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Bridgford Foods Corporation Announces Improved 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 Corporation (Nasdaq:BRID n. 1. A bird. ) today reported sales for the second quarter (12 weeks) ended April 14, 2006 of $28,305,000, an increase of 2.1% compared to sales in the second twelve weeks of the prior fiscal year. The Company reported net income of $72,000 in the second quarter of 2006 compared to a net loss of $650,000 in the same quarter of 2005.

Sales for the first half (24 weeks) of the 2006 fiscal year were $62,880,000, a 2.6% increase compared to the same period in 2005. The Company incurred a net loss of $65,000 in the first half of 2006 compared to a net loss of $846,000 in the first half of last year. The gross margin increased slightly on a comparative basis due primarily to higher selling prices and lower meat commodity costs.

Bridgford Foods Corporation is a producer of frozen dough, microwaveable and shelf-stable sandwiches, dry sausages, processed meats and other convenience food products.
BRIDGFORD FOODS CORPORATION
                         FINANCIAL HIGHLIGHTS
                              (UNAUDITED)

                                         12 Weeks Ended 12 Weeks Ended
                                         -------------- --------------
                                          Apr 14, 2006   Apr 15, 2005

Sales                                      $28,305,000    $27,714,000
Cost of sales                              $17,510,000    $17,860,000
Selling, general & administrative
 expenses                                   $9,841,000     $9,874,000
Depreciation                                  $892,000     $1,029,000
Gain on sale of equity securities            $(106,000)            --
Income (loss) before taxes                    $168,000    $(1,049,000)
Income tax provision (benefit)                 $96,000      $(399,000)
Net income (loss)                              $72,000      $(650,000)
Basic income (loss) per share                    $0.01         $(0.07)
Average shares outstanding                   9,966,000      9,998,000


                                         24 Weeks Ended 24 Weeks Ended
                                         -------------- --------------
                                          Apr 14, 2006   Apr 15, 2005

Sales                                      $62,880,000    $61,305,000
Cost of sales                              $41,063,000    $40,431,000
Selling, general & administrative
 expenses                                  $20,211,000    $20,182,000
Depreciation                                $1,784,000     $2,057,000
Gain on sale of equity securities            $(106,000)            --
Loss before taxes                             $(72,000)   $(1,365,000)
Income tax benefit                             $(7,000)     $(519,000)
Net loss                                      $(65,000)     $(846,000)
Basic loss per share                             $0.00         $(0.08)
Average shares outstanding                   9,970,000      9,999,000
COPYRIGHT 2006 Business Wire
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Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Comment:Bridgford Foods Corporation Announces Improved Results for Second Quarter.
Publication:Business Wire
Geographic Code:1USA
Date:May 26, 2006
Words:360
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