Business

Business In Brief - September 7, 2007

Mark Pack elected to young bankers group

Mark Pack, chief credit officer at Provident Community Bank, has been elected to the board of the South Carolina Bankers Association's Young Bankers Division. His two-year term ends in 2009.

The SCAB Young Bankers Division provides leadership development training, serves as a forum for networking and helps bankers educate the public about banking, personal finance and careers in banking.

Surreal Body Solutions opens in Fort Mill

FORT MILL-- Zeke Samples and Anthony Burkett recently opened Surreal Body Solutions at 3410 S.C. 51 off Carowinds Boulevard.

The business, which employs five, offers personal training, nutritional guidance, cardiac rehabilitation, athletic conditioning, pre- and post-natal programs and weight management. A licensed massage therapist is available as well as weight and cardio machines.

Samples has more than 10 years' experience in body shaping, weight management and nutritional education. Trainers are Ryan Lowman, who specializes in cardiac rehabilitation; and Rhonda Sloan, who provides the pre- and post-natal programs.

Hours are 5 a.m. to 9 p.m. by appointment.

For more information, call 980-721-6000, e-mail info@surrealbodysolutions.com or visit the Web site at www.SurrealBodySolutions.com.

Lake Wylie after hours set for Thursday

LAKE WYLIE -- The Lake Wylie Chamber of Commerce will host a business after hours from 5:30 to 7:30 p.m. Thursday at Shoppes at the Landing, 585 Nautical Drive.

The event is sponsored by BB&T-Lake Wylie.

For chamber information, call Susan Bromfield at (803) 831-2827.

Lee Clinton Farms joins Angus Association

CLOVER -- Lee Clinton Farms of Clover has joined the American Angus Association, according to John Crouch, executive vice president of the national breed registry organization in Saint Joseph, Mo.

The American Angus Association records ancestral information and keeps production records on individual animals for its members.

More join agenda for 3D Systems conference

3D Systems, which uses three-dimensional technology and computer-aided software to design models and prototypes, announced that representatives of 3M, BMW Sauber and SC Johnson will give presentations at the 3D Systems World Conference to be Sept. 24 through 27.

The conference agenda, posted at www.3dworldconference.com, will offer classes, hands-on training sessions and presentations.

3D Systems has its headquarters at Waterford Business Park.

Krispy Kreme's losses widen in second quarter

CHARLOTTE -- Krispy Kreme Doughnuts said Thursday its fiscal second-quarter loss widened as the doughnut maker continues its recovery from a bad stumble several years ago.

"After several quarters of progress on our turnaround, second-quarter results did not meet our expectations," Chief Executive Daryl Brewster said in a statement accompanying the results.

For the quarter ending July 29, the Winston-Salem, N.C.-based doughnut maker said its loss widened to $27.04 million, or 42 cents per share, from $4.57 million, or 7 cents per share, a year earlier.

The results include $22.1 million in impairment charges and lease-termination costs.

Wall Street expected earnings of 3 cents per share on $110.1 million of sales, according to analysts polled by Thomson Financial. Analyst estimates typically exclude one-time items such as charges; Krispy Kreme didn't indicate what its results were excluding the impairment and lease costs.

Revenue for the quarter fell 7.5 percent to $104.1 million from $112.5 million a year earlier.

Krispy Kreme reported its earnings after markets closed Thursday. The company's management plans to discuss the results in a conference call Friday morning.

Krispy Kreme shares closed up 7 cents at $6.33. In the last 52 weeks, shares have traded from $6.10 to $13.93. The stock slipped 3 cents in after-hours electronic trading.

Three years ago, Krispy Kreme placed its well-known doughnuts on grocery store shelves and expanded rapidly, just as the low-carbohydrate diet craze set in. While sales slipped, Krispy Kreme executives were forced to sort out an accounting mess.

A stock that once traded at more than $50 bottomed out at about $4 in late 2005, and the company's board ousted two former executives it said were trying to "manage earnings" to meet Wall Street expectations.

Krispy Kreme has since worked to bring its financial statements up to date with the U.S. Securities and Exchange Commission. The company filed its last overdue statement in January. Last month the company shuffled executive slots and said it would realign its franchise and company store operations.

The reorganization would help the embattled doughnut maker improve sales and cut costs, executives said at the time.

However, it appears that several franchisees have been experiencing financial pressures which, in certain instances, seem to have been "exacerbated during the second quarter," the company said Thursday.

While 19 Krispy Kreme stores were opened in the quarter, 12 stores were closed systemwide. Krispy Kreme said that the closure of "a significant number of additional franchise stores is likely" during the balance of the fiscal year.

"We are taking steps to transform the company and improve its performance," Brewster said.

On the Net:

Krispy Kreme Doughnuts Inc.: http://www.krispykreme.com

Fax news to Annette Cherry at 329-4021; mail The Herald, Business News, P.O. 11707, Rock Hill, SC 29731; call 909-4209; or e-mail acherry@heraldonline.com.

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