Krause’s Restates Losses for Two Quarters

Krause’s Furniture Inc. said Friday that it amended its first- and second-quarter results, restating losses for both periods. The Brea manufacturer and retailer restated its per-share loss in the first quarter to 22 cents a share from 10 cents a share. The overall loss of nearly $2.2 million was unchanged. Krause’s restated its second-quarter to $4 million from $3.9 million, though its per-share loss of 18 cents remained unchanged. The restatements in both quarters stemmed from changes involving issues of its Series A convertible preferred stock.