Circle K Corp.: The Phoenix-based convenience store...

Circle K Corp.: The Phoenix-based convenience store chain said first-quarter net income fell 39% to $7.6 million from a year ago. Revenue rose 24% to $1.02 billion. The company said higher interest and depreciation costs related to an expansion program kept profits lower than in last year’s first quarter. However, it also noted that after losing money in the final quarter of fiscal 1989, the company did return to profitability.