Bridgford Foods Corp. Announces Results for Second Quarter.ANAHEIM Anaheim (ăn`əhīm), city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. , Calif. -- Bridgford Foods Corp. (Nasdaq:BRID n. 1. A bird. ) today reported sales for the second quarter (12 weeks) ended April 15, 2005, of $27,714,000, a decrease of 9.3 percent compared to sales in the second 12 weeks of the prior fiscal year. The company incurred a net loss of $650,000 in the second quarter of 2005 versus a loss of $209,000 in the same quarter of 2004. Sales for the first half (24 weeks) of the 2005 fiscal year were $61,305,000, a 6.9 percent decrease compared to the same period in 2004. The company incurred a net loss of $846,000 in the first half of 2005 compared to a net loss of $346,000 in the first half of last year. The gross margin decreased slightly on a comparative basis due primarily to higher commodity costs and lower facility utilization utilization, n 1. the extent to which a given group uses a particular service in a specified period. Although usually expressed as the number of services used per year per 100 or per 1000 persons eligible for the service, utilization rates may be . Bridgford Foods Corp., a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products, currently has 9,998,000 shares of common stock outstanding.
BRIDGFORD FOODS CORP.
FINANCIAL HIGHLIGHTS
(UNAUDITED)
12 Weeks Ended 12 Weeks Ended
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Apr. 15, 2005 Apr. 16, 2004
Sales $27,714,000 $30,541,000
Cost of sales $17,860,000 $19,359,000
Selling, general & administrative
expenses $9,874,000 $10,512,000
Depreciation $1,029,000 $1,006,000
Loss before taxes $(1,049,000) $(336,000)
Income tax benefit $(399,000) $(127,000)
Net loss $(650,000) $(209,000)
Basic loss per share $(0.07) $(0.02)
Average shares outstanding 9,998,000 10,247,000
24 Weeks Ended 24 Weeks Ended
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Apr. 15, 2005 Apr. 16, 2004
Sales $61,305,000 $65,863,000
Cost of sales $40,431,000 $43,225,000
Selling, general & administrative
expenses $20,182,000 $21,176,000
Depreciation $2,057,000 $2,020,000
Loss before taxes $(1,365,000) $(558,000)
Income tax benefit $(519,000) $(212,000)
Net loss $(846,000) $(346,000)
Basic loss per share $(0.08) $(0.03)
Average shares outstanding 9,999,000 10,256,000
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