Krispy Kreme files overdue financial results for 2nd and 3rd-Q

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WINSTON-SALEM, N.C. Krispy Kreme Doughnuts Inc. filed with regulators late last week its overdue financial results for the second and third quarters of the company’s fiscal year 2007, which ends Jan. 28. As previously reported, Krispy Kreme filed losses for both periods on falling revenue from slowed retail and wholesale sales and reduced revenue from the franchisor’s sale of doughnut mix and equipment to its franchisees.

The company also had closed 48 stores in the nine months ended Oct. 29, according to its filings. The quarterly corporate losses, however, were narrower than year-earlier net losses, on reduced impairment charges and lower total operating expenses. For the company’s second quarter ended July 30, Krispy Kreme reported a loss of $4.6 million, or 7 cents a share, versus a loss of $14.9 million, or 24 cents a share, a year earlier. Revenue for the quarter was $112.5 million, down 19.5 percent from the year-earlier quarter. For the third quarter ended Oct. 29, the company reported a loss of $7.2 million, or 12 cents a share, versus a loss of $29.7 million, or 48 cents a share, a year earlier. Revenue for the quarter fell 9.1 percent from a year ago to $117.1 million. Krispy Kreme currently operates or franchises about 390 namesake locations.