Krispy Kreme catches up with SEC filings |
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Tue, 30 Jan 2007 01:06
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CHARLOTTE, N.C. (AFX) - Krispy Kreme Doughnuts Inc. filed its last overdue financial statement Monday for the third quarter of its fiscal year 2005, bringing the company up to date in its reporting obligations with the U.S. Securities and Exchange Commission.For the quarter ending Oct. 31, 2004, the Winston-Salem-based doughnut maker reported a loss of $142.5 million, or $2.31 per share, compared with a profit of $14.05 million, or 22 cents per share, a year earlier. Revenue for the quarter was $174.4 million, up from $165 million a year earlier.The loss is attributable to a total write-off in the quarter of $142.7 million, which included impairment charges and store closing costs.The numbers come as the company prepares for its annual shareholder meeting Wednesday.A former stock market darling, Krispy Kreme stumbled badly three years ago as the company expanded during the height of the low-carbohydrate diet craze.While sales were slipping, Krispy Kreme executives were busy with sorting out the accounting mess. A stock that once traded at more than $50 bottomed out last year at about $4, and the company's board ousted two former executives it concluded were trying to 'manage earnings' to meet Wall Street expectations.Krispy Kreme filed the reports with the SEC after markets closed Monday. Company shares rose 2 cents, or 0.16 percent, to close at $12.90 on the New York Stock Exchange.In the past 52 weeks, shares have traded in range from $5.22 to $13.93.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Krispy Kreme files all financial reports 