10-Q Filing

BRIDGFORD FOODS CORP CIK: 14177 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001493152-23-006798`
Period End Date	20230131
Filing Date	20230306
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	form10-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 28 Cash Flow Statement 58 Stockholders Equity 10

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$177.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$359.00K	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$2.77M	USD	Point-in-time
Accounts receivable, allowance for promotional allowances	`AllowanceForPromotions`	$3.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$72.30M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$70.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.99M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $359 and $177, respectively, and promotional allowances of $3,522 and $2,771, respectively	`AccountsReceivableNetCurrent`	$32.68M	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
Accounts receivable, less allowance for doubtful accounts of $359 and $177, respectively, and promotional allowances of $3,522 and $2,771, respectively	`AccountsReceivableNetCurrent`	$34.54M	USD	Point-in-time
Inventories, net	`InventoryNet`	$40.53M	USD	Point-in-time
Inventories, net	`InventoryNet`	$38.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$1.37M	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
Refundable income taxes	`IncomeTaxesReceivable`	$1.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.41M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$321.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$87.27M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$92.93M	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
Property, plant and equipment, net of accumulated depreciation and amortization of $72,300 and $70,968, respectively	`PropertyPlantAndEquipmentNet`	$71.83M	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 $72,300 and $70,968, respectively	`PropertyPlantAndEquipmentNet`	$70.64M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$11.59M	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
Other non-current assets	`OtherAssetsNoncurrent`	$11.70M	USD	Point-in-time
Total assets	`Assets`	$176.35M	USD	Point-in-time
Total assets	`Assets`	$169.61M	USD	Point-in-time
Total assets	`Assets`	$161.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.10M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$6.80M	USD	Point-in-time
Accrued payroll, advertising, and other expenses	`AccruedLiabilitiesCurrent`	$7.24M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$224.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$224.00K	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$1.09M	USD	Point-in-time
Current notes payable - equipment	`NotesPayableCurrent`	$1.10M	USD	Point-in-time
Current right-of-use leases payable	`FinanceLeaseRightOfUseLeasesPayableCurrent`	$1.00M	USD	Point-in-time
Current right-of-use leases payable	`FinanceLeaseRightOfUseLeasesPayableCurrent`	$1.05M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.60M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.27M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$3.57M	USD	Point-in-time
Long-term notes payable - equipment	`LongTermNotesPayable`	$3.82M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$8.97M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$8.97M	USD	Point-in-time
Long-term right-of-use leases payable	`FinanceLeaseRightOfUseLeasesPayableNonCurrent`	$3.21M	USD	Point-in-time
Long-term right-of-use leases payable	`FinanceLeaseRightOfUseLeasesPayableNonCurrent`	$3.42M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$6.95M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$6.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$42.35M	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`	$119.32M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$120.25M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.43M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.43M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$127.26M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$126.33M	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 liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$169.61M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$176.35M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$61.62M	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`	$44.56M	USD	1 Quarter
Gross margin	`GrossProfit`	$17.07M	USD	1 Quarter
Gross margin	`GrossProfit`	$16.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.79M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$14.73M	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$72.00K	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$18.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.34M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.68M	USD	1 Quarter
Interest expense	`InterestExpense`	$125.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$297.00K	USD	1 Quarter
Cash surrender value (loss) gain	`GainOnCashSurrenderValue`	$-1.01M	USD	1 Quarter
Cash surrender value (loss) gain	`GainOnCashSurrenderValue`	$111.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.31M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-14.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.33M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$373.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$66.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$398.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$932.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$307.00K	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.10	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`	$932.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$307.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.45M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.54M	USD	1 Quarter
Provision for losses (recovery on) accounts receivable	`ProvisionForDoubtfulAccounts`	$187.00K	USD	1 Quarter
Provision for losses (recovery on) accounts receivable	`ProvisionForDoubtfulAccounts`	$-81.00K	USD	1 Quarter
Increase in promotional allowances	`IncreaseInPromotionalAllowances`	$1.10M	USD	1 Quarter
Increase in promotional allowances	`IncreaseInPromotionalAllowances`	$751.00K	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$72.00K	USD	1 Quarter
Gain on sale of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$18.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.23M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-923.00K	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$2.46M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-1.71M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$572.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.09M	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-65.00K	USD	1 Quarter
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$166.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$111.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.01M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.72M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.56M	USD	1 Quarter
Accrued payroll, advertising, and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-731.00K	USD	1 Quarter
Accrued payroll, advertising, and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-610.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$1.07M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.38M	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.06M	USD	1 Quarter
Other non-current liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-592.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.63M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.34M	USD	1 Quarter
Proceeds from sale of property, plant, and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$72.00K	USD	1 Quarter
Proceeds from sale of property, plant, and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$18.00K	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$381.00K	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$259.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-363.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-187.00K	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`	$279.00K	USD	1 Quarter
Proceeds from borrowings under revolving credit facilities	`ProceedsFromLongTermLinesOfCredit`	$4.00M	USD	1 Quarter
Proceeds from borrowings under revolving credit facilities	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$616.00K	USD	1 Quarter
Repayments of bank borrowings	`RepaymentsOfBankDebt`	$248.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.31M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-527.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.61M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.34M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.33M	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`	$12.99M	USD	Point-in-time
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 end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$16.33M	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`	$12.99M	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$375.00K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$567.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$297.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$125.00K	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$127.26M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$126.33M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$74.98M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$75.28M	USD	Point-in-time
Net income	`NetIncomeLoss`	$932.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$307.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$127.26M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$126.33M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$74.98M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$75.28M	USD	Point-in-time

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