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.

                         BRIDGFORD FOODS CORP.
FINANCIAL HIGHLIGHTS

13 Weeks Ended

July 28, 2000 July 30, 1999

Sales $ 36,276,606 $ 32,356,312
Cost of sales $ 22,025,980 $ 18,911,321
Selling, general & admin expenses $ 10,503,261 $ 9,261,316
Depreciation $ 888,643 $ 809,250
Income before taxes $ 2,858,722 $ 3,374,425
Income tax provision $ 1,086,000 $ 1,282,000
Net income $ 1,772,722 $ 2,092,425
Basic earnings per share 16 cents 18 cents
Average shares outstanding 10,809,098 11,369,812
Diluted earnings per share 16 cents 18 cents
Diluted shares computed 10,985,480 11,369,812


39 Weeks Ended

July 28, 2000 July 30, 1999

Sales $ 113,436,187 $ 102,054,843
Cost of sales $ 68,316,206 $ 58,851,023
Selling, general & admin expenses $ 31,824,951 $ 28,952,940
Depreciation $ 2,749,500 $ 2,427,750
Income before taxes $ 10,545,530 $ 11,823,130
Income tax provision $ 4,007,000 $ 4,493,000
Net income $ 6,538,530 $ 7,330,130
Basic earnings per share 59 cents 64 cents
Average shares outstanding 11,004,757 11,369,812
Diluted earnings per share 58 cents 64 cents
Diluted shares computed 11,181,139 11,369,812