Krispy Kreme cuts full-year adjusted earnings outlook

June 2 Mon Jun 2, 2014 4:48pm EDT

June 2 (Reuters) - Krispy Kreme Doughnuts Inc cut its adjusted earnings forecast for the full year as it expects a rise in costs related to technology upgrades and management changes, sending its shares down 9 percent in extended trading.

The company cut its fiscal 2015 adjusted earnings forecast to 69-74 cents per share from 73-79 cents.

Analysts on average were expecting earning of 78 cents per share, according to Thomson Reuters I/B/E/S.

Krispy Kreme, best known for its glazed doughnuts, said revenue for the first quarter ended May 4 rose 0.79 percent to $121.58 million.

Krispy Kreme's shares closed at $19.00 on the New York Stock Exchange on Monday. (Reporting by Shailaja Sharma in Bangalore; Editing by Don Sebastian)