Bridgford Foods Corporation Announces Results for 2005 Fiscal Year.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 announced a decrease in sales and a net loss for the 2005 fiscal year. Sales for the fiscal year ended October October: see month. 28, 2005 decreased 5% to $130,845,000 when compared to the prior fiscal year. The net loss was $943,000 for the fiscal year just ended. Sales for the sixteen weeks ended October 28, 2005 decreased 1% to $41,884,000 when compared to the same period in the prior year. The net loss for the sixteen weeks ended October 28, 2005 was $340,000, compared to net income of $994,000 in the same period last year. The net loss for the sixteen weeks just ended included a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. income tax reserve adjustment of $330,000. The prior year sixteen weeks included a pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta gain of $553,000 related to the sale of equity securities. Bridgford Foods Corporation, a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products, currently has 9,967,000 shares of common stock outstanding.
BRIDGFORD FOODS CORPORATION
FINANCIAL HIGHLIGHTS
(UNAUDITED)
52 Weeks Ended
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Oct. 28, 2005 Oct. 29, 2004
Sales $130,845,000 $137,865,000
Cost of sales $85,455,000 $90,306,000
Selling, general & administrative expenses $43,393,000 $43,728,000
Depreciation $4,251,000 $4,345,000
Gain on sale of equity securities $- $553,000
(Loss) income before taxes $(2,254,000) $39,000
Income tax (benefit) provision $(1,311,000) $15,000
Net (loss) income $(943,000) $24,000
Basic (loss) earnings per share $(0.09) $-
Average shares outstanding 9,995,000 10,132,000
16 Weeks Ended
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Oct. 28, 2005 Oct. 29, 2004
Sales $41,884,000 $42,246,000
Cost of sales $27,783,000 $27,426,000
Selling, general & administrative expenses $13,890,000 $12,456,000
Depreciation $1,166,000 $1,315,000
Gain on sale of equity securities $- $553,000
(Loss) income before taxes $(955,000) $1,602,000
Income tax (benefit) provision $(615,000) $608,000
Net (loss) income $(340,000) $994,000
Basic (loss) earnings per share $(0.03) $0.10
Average shares outstanding 9,988,000 10,005,000
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