Bridgford Foods has reported a decrease in sales and a net loss for its 2005 financial year ended on 28 October 2005.
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.
