• April 16, 2009

Krispy Kreme Doughnuts, Inc. reduced its net losses and showed operating profits for fiscal 2009, its first annual operating profit since 2004, the company has reported.

Krispy's full-year net loss was $4.1 million (six cents per share) compared to a $67.1 million loss ($1.05 per share) last fiscal. Q4 losses were $303,000 (under 1 cent per share), compared to a net loss of $31.8 million (50 cents per share) for Q4 '08.

Annual operating income was $4.8 million, compared to an operating loss of $42.6 million last year. Q4 operating income was $1.5 million, compared to an operating loss of $25.2 million in last year's fourth quarter.

Same-store sales at company-owned stores rose 0.9% in the Q4 and finished down 0.7% for the year.

In addition to cost-reduction and operations honing measures, the company and its franchisees have been introducing smaller retail concept shops and building scale to enable more integrated marketing and greater use of broadcast media in specific markets. --Karlene Lukovitz