Krispy Kreme files overdue financials |
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Fri, 19 Jan 2007 23:42
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CHARLOTTE, N.C. (AFX) - Krispy Kreme Doughnuts Inc. filed its overdue financial statements Friday for the second and third quarters of its fiscal year 2007 that ends this month.For the second quarter ended July 30, the Winston-Salem, N.C.-based company reported a loss of $4.6 million, or 7 cents per share, compared with a loss of $14.9 million, or 24 cents per share, a year earlier. Revenue for the quarter was $112.5 million, down from $139.8 million a year ago.For the third quarter ended Oct. 29, Krispy Kreme reported a loss of $7.2 million, or 12 cents per share, compared with a loss of $29.7 million, or 48 cents a share, a year earlier. Revenue for the quarter was $117.1 million, down from $128.8 million a year ago.Krispy Kreme executives have been sorting out accounting problems. A stock that once traded above $50 bottomed out last year below $5, and the company's board ousted two former executives it concluded were trying to 'manage earnings' to meet Wall Street expectations.The company has yet to file a report covering the third quarter of fiscal 2005.Krispy Kreme filed the reports with the Securities and Exchange Commission after markets closed Friday.Shares fell 9 cents to close at $11.48 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Krispy Kreme files late earnings reports 