Bridgford Foods Corporation (Nasdaq:BRID) today reported
sales for the second quarter (12 weeks) ended April 14, 2006 of
$28,305,000, an increase of 2.1% compared to sales in the second
twelve weeks of the prior fiscal year. The Company reported net income
of $72,000 in the second quarter of 2006 compared to a net loss of
$650,000 in the same quarter of 2005.
Sales for the first half (24 weeks) of the 2006 fiscal year were $62,880,000, a 2.6% increase compared to the same period in 2005. The Company incurred a net loss of $65,000 in the first half of 2006 compared to a net loss of $846,000 in the first half of last year. The gross margin increased slightly on a comparative basis due primarily to higher selling prices and lower meat commodity costs.
Bridgford Foods Corporation is a producer of frozen dough, microwaveable and shelf-stable sandwiches, dry sausages, processed meats and other convenience food products. -0- BRIDGFORD FOODS CORPORATION FINANCIAL HIGHLIGHTS (UNAUDITED) 12 Weeks Ended 12 Weeks Ended -------------- -------------- Apr 14, 2006 Apr 15, 2005 Sales $28,305,000 $27,714,000 Cost of sales $17,510,000 $17,860,000 Selling, general & administrative expenses $9,841,000 $9,874,000 Depreciation $892,000 $1,029,000 Gain on sale of equity securities $(106,000) -- Income (loss) before taxes $168,000 $(1,049,000) Income tax provision (benefit) $96,000 $(399,000) Net income (loss) $72,000 $(650,000) Basic income (loss) per share $0.01 $(0.07) Average shares outstanding 9,966,000 9,998,000 24 Weeks Ended 24 Weeks Ended -------------- -------------- Apr 14, 2006 Apr 15, 2005 Sales $62,880,000 $61,305,000 Cost of sales $41,063,000 $40,431,000 Selling, general & administrative expenses $20,211,000 $20,182,000 Depreciation $1,784,000 $2,057,000 Gain on sale of equity securities $(106,000) -- Loss before taxes $(72,000) $(1,365,000) Income tax benefit $(7,000) $(519,000) Net loss $(65,000) $(846,000) Basic loss per share $0.00 $(0.08) Average shares outstanding 9,970,000 9,999,000
Sales for the first half (24 weeks) of the 2006 fiscal year were $62,880,000, a 2.6% increase compared to the same period in 2005. The Company incurred a net loss of $65,000 in the first half of 2006 compared to a net loss of $846,000 in the first half of last year. The gross margin increased slightly on a comparative basis due primarily to higher selling prices and lower meat commodity costs.
Bridgford Foods Corporation is a producer of frozen dough, microwaveable and shelf-stable sandwiches, dry sausages, processed meats and other convenience food products. -0- BRIDGFORD FOODS CORPORATION FINANCIAL HIGHLIGHTS (UNAUDITED) 12 Weeks Ended 12 Weeks Ended -------------- -------------- Apr 14, 2006 Apr 15, 2005 Sales $28,305,000 $27,714,000 Cost of sales $17,510,000 $17,860,000 Selling, general & administrative expenses $9,841,000 $9,874,000 Depreciation $892,000 $1,029,000 Gain on sale of equity securities $(106,000) -- Income (loss) before taxes $168,000 $(1,049,000) Income tax provision (benefit) $96,000 $(399,000) Net income (loss) $72,000 $(650,000) Basic income (loss) per share $0.01 $(0.07) Average shares outstanding 9,966,000 9,998,000 24 Weeks Ended 24 Weeks Ended -------------- -------------- Apr 14, 2006 Apr 15, 2005 Sales $62,880,000 $61,305,000 Cost of sales $41,063,000 $40,431,000 Selling, general & administrative expenses $20,211,000 $20,182,000 Depreciation $1,784,000 $2,057,000 Gain on sale of equity securities $(106,000) -- Loss before taxes $(72,000) $(1,365,000) Income tax benefit $(7,000) $(519,000) Net loss $(65,000) $(846,000) Basic loss per share $0.00 $(0.08) Average shares outstanding 9,970,000 9,999,000