Krispy Kreme posts a profit

WINSTON-SALEM N.C. Krispy Kreme Doughnuts Inc. posted net income of $4 million for the first quarter ended May 4 as the chain continued to shift its operations overseas. The profit of 6 cents per share compares with a loss of $7.4 million, or 12 cents a share, for the year-ago quarter, when the doughnut company took a charge of $9.6 million for debt refinancing.

Revenues for the quarter were $103.6 million, a decline of 6.6 percent from the comparable quarter of th

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