.80
3 Yr Div Growth NM 2.21 10.85
Reinvestment Rate 100.00 91.65 72.46
PROFITABILITY RATIOS:
Net Profit Margin 5.48 7.52 11.15
Return on Equity 13.84 14.40 19.82
Interest Coverage 159.42 8.12 8.30
FINANCIAL STRENGTH RATIOS:
Current Ratio 2.48 1.07 1.58
LT Debt to Equity 0.00 0.87 0.75
Total Debt to Equity 0.03 0.93 1.03
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Krispy Kreme Doughnuts TRADING & PRICE PERFORMANCE Page 4 of 10
INSTITUTIONAL OWNERSHIP INSIDER TRADING (Prev. 6 months)
% Shares Out. Owned 45.02 % Net Insider Trades 0
# of Institutions 140 # Buy Transactions 0
Total Shs Held 12.020 Mil # Sell Transactions 0
3 Mo. Net Purch. 6.833 Mil Net Shares Bought 0.000 Mil
3 Mo. Shs Purch. 7.631 Mil # Shares Bought 0.000 Mil
3 Mo. Shs Sold 0.798 Mil # Shares Sold 0.000 Mil
4 Week Price % Change 19.2% 4 Week Rel. Price % Change 26.8%
13 Week Price % Change 121.8% 13 Week Rel. Price % Change 110.2%
26 Week Price % Change 106.8% 26 Week Rel. Price % Change 123.4%
52 Week Price % Change 137.4% 52 Week Rel. Price % Change 186.3%
YTD Week Price % Change 83.4% YTD Week Rel. Price % Change 99.4%
SHORT INTEREST
Current month 12.822 Mil
Previous month 19.708 Mil
Avg Daily Vol. 1.096 Mil
MARKET MAKERS: NYSE
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Krispy Kreme Doughnuts EQUITY, OFFICERS & ADDRESS Page 5 of 10
Common Stock no Par, 6/01, 100M auth., 53,609,588 issd.
Insiders control approx. 29%. IPO: 4/5/00, 3M shares @
$21 per share by Deutsche Bank Alex. Brown. PO: 1/01, 2.3M
shares @ $67 by Deutsche Banc Alex. Brown. 6/01, 3/01,
2-for-1 stock splits. *All share amounts prior to IPO are
pro-forma. *5/01, Exchange changed from NASDAQ to NYSE.
OFFICERS: Scott A. Livengood, Chmn./Pres./CEO, John N.
McAleer, Vice Chmn./Exec. VP, John Tate, CFO, Randy S.
Casstevens, Sr. VP-Fin./Secy. TRANSFER AGENT: Branch
Banking and Trust Company. Company incorporated 1999 in NC.
Direct inquiries to: Director of Investor Relations.
ADDRESS & PHONE NUMBERS
Krispy Kreme Doughnuts
370 Knollwood Street
Suite 500
Winston-Salem, NC 27103
PHONE: (336) 725-2981
FAX: (336) 733-3794
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Krispy Kreme Doughnuts ANNUAL INCOME STATEMENT Page 6 of 10
(Thousands of U.S. Dollars)
52W 02/01/98 52W 01/31/99 52W 01/30/00 52W 01/28/01
Total Revenues 158,743 180,880 220,243 300,715
Total Revenue 158,743 180,880 220,243 300,715
Operating Expenses 140,207 159,941 190,003 250,690
General/Admin. 9,530 10,897 14,856 20,061
Depreciation/Amort. 3,586 4,278 4,546 6,457
Prov./Restructuring 0 9,466 0 0
Total Expenses 153,323 184,582 209,405 277,208
Operating Income 5,420 -3,702 10,838 23,507
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Krispy Kreme Doughnuts ANNUAL INCOME STATEMENT Page 7 of 10
(Thousands of U.S. Dollars)
52W 02/01/98 52W 01/31/99 52W 01/30/00 52W 01/28/01
Operating Income 5,420 -3,702 10,838 23,507
Interest Expense -1,603 -1,507 -1,525 -607
Other, Net 708 -70 293 883
Income Before Taxes 4,525 -5,279 9,606 23,783
Income Taxes 1,811 -2,112 3,650 9,058
Income After Taxes 2,714 -3,167 5,956 14,725
Pri/Bas EPS Ex. XOrd 0.093 -0.096 0.159 0.299
Pri/Bas EPS In. XOrd 0.093 -0.096 0.159 0.299
Primary/Basic Avg Sh 29,137.68 32,996.72 37,360.88 49,183.92
Common Dividends/Shr 0.0000 0.0000 0.0000 0.0000
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Krispy Kreme Doughnuts SELECTED INCOME STATEMENT Page 8 of 10
(Thousands of U.S. Dollars)
QUARTERS YEAR TO DATE
13W 04/30/00 13W 04/29/01 13W 04/30/00 13W 04/29/01
RSTD04/29/01 RSTD04/29/01
Revenue 70,870 87,921 70,870 87,921
Operating Expenses 65,194 79,289 65,194 79,289
Operating Income 5,676 8,632 5,676 8,632
Non-Operating Income -262 630 -262 630
Non-Operating Expenses -480 -39 -480 -39
Income Before Taxes 4,934 9,223 4,934 9,223
Income Taxes 1,901 3,504 1,901 3,504
Adjustments to Income 0 0 0 0
Inc. for Primary EPS 3,033 5,719 3,033 5,719
Pri/Bas EPS Ex. XOrd 0.073 0.108 0.073 0.108
Disc Opns + Xord Items 0 0 0 0
Pri/Bas EPS In. XOrd 0.073 0.108 0.073 0.108
Primary/Basic Avg Sh 41,448.00 53,134.00 41,448.00 53,134.00
Dilutd EPS Excl XOrd 0.067 0.099 0.067 0.099
Dilutd EPS Incl XOrd 0.067 0.099 0.067 0.099
Common Dividends/Shr 0.000 0.000 0.000 0.000
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Krispy Kreme Doughnuts SELECTED BALANCE SHEET Page 9 of 10
(Thousands of U.S. Dollars)
YEAR ENDING QUARTER ENDING
01/30/00 01/28/01 04/30/00 04/29/01
Cash & ST Investments 3,183 25,129 19,115 46,064
Receivables 20,367 24,733 27,032 27,728
Total Current Assets 41,038 67,611 60,894 91,908
LT Investments 0 22,572 17,854 16,240
Fixed Assets 60,584 78,340 64,085 85,464
Total Assets 104,958 171,493 151,035 200,190
Accounts Payable 13,106 14,697 18,488 15,671
ST Debt & Curr LTD 2,400 3,526 0 4,400
Total Current Liab. 36,591 38,168 31,109 37,012
LT Debt & Cap Leases 20,502 0 0 0
Total Liabilities 64,208 45,814 38,577 45,634
Preferred Stock 0 0 0 0
Common/Paid In Capital 15,475 85,060 77,199 108,741
Retained Earnings 27,822 42,547 37,879 48,266
Total Equity 40,750 125,679 112,458 154,556
Shares Outstanding 37,361 51,832 51,740 53,496
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Krispy Kreme Doughnuts SELECTED STMT OF CASH FLOWS Page 10 of 10
INDIRECT METHOD (Thousands of U.S. Dollars)
ANNUAL YEAR TO DATE
52W 01/30/00 52W 01/28/01 13W 04/30/00 13W 04/29/01
Net Income 5,956 14,725 3,033 5,719
Depreciation & Amort. 4,546 6,479 1,595 1,884
Non Cash Items 1,270 3,428 483 3,897
Total Operating CF 8,980 30,576 9,533 7,442
Capital Expenditures -11,335 -25,655 -5,355 -8,956
Total Investing CF -10,026 -67,288 -35,832 -13,911
Dividends Paid 0 0 0 0
Sale (Purch.) of Stock 0 66,336 65,691 19,858
Net Borrowings 1,882 -19,375 -22,902 874
Total Financing CF -84 40,555 36,235 20,769
Exchange Rate Effect 0 0 0 0
Net Change In Cash -1,130 3,843 9,936 14,300
Oper CF-Cap Exp-Div Pd -2,355 4,921 4,178 -1,514
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