10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-010140`
Period End Date	20200430
Filing Date	20200529
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	brid-20200417.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 40 Cash Flow Statement 60 Stockholders Equity 16

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$152.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.97M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.80M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$55.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.48M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$54.02M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $152 and $31, respectively, and promotional allowances of $2,803 and $2,974, respectively	`AccountsReceivableNetCurrent`	$25.84M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $152 and $31, respectively, and promotional allowances of $2,803 and $2,974, respectively	`AccountsReceivableNetCurrent`	$21.88M	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`	$23.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$26.37M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.43M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	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`	$67.33M	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 $55,628 and $54,015, respectively	`PropertyPlantAndEquipmentNet`	$63.06M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $55,628 and $54,015, respectively	`PropertyPlantAndEquipmentNet`	$54.35M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$12.29M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$9.78M	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
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	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
Total assets	`Assets`	$123.46M	USD	Point-in-time
Total assets	`Assets`	$111.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Total assets	`Assets`	$144.22M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.08M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.83M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$5.48M	USD	Point-in-time
Accrued payroll, advertising and other expenses	`AccruedLiabilitiesCurrent`	$5.62M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$90.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$90.00K	USD	Point-in-time
Current lease payable	`FinanceLeaseLiabilityCurrent`	$95.00K	USD	Point-in-time
Current lease payable	`FinanceLeaseLiabilityCurrent`	$104.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$1.94M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$712.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$4.35M	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`	$4.34M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$3.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.66M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$6.56M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$26.85M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$11.80M	USD	Point-in-time
Long-term lease payable	`FinanceLeaseLiabilityNoncurrent`	$360.00K	USD	Point-in-time
Long-term lease payable	`FinanceLeaseLiabilityNoncurrent`	$325.00K	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$23.62M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$24.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$56.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$75.45M	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`	$72.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$74.72M	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`	$68.34M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$65.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$66.48M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$69.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$68.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$144.22M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$123.46M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$41.44M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$43.00M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$89.64M	USD	2 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$86.48M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$56.43M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsAndServicesSold`	$27.04M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$30.09M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$61.68M	USD	2 Qtrs
Gross margin	`GrossProfit`	$30.05M	USD	2 Qtrs
Gross margin	`GrossProfit`	$14.40M	USD	1 Quarter
Gross margin	`GrossProfit`	$27.96M	USD	2 Qtrs
Gross margin	`GrossProfit`	$12.91M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$26.20M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.58M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.61M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$24.70M	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-17.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
(Loss) Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.36M	USD	2 Qtrs
(Loss) Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.79M	USD	1 Quarter
(Loss) Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-666.00K	USD	1 Quarter
(Loss) Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.78M	USD	2 Qtrs
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-1.09M	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.26M	USD	2 Qtrs
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$573.00K	USD	1 Quarter
(Benefit from) provision for income taxes	`IncomeTaxExpenseBenefit`	$-503.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$427.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.29M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.22M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.25	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$0.45	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Shares used to compute basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	2 Qtrs
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
Shares used to compute basic earnings per share	`WeightedAverageNumberOfSharesOutstandingBasic`	9.08M	shares	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$427.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.29M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.22M	USD	1 Quarter
Depreciation	`Depreciation`	$1.95M	USD	2 Qtrs
Depreciation	`Depreciation`	$2.27M	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$49.00K	USD	2 Qtrs
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$121.00K	USD	2 Qtrs
Increase (reduction) in promotional allowances	`ReductionInPromotionalAllowances`	$171.00K	USD	2 Qtrs
Increase (reduction) in promotional allowances	`ReductionInPromotionalAllowances`	$-316.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-17.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.26M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$873.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-3.01M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.18M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.38M	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-2.52M	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$428.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.17M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.19M	USD	2 Qtrs
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-532.00K	USD	2 Qtrs
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.03M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$868.00K	USD	2 Qtrs
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.97M	USD	2 Qtrs
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.25M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-531.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-733.00K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$17.00K	USD	2 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.12M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.98M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.12M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.97M	USD	2 Qtrs
Payment of lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$26.00K	USD	2 Qtrs
Payment of lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	-	USD	2 Qtrs
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$9.50M	USD	2 Qtrs
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$22.95M	USD	2 Qtrs
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$998.00K	USD	2 Qtrs
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$232.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.27M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$21.93M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.38M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.22M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.70M	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`	$2.80M	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`	$13.70M	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`	$2.80M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$220.00K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$551.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$281.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$77.00K	USD	2 Qtrs

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$69.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.77M	USD	Point-in-time
Net income	`NetIncomeLoss`	$427.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.29M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.10M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.22M	USD	1 Quarter
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$65.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$69.78M	USD	Point-in-time
Balance	`StockholdersEquity`	$67.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.77M	USD	Point-in-time

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