Bridgford Foods has reported a decrease in sales and a net loss for its 2005 financial year ended on 28 October 2005.
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The company, which produces frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products, recorded sales of US$130.8m, a decrease of 5% compared to the prior year, leading to a net loss of $943,000 for the year just ended.
Sales for the final sixteen weeks of the financial year decreased 1% from the prior year to stand at $41.9m – with a net loss of $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 favourable income tax reserve adjustment of $330,000. The prior year sixteen weeks included a pre-tax gain of $553,000 related to the sale of equity securities.
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