Source Pravda.Ru

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.