This earnings report viewed favorably against the 12 cent per share 1Q loss from the year prior.
Krispy Kreme Losses Widen in 2QBy IEVA M. AUGSTUMS – Sep 6, 2007 CHARLOTTE, N.C. (AP) — Krispy Kreme Doughnuts Inc. said Thursday its fiscal second-quarter loss widened as the doughnut maker continues its recovery from a bad stumble several years ago."After several quarters of progress on our turnaround, second quarter results did not meet our expectations," Chief Executive Daryl Brewster said in a statement accompanying the results.For the quarter ending July 29, the Winston-Salem-based doughnut maker said its loss widened to $27.04 million, or 42 cents per share, from $4.57 million, or 7 cents per share, a year earlier.The results include $22.1 million in impairment charges and lease-termination costs.Wall Street expected earnings of 3 cents per share on $110.1 million of sales, according to analysts polled by Thomson Financial. Analyst estimates typically exclude one-time items such as charges; Krispy Kreme didn't indicate what its results were excluding the impairment and lease costs.Revenue for the quarter fell 7.5 percent to $104.1 million from $112.5 million a year earlier.Krispy Kreme reported its earnings after markets closed Thursday. The company's management plans to discuss the results in a conference call Friday morning.Krispy Kreme shares closed up 7 cents at $6.33. In the last 52 weeks, shares have traded from $6.10 to $13.93. The stock slipped 3 cents in after-hours electronic trading.