Bridgford Foods Corporation (Nasdaq:BRID) today reported sales for the first quarter (12 weeks) ended January 26, 2007 were $32,314,000, a decrease of 6.5% compared to sales in the first twelve weeks of the prior fiscal year. The Company reported net income of $40,000 in the first quarter of fiscal year 2007, an improvement of $177,000, compared to a net loss of $137,000 in the same quarter of fiscal year 2006.
Bridgford Foods Corporation is a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products.
| BRIDGFORD FOODS CORPORATION | ||||
| FINANCIAL HIGHLIGHTS | ||||
| (UNAUDITED) | ||||
12 Weeks Ended | 12 Weeks Ended | |||
| Jan 26, 2007 | Jan 20, 2006 | |||
| Sales | $ 32,314,000 | $ 34,575,000 | ||
| Cost of sales | $ 21,556,000 | $ 23,553,000 | ||
| Selling, general & administrative expenses | $ 9,921,000 | $ 10,370,000 | ||
| Depreciation | $ 782,000 | $ 892,000 | ||
| Income (loss) before taxes | $ 55,000 | $ (240,000) | ||
| Income tax provision (benefit) | $ 15,000 | $ (103,000) | ||
| Net income (loss) | $ 40,000 | $ (137,000) | ||
| Basic earnings per share | $ 0.00 | $ (0.01) | ||
| Average shares outstanding | 9,955,000 | 9,973,000 | ||
