10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001493152-21-005500`
Period End Date	20210131
Filing Date	20210305
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	brid-20210122.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 28 Cash Flow Statement 60 Stockholders Equity 10

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$37.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.55M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$3.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$59.73M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$58.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.07M	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$900.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.12M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $37 and $16, respectively, and promotional allowances of $3,713 and $2,550, respectively	`AccountsReceivableNetCurrent`	$18.77M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $37 and $16, respectively, and promotional allowances of $3,713 and $2,550, respectively	`AccountsReceivableNetCurrent`	$23.82M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$29.81M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$29.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$9.52M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$9.27M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$692.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$68.75M	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
Total current assets	`AssetsCurrent`	$66.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $59,730 and $58,686, respectively	`PropertyPlantAndEquipmentNet`	$73.33M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $59,730 and $58,686, respectively	`PropertyPlantAndEquipmentNet`	$74.98M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.08M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.20M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$14.73M	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
Total assets	`Assets`	$156.61M	USD	Point-in-time
Total assets	`Assets`	$129.61M	USD	Point-in-time
Total assets	`Assets`	$155.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.50M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$5.39M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$5.98M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$94.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$94.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$4.43M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$4.47M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$8.38M	USD	Point-in-time
Current portion of non-current liabilities	`OtherLiabilitiesCurrent`	$5.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.04M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$23.56M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$24.69M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$31.30M	USD	Point-in-time
Non-current liabilities	`OtherLiabilitiesNoncurrent`	$33.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$84.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$83.90M	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`	$81.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.75M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.94M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.94M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$71.25M	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 shareholders' equity	`StockholdersEquity`	$72.71M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$155.28M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$156.61M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$46.64M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$54.69M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$40.14M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$31.59M	USD	1 Quarter
Gross margin	`GrossProfit`	$14.55M	USD	1 Quarter
Gross margin	`GrossProfit`	$15.05M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.98M	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`	$74.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$649.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$63.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$317.00K	USD	1 Quarter
Cash surrender value gain	`GainOnCashSurrenderValue`	$1.52M	USD	1 Quarter
Cash surrender value gain	`GainOnCashSurrenderValue`	$403.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.21M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$340.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.45M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.86M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$590.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$393.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.16	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 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Depreciation	`Depreciation`	$1.49M	USD	1 Quarter
Depreciation	`Depreciation`	$1.13M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$27.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$20.00K	USD	1 Quarter
Increase (reduction) in promotional allowances	`ReductionInPromotionalAllowances`	$-776.00K	USD	1 Quarter
Increase (reduction) in promotional allowances	`ReductionInPromotionalAllowances`	$1.16M	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`	$74.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.87M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$510.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-19.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$408.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$734.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-252.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.53M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$403.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-857.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$201.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-593.00K	USD	1 Quarter
Accrued payroll, advertising and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-266.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$590.00K	USD	1 Quarter
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.61M	USD	1 Quarter
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.17M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.48M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.72M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.99M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.79M	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`	$90.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.17M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.06M	USD	1 Quarter
Payment of lease and right of use obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$13.00K	USD	1 Quarter
Payment of lease and right of use obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$103.00K	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$8.25M	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$2.00M	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$1.09M	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$319.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$804.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.92M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.54M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.23M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.48M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.97M	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$5.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.48M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.97M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.25M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$141.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$317.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$183.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$71.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$72.71M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Balance	`StockholdersEquity`	$71.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$68.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$66.48M	USD	Point-in-time
Balance	`StockholdersEquity`	$72.71M	USD	Point-in-time

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