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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address. 
                         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