10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001493152-19-003036`
Period End Date	20190131
Filing Date	20190308
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	brid-20190125.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 20 Cash Flow Statement 54 Stockholders Equity 11

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$33.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.12M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.18M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$67.30M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$66.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.20M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $52 and $33, respectively, and promotional allowances of $2,554 and $2,122, respectively	`AccountsReceivableNetCurrent`	$20.29M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $52 and $33, respectively, and promotional allowances of $2,554 and $2,122, respectively	`AccountsReceivableNetCurrent`	$21.32M	USD	Point-in-time
Inventories, net	`InventoryNet`	$21.76M	USD	Point-in-time
Inventories, net	`InventoryNet`	$23.41M	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`	$895.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.33M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$53.18M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$53.22M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $67,296 and $66,337, respectively	`PropertyPlantAndEquipmentNet`	$32.64M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $67,296 and $66,337, respectively	`PropertyPlantAndEquipmentNet`	$38.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$11.62M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$11.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Deferred income taxes (Note 5)	`DeferredTaxAssetsNetNoncurrent`	$4.01M	USD	Point-in-time
Deferred income taxes (Note 5)	`DeferredTaxAssetsNetNoncurrent`	$4.01M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Total assets	`Assets`	$101.49M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Total assets	`Assets`	$92.09M	USD	Point-in-time
Total assets	`Assets`	$107.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.66M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.32M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$4.58M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$878.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$155.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	-	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	-	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$944.00K	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$5.09M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$5.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.41M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	-	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	-	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$6.56M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$17.45M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$21.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.13M	USD	Point-in-time
Contingencies and commitments (Note 3)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, without par value; authorized - 1,000,000 shares; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, without par value; authorized - 1,000,000 shares; issued and outstanding - none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $1.00 par value; authorized - 20,000,000 shares; issued and outstanding - 9,078,832 and 9,078,832 shares, respectively	`CommonStockValue`	$9.13M	USD	Point-in-time
Common stock, $1.00 par value; authorized - 20,000,000 shares; issued and outstanding - 9,078,832 and 9,078,832 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`	$65.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$67.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-17.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$56.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$65.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.56M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$107.68M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$101.49M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$45.04M	USD	1 Quarter
Net sales	`Revenues`	$41.19M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$27.23M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$29.39M	USD	1 Quarter
Gross margin	`GrossProfit`	$15.65M	USD	1 Quarter
Gross margin	`GrossProfit`	$13.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.87M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.09M	USD	1 Quarter
Gain on sale of property, plant & equipment	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
Gain on sale of property, plant & equipment	`GainLossOnSaleOfOtherAssets`	$-7.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.57M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.72M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$691.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic earnings (loss) per share	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Shares used to compute basic earnings (loss) per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter
Shares used to compute basic earnings (loss) per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Depreciation	`Depreciation`	$959.00K	USD	1 Quarter
Depreciation	`Depreciation`	$878.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$35.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$23.00K	USD	1 Quarter
(Reduction in) provision for promotional allowances	`ReductionInProvisionForPromotionalAllowances`	$-432.00K	USD	1 Quarter
(Reduction in) provision for promotional allowances	`ReductionInProvisionForPromotionalAllowances`	$23.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$7.00K	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	$3.20M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.34M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$622.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.65M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$754.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$9.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$-436.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-10.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$528.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-242.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-479.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.15M	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-560.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$723.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.28M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.99M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$713.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.24M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.19M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.62M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.61M	USD	1 Quarter
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Payment of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$35.00K	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$7.50M	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.50M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.02M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.89M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.11M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$12.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.22M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.20M	USD	1 Quarter

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$56.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time
Net income loss	`NetIncomeLoss`	$-1.63M	USD	1 Quarter
Net income loss	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Reclassification upon early adoption of ASU 2018-02	`ReclassificationUponEarlyAmount`	-	USD	1 Quarter
Changes in pension liability and benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	1 Quarter
Changes in pension liability and benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$54.41M	USD	1 Quarter
Balance	`StockholdersEquity`	$56.04M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time

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