Krispy Kreme Doughnuts estimates losses in fourth fiscal quarter of 2008

Krispy Kreme Doughnuts estimates losses in fourth fiscal quarter of 2008
Krispy Kreme Doughnuts estimates losses in fourth fiscal quarter of 2008

Krispy Kreme Doughnuts, Inc. (NYSE: KKD) announced that its losses increased in the fourth fiscal quarter of 2008.

The Winston-Salem company famous for its traditional glazed doughnut estimated the loss at $31.8 million, or 50 cents per share. Last year the company lost only $24.4 million, or 39 cents per share.

As for revenue, it has dropped a bit since last year and constitutes now $110.9 million. The implementation of an extra 14th week doesn’t seem to improve the situation.

The company’s share value dropped two-thirds in the past 12 months.

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