L.L. Knickerbocker’s Quarterly Loss Grows

Struggling L.L. Knickerbocker Co. Inc. said it lost $700,000 more in the first quarter than was previously reported.

The Lake Forest company, which sells collectibles, toys and jewelry, blamed the incorrect numbers on an improper tax credit. The change did not affect operating results, Chief Executive Louis L. Knickerbocker said.

The company had reported May 14 that its first-quarter net loss had narrowed to $1.57 million, or 6 cents a share. But late Wednesday, Knickerbocker reported that the loss was actually $2.27 million, or 9 cents a share, compared with a net loss of $2.6 million, or 14 cents a share, in the first quarter last year.

The company’s stock closed Thursday at 56 cents, down 3 cents, in Nasdaq trading.