USA: Bridgford Foods Corp. announces results for third quarter of 2000 fiscal year
Bridgford Foods Corp. (Nasdaq:BRID) Thursday announced a 12.1% increase in sales for the third quarter of its 2000 fiscal year. Sales increased by $3.9 million to $36.3 million in the quarter ended July 28, 2000 compared with the same period last year. Net income in the third quarter decreased 15.3% to $1.8 million when compared with the second quarter of the 1999 fiscal year. Diluted earnings per share decreased 10.9% in the third quarter compared with the same quarter last year. The trend of higher costs for pork supplies, combined with increased costs for transportation, health care and petroleum-based packaging had an adverse influence on profit margins. Sales for the first 39 weeks of the 2000 fiscal year increased by 11.2% to $113.4 million compared with the same period in 1999 while net income decreased 10.8% to $6.5 million. Diluted earnings per share decreased 9.3% in the first 39 weeks compared with the same period last year. On Dec. 15, 1999 the company announced the adoption of a stock repurchase plan. The plan authorizes the company to purchase up to 1 million shares (9%) of its outstanding common stock. To date, the company has purchased approximately 707,000 shares on the open market at an average cost of $9.97 per share. Bridgford Foods Corp., a producer of frozen bread dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products currently has 10,663,000 shares outstanding.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- Comment: Meal kits in US - don't believe the hype
- US food next wave on display at Winter Fancy Food
- Column: Kraft Heinz, Unilever and sustainability
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Fonterra cuts earnings forecast