10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001493152-22-006116`
Period End Date	20220131
Filing Date	20220304
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 10

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$46.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$127.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.87M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$3.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.83M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$64.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$66.04M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$150.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$375.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $46 and $127, respectively, and promotional allowances of $3,966 and $2,869, respectively	`AccountsReceivableNetCurrent`	$26.59M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $46 and $127, respectively, and promotional allowances of $3,966 and $2,869, respectively	`AccountsReceivableNetCurrent`	$24.38M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$36.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$39.23M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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
Refundable income taxes	`IncomeTaxesReceivable`	$6.09M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$6.16M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.14M	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
Total current assets	`AssetsCurrent`	$70.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$77.04M	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
Property, plant and equipment, net of accumulated depreciation and amortization of $66,043 and $64,527, respectively	`PropertyPlantAndEquipmentNet`	$72.89M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation and amortization of $66,043 and $64,527, respectively	`PropertyPlantAndEquipmentNet`	$71.72M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$13.65M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$12.64M	USD	Point-in-time
Total assets	`Assets`	$156.79M	USD	Point-in-time
Total assets	`Assets`	$156.61M	USD	Point-in-time
Total assets	`Assets`	$161.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.39M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$6.89M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$6.16M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$98.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$98.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$1.06M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$449.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.18M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$6.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.62M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$40.00M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$36.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$3.40M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$3.40M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$15.63M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$16.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$86.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$81.81M	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`	$74.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$74.56M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.71M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$72.71M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$74.98M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$75.28M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$71.25M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$156.79M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$161.40M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$54.69M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$64.09M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$47.69M	USD	1 Quarter
Cost of products sold	`CostOfGoodsAndServicesSold`	$40.14M	USD	1 Quarter
Gross margin	`GrossProfit`	$14.55M	USD	1 Quarter
Gross margin	`GrossProfit`	$16.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$14.73M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.98M	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$18.00K	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$74.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.68M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$649.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$297.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$317.00K	USD	1 Quarter
Cash surrender value (loss) gain	`GainOnCashSurrenderValue`	$-1.01M	USD	1 Quarter
Cash surrender value (loss) gain	`GainOnCashSurrenderValue`	$1.52M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.31M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.21M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$373.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.86M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$66.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$393.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$307.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.03	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 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.46M	USD	1 Quarter
Net income	`ProfitLoss`	$307.00K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$1.54M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$1.49M	USD	1 Quarter
(Recoveries on) provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$-81.00K	USD	1 Quarter
(Recoveries on) provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$20.00K	USD	1 Quarter
Increase in promotional allowances	`IncreaseInPromotionalAllowances`	$1.10M	USD	1 Quarter
Increase in promotional allowances	`IncreaseInPromotionalAllowances`	$1.16M	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$18.00K	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$74.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-3.87M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.23M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$2.46M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$510.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$572.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$408.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-65.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-252.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.01M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.53M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$201.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.72M	USD	1 Quarter
Accrued payroll, advertising, and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-593.00K	USD	1 Quarter
Accrued payroll, advertising, and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-731.00K	USD	1 Quarter
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.07M	USD	1 Quarter
Current portion of non-current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.17M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.06M	USD	1 Quarter
Non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.72M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.79M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	1 Quarter
Proceeds from sale of property, plant, and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Proceeds from sale of property, plant, and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$90.00K	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$381.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.06M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-363.00K	USD	1 Quarter
Payment of lease and right of use obligations	`PaymentOfLeaseAndRightOfUseObligations`	$77.00K	USD	1 Quarter
Payment of lease and right of use obligations	`PaymentOfLeaseAndRightOfUseObligations`	$103.00K	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$2.00M	USD	1 Quarter
Proceeds from bank borrowings	`ProceedsFromBankDebt`	$4.00M	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$1.09M	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$616.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$804.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.31M	USD	1 Quarter
Net increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.61M	USD	1 Quarter
Net increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.54M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$375.00K	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.98M	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`	$5.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$375.00K	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.98M	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`	$5.43M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$317.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$297.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$72.71M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$74.98M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$75.28M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$71.25M	USD	Point-in-time
Net income	`NetIncomeLoss`	$307.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.46M	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$72.71M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$74.98M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$75.28M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$71.25M	USD	Point-in-time

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