10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-003182`
Period End Date	20180131
Filing Date	20180309
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	brid-20180126.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 18 Cash Flow Statement 50 Stockholders Equity 7

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$58.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$30.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.54M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.52M	USD	Point-in-time
Inventories, reserves	`InventoryValuationReserves`	$358.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.99M	USD	Point-in-time
Inventories, reserves	`InventoryValuationReserves`	$432.00K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $58 and $30, respectively, and promotional allowances of $2,515 and $2,537, respectively	`AccountsReceivableNetCurrent`	$19.15M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$63.72M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $58 and $30, respectively, and promotional allowances of $2,515 and $2,537, respectively	`AccountsReceivableNetCurrent`	$17.75M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$64.53M	USD	Point-in-time
Inventories, less inventory reserves of $432 and $358, respectively (Note 2)	`InventoryNet`	$23.02M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Inventories, less inventory reserves of $432 and $358, respectively (Note 2)	`InventoryNet`	$23.77M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.56M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$55.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$50.30M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $64,532 and $63,722, respectively	`PropertyPlantAndEquipmentNet`	$21.31M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $64,532 and $63,722, respectively	`PropertyPlantAndEquipmentNet`	$18.57M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.64M	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`	$13.11M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes (Note 5)	`DeferredTaxAssetsNetNoncurrent`	$10.04M	USD	Point-in-time
Deferred income taxes (Note 5)	`DeferredTaxAssetsNetNoncurrent`	$6.84M	USD	Point-in-time
Total assets	`Assets`	$97.55M	USD	Point-in-time
Total assets	`Assets`	$92.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Total assets	`Assets`	$89.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	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`	$5.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.12M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.38M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.55M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$6.11M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$5.69M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$216.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$216.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.24M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$25.26M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$22.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.51M	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`	$57.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$56.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-18.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-20.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$56.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$54.41M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$92.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$97.55M	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$40.08M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$41.19M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$25.17M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$27.23M	USD	1 Quarter
Gross margin	`GrossProfit`	$13.96M	USD	1 Quarter
Gross margin	`GrossProfit`	$14.91M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.46M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.86M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.10M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.45M	USD	1 Quarter
Income tax provision (Note 5 Income Taxes)	`IncomeTaxExpenseBenefit`	$3.72M	USD	1 Quarter
Income tax provision (Note 5 Income Taxes)	`IncomeTaxExpenseBenefit`	$976.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.47M	USD	1 Quarter
Net (loss) income per share - Basic and diluted	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Net (loss) income per share - Basic and diluted	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter
Weighted average common shares - Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.47M	USD	1 Quarter
Depreciation	`Depreciation`	$878.00K	USD	1 Quarter
Depreciation	`Depreciation`	$687.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$35.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.00K	USD	1 Quarter
Provision for (reduction in) promotional allowances	`ProvisionForPromotionalAllowances`	$-254.00K	USD	1 Quarter
Provision for (reduction in) promotional allowances	`ProvisionForPromotionalAllowances`	$23.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$4.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$7.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$33.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.34M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.91M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$754.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$588.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$9.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$528.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$279.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-242.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-117.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$877.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-560.00K	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.09M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.99M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.24M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.58M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.04M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.62M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.61M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.04M	USD	1 Quarter
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$35.00K	USD	1 Quarter
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$33.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-33.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.51M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.89M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.50M	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`	$7.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.50M	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`	$1.20M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.29M	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$56.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.41M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$2.47M	USD	1 Quarter
Reclassification upon early adoption of ASU 2018-02 (Note 5)	`ReclassificationUponEarlyAdoptionOfAccountingStandardUpdate`	-	USD	1 Quarter
Balance	`StockholdersEquity`	$56.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.41M	USD	Point-in-time

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