Bridgford Foods Corp. (BRID, Financial) filed Quarterly Report for the period ended 2009-04-17.
Bridgford Foods Corporation operates in one business segment - the manufacture and distribution of frozen refrigerated and snack food products. The products manufactured and distributed by Bridgford consist of an extensive line of food products including a variety of sliced luncheon meats and cheeses wieners bacon sandwiches dry sausages biscuits bread dough items and roll dough items. The products purchased by Bridgford for resale include a variety of jerky cheeses salads party dips Mexican foods nuts and other delicatessen type food products. Bridgford Foods Corp. has a market cap of $59.5 million; its shares were traded at around $6.31 with and P/S ratio of 0.5.
Cost of products sold in the Frozen Food Products Segment decreased by $728 (9.7%) to $6,783 in the second twelve weeks of the 2009 fiscal year compared to the same twelve-week period in fiscal year 2008. Lower flour costs contributed significantly to this decrease.
Cost of products sold decreased by $3,312 (8.9%) to $34,014 in the first twenty-four weeks of the 2009 fiscal year compared to the same twenty-four week period in fiscal 2008. The gross margin before depreciation increased from 33.6% to 40.5% in the first twenty-four weeks of the 2009 year fiscal year primarily due to lower commodity costs when compared to the same twenty-four week period in fiscal year 2008.
Cost of products sold in the Frozen Food Products Segment decreased by $1,310 (8.1%) to $14,951 in the first twenty-four weeks of the 2009 fiscal year compared to the same twenty-four week period in fiscal year 2008. Lower flour costs contributed significantly to this decrease.
April 17, 2009 Sources of cash included reductions in inventory of $1,050 and accounts receivable of $1,467. The increase in operating cash flows for the period ended April 17, 2009 included an increase in accounts payable of $982 and a decrease in other non-current assets of $72. During the period we funded $361 towards our defined benefit pension plan.
April 18, 2008- Operating cash flows increased primarily due to a reduction in inventories in the amount of $327 offset by an increase in prepaid expenses and other current assets in the amount of $423. During the period we funded $1,792 towards our defined benefit pension plan.
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Bridgford Foods Corporation operates in one business segment - the manufacture and distribution of frozen refrigerated and snack food products. The products manufactured and distributed by Bridgford consist of an extensive line of food products including a variety of sliced luncheon meats and cheeses wieners bacon sandwiches dry sausages biscuits bread dough items and roll dough items. The products purchased by Bridgford for resale include a variety of jerky cheeses salads party dips Mexican foods nuts and other delicatessen type food products. Bridgford Foods Corp. has a market cap of $59.5 million; its shares were traded at around $6.31 with and P/S ratio of 0.5.
Highlight of Business Operations:
Cost of products sold decreased by $1,678 (10.3%) to $14,671 in the second twelve weeks of the 2009 fiscal year compared to the same twelve-week period in fiscal 2008. The gross margin before depreciation increased from 34.3% to 42.8% in the second twelve weeks of the 2009 fiscal year due to higher selling prices, lower commodity costs and slight increases in the proportion of goods processed in Company facilities when compared to the same twelve-week period in fiscal year 2008.Cost of products sold in the Frozen Food Products Segment decreased by $728 (9.7%) to $6,783 in the second twelve weeks of the 2009 fiscal year compared to the same twelve-week period in fiscal year 2008. Lower flour costs contributed significantly to this decrease.
Cost of products sold decreased by $3,312 (8.9%) to $34,014 in the first twenty-four weeks of the 2009 fiscal year compared to the same twenty-four week period in fiscal 2008. The gross margin before depreciation increased from 33.6% to 40.5% in the first twenty-four weeks of the 2009 year fiscal year primarily due to lower commodity costs when compared to the same twenty-four week period in fiscal year 2008.
Cost of products sold in the Frozen Food Products Segment decreased by $1,310 (8.1%) to $14,951 in the first twenty-four weeks of the 2009 fiscal year compared to the same twenty-four week period in fiscal year 2008. Lower flour costs contributed significantly to this decrease.
April 17, 2009 Sources of cash included reductions in inventory of $1,050 and accounts receivable of $1,467. The increase in operating cash flows for the period ended April 17, 2009 included an increase in accounts payable of $982 and a decrease in other non-current assets of $72. During the period we funded $361 towards our defined benefit pension plan.
April 18, 2008- Operating cash flows increased primarily due to a reduction in inventories in the amount of $327 offset by an increase in prepaid expenses and other current assets in the amount of $423. During the period we funded $1,792 towards our defined benefit pension plan.
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