10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-003513`
Period End Date	20200131
Filing Date	20200306
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	brid-20200124.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 20 Cash Flow Statement 58 Stockholders Equity 10

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$57.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.97M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$3.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$54.02M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$54.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.48M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57 and $31, respectively, and promotional allowances of $3,750 and $2,974, respectively	`AccountsReceivableNetCurrent`	$21.88M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $57 and $31, respectively, and promotional allowances of $3,750 and $2,974, respectively	`AccountsReceivableNetCurrent`	$24.11M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$26.37M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$26.35M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$52.77M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total current assets	`AssetsCurrent`	$53.48M	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 $54,544 and $54,015, respectively	`PropertyPlantAndEquipmentNet`	$54.35M	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 $54,544 and $54,015, respectively	`PropertyPlantAndEquipmentNet`	$59.38M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$12.70M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$12.29M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes (Note 5)	`DeferredIncomeTaxAssetsNet`	$4.05M	USD	Point-in-time
Deferred income taxes (Note 5)	`DeferredIncomeTaxAssetsNet`	$4.05M	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`	$129.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Total assets	`Assets`	$107.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Total assets	`Assets`	$123.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.14M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$5.21M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$5.48M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$680.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$90.00K	USD	Point-in-time
Current lease payable	`CapitalLeaseObligationsCurrent`	$99.00K	USD	Point-in-time
Current lease payable	`CapitalLeaseObligationsCurrent`	$95.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$1.94M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$2.48M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$944.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$4.50M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$4.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.94M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$11.80M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$14.70M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$6.56M	USD	Point-in-time
Long-term lease payable	`CapitalLeaseObligationsNoncurrent`	$343.00K	USD	Point-in-time
Long-term lease payable	`CapitalLeaseObligationsNoncurrent`	$360.00K	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$24.87M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$23.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$61.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$56.97M	USD	Point-in-time
Contingencies and commitments (Note 3)	`CommitmentsAndContingencies`	-	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 - 9,076,832 and 9,076,832 shares, respectively	`CommonStockValue`	$9.13M	USD	Point-in-time
Common stock, $1.00 par value; authorized - 20,000,000 shares; issued and outstanding - 9,076,832 and 9,076,832 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`	$74.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$72.43M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.38M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.38M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$65.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$68.34M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$66.48M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$123.46M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$129.61M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$46.64M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$45.04M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$31.59M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$29.39M	USD	1 Quarter
Gross margin	`GrossProfit`	$15.05M	USD	1 Quarter
Gross margin	`GrossProfit`	$15.65M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.09M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.62M	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.57M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.45M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$691.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$590.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Shares used to compute basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter
Shares used to compute basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Depreciation	`Depreciation`	$1.13M	USD	1 Quarter
Depreciation	`Depreciation`	$959.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$23.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$27.00K	USD	1 Quarter
Reduction in promotional allowances	`ReductionInPromotionalAllowances`	$-776.00K	USD	1 Quarter
Reduction in promotional allowances	`ReductionInPromotionalAllowances`	$-432.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-13.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income taxes, net	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.48M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$622.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.65M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-19.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpensesOther`	$734.00K	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`	$403.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-479.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-857.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.87M	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.15M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$590.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$723.00K	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.48M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-2.28M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.99M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$713.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$13.00K	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`	$6.17M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.16M	USD	1 Quarter
Payment of lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$13.00K	USD	1 Quarter
Payment of lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$7.50M	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$8.25M	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$319.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.50M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.92M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.23M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.02M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25M	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`	$3.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.18M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$141.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$183.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.88M	USD	1 Quarter
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time

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