10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-005931`
Period End Date	20170331
Filing Date	20170526
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	brid-20170414.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 37 Cash Flow Statement 54

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$21.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.27M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.44M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Inventories, reserves	`InventoryValuationReserves`	$308.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.54M	USD	Point-in-time
Inventories, reserves	`InventoryValuationReserves`	$228.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.99M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $21 and $17, respectively, and promotional allowances of $2,444 and $2,271, respectively	`AccountsReceivableNetCurrent`	$16.58M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$62.33M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $21 and $17, respectively, and promotional allowances of $2,444 and $2,271, respectively	`AccountsReceivableNetCurrent`	$13.37M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$62.11M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories, less inventory reserves of $228 and $308, respectively (Note 2)	`InventoryNet`	$18.33M	USD	Point-in-time
Inventories, less inventory reserves of $228 and $308, respectively (Note 2)	`InventoryNet`	$24.08M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$937.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.14M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$48.59M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$47.38M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $62,109 and $62,330 respectively	`PropertyPlantAndEquipmentNet`	$10.36M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $62,109 and $62,330 respectively	`PropertyPlantAndEquipmentNet`	$16.49M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$14.20M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.78M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$14.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$14.53M	USD	Point-in-time
Total assets	`Assets`	$79.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Total assets	`Assets`	$87.25M	USD	Point-in-time
Total assets	`Assets`	$92.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.29M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.66M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$3.92M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$4.39M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$130.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$130.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.47M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$36.44M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$36.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$48.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$49.90M	USD	Point-in-time
Commitments and contingencies (Note 3)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 3)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, without par value; authorized - 1,000 shares; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, without par value; authorized - 1,000 shares; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $1.00 par value; authorized - 20,000 shares; issued and outstanding - 9,076 and 9,076 shares, respectively	`CommonStockValue`	$9.13M	USD	Point-in-time
Common stock, $1.00 par value; authorized - 20,000 shares; issued and outstanding - 9,076 and 9,076 shares, respectively	`CommonStockValue`	$9.13M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$8.30M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$8.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$51.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.07M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$38.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$42.70M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$87.25M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$92.60M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$67.30M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$31.14M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$74.18M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$34.10M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$46.31M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$21.14M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$18.91M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$41.29M	USD	2 Qtrs
Gross margin	`GrossProfit`	$26.01M	USD	2 Qtrs
Gross margin	`GrossProfit`	$12.96M	USD	1 Quarter
Gross margin	`GrossProfit`	$12.23M	USD	1 Quarter
Gross margin	`GrossProfit`	$27.87M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.76M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.39M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.93M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$20.44M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.57M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.47M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.03M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.48M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$979.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$1.69M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$714.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.21M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.36M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.79M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.42	USD	2 Qtrs
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.37	USD	2 Qtrs
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.16	USD	1 Quarter
Net income per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.08M	shares	1 Quarter
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.08M	shares	1 Quarter
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.08M	shares	2 Qtrs
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	9.08M	shares	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.36M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.79M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.49M	USD	1 Quarter
Depreciation	`Depreciation`	$1.43M	USD	2 Qtrs
Depreciation	`Depreciation`	$1.46M	USD	2 Qtrs
Provision for losses on (recovery on) accounts receivable	`ProvisionForDoubtfulAccounts`	$-130.00K	USD	2 Qtrs
Provision for losses on (recovery on) accounts receivable	`ProvisionForDoubtfulAccounts`	$14.00K	USD	2 Qtrs
Reduction in for promotional allowances	`ReductionForPromotionalAllowances`	$-229.00K	USD	2 Qtrs
Reduction in for promotional allowances	`ReductionForPromotionalAllowances`	$-173.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$7.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$28.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.37M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$117.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-5.75M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.40M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$708.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$1.20M	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$429.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-84.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$206.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.08M	USD	2 Qtrs
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-205.00K	USD	2 Qtrs
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.04M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$864.00K	USD	2 Qtrs
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$380.00K	USD	2 Qtrs
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$872.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.18M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.54M	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$28.00K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.58M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.56M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00M	USD	2 Qtrs
Shares repurchased	`PaymentsForRepurchaseOfCommonStock`	$40.00K	USD	2 Qtrs
Shares repurchased	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$73.00K	USD	2 Qtrs
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$68.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-113.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-68.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.42M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.56M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.99M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$1.56M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$2.54M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.