U.S. News

Krispy Kreme Reports Delayed Earnings

By Insert Byline

Krispy Kreme Doughnuts posted a first-quarter loss and said revenue fell slightly less than expected in a much-delayed quarterly report filed with U.S. regulators.

The struggling doughnut chain posted a loss of $6 million, or 10 cents a share, for the quarter ended April 30, compared to a loss of $53.4 million, or 86 cents a share, a year earlier.

Revenue fell 21.7% to $119.4 million.

In June, Krispy Kreme said it expected to post a 24% drop in revenue, due in part to lower sales to franchisees, and a loss on costs associated with legal and regulatory problems for the quarter.

Krispy Kreme previously said it could not file its quarterly report because it devoted substantial resources to completing its annual report for 2005.