(WINSTON-SALEM) -- Krispy Kreme Doughnuts, Inc. reported fiscal second quarter net income of $8.8 million. This compared to $2.2 million during the same period last year.

Net income for the second quarter of fiscal 2012 includes a gain on the sale of the Winston-Salem based company's equity interest in its Mexican franchisee of $4.7 million after tax. Cash provided by operating activities was $7.6 million compared to $3.7 million in the second quarter last year.

"Our second quarter performance was the best of any second quarter since fiscal 2005 and reflects the progress we've made in executing our strategic plans," said President and Chief Executive Officer James H. Morgan.  "We generated double-digit revenue growth in each of our business segments, doubled earnings per share excluding a nonrecurring gain of $0.06, and expanded the Krispy Kreme system with a net 17 new stores.  Moreover, our results were generated in the face of higher agricultural commodity prices, extreme temperatures, and much higher gas prices compared to the year ago period."

The Company also reaffirmed its fiscal 2012 outlook and announced that it will present at an investor conference on September 14, 2011.