Bridgford Foods Corp. Announces Results for Third 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 third quarter (12 weeks) ended July July: see month. 8, 2005, of $27,656,000, a decrease of 7.1% compared to sales in the third 12 weeks of the prior fiscal year. Sales for the first three quarters (36 weeks) of the 2005 fiscal year were $88,961,000, a 7.0% decrease compared to the same period in 2004. The company incurred an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $1,824,000 in the first three quarters of 2005 compared to an operating loss of $1,634,000 in the first three quarters of last year. The gross margin increased slightly on a comparative basis due primarily to higher 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 , lower overhead spending, lower product returns from customers and the outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. of unprofitable processed items. The company's net income was $243,000 in the third quarter (12 weeks) of 2005 versus a net loss of $623,000 in the same quarter of 2004. Net income increased primarily as a result of a significant non-taxable non-taxable adj → nicht steuerpflichtig non-taxable adj non-taxable income → reddito non imponibile gain from life insurance policies in the quarter. Bridgford Foods Corp., a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products, currently has 9,990,000 shares of common stock outstanding.
BRIDGFORD FOODS CORP.
FINANCIAL HIGHLIGHTS
(UNAUDITED)
12 Weeks Ended 12 Weeks Ended
July 8, 2005 July 9, 2004
Sales $27,656,000 $29,756,000
Cost of sales $17,241,000 $19,655,000
Selling, general & administrative
expenses $9,321,000 $10,096,000
Depreciation $1,028,000 $1,010,000
Loss from operations $(251,000) $(1,029,000)
Life insurance gain and investment
income $317,000 $24,000
Income (loss) before taxes $66,000 $(1,005,000)
Income tax provision (benefit) $(177,000) $(382,000)
Net income (loss) $243,000 $(623,000)
Basic income (loss) per share $0.03 $(0.06)
Average shares outstanding 9,994,000 10,054,000
36 Weeks Ended 36 Weeks Ended
July 8, 2005 July 9, 2004
Sales $88,961,000 $95,619,000
Cost of sales $57,672,000 $62,880,000
Selling, general & administrative
expenses $29,503,000 $31,272,000
Depreciation $3,085,000 $3,030,000
Loss from operations $(1,824,000) $(1,634,000)
Life insurance gain and investment
income $525,000 $71,000
Loss before taxes $(1,299,000) $(1,563,000)
Income tax benefit $(696,000) $(594,000)
Net loss $(603,000) $(969,000)
Basic loss per share $(0.06) $(0.10)
Average shares outstanding 9,998,000 10,179,000
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