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  • Krispy Kreme Reports 79 Percent Drop in Third Quarter Earnings

    11/22/2004 8:43:00 AM PST · by Tumbleweed_Connection · 81 replies · 1,800+ views
    TBO ^ | Nov 22, 2004
    Shares of Krispy Kreme Doughnuts Inc.'s fell sharply Monday as a 79 percent plunge in third quarter earnings and an intensifying accounting investigation overshadowed the pastry maker's statement that the low-carb craze might be easing. The Winston-Salem-based company also withdrew its sales forecast and said it would not provide an outlook for the current quarter and 2005. Losses for the quarter were $3 million, or 5 cents per share, from a profit of $14.5 million, or 23 cents per share, a year ago. Excluding the one-time charges related to discontinued operations, the company earned $2.4 million, or 4 cents per...