Bridgford's Investor
 

Form 10-Q for the 1st Quarter Ended 01/20/12

Page 14

Selling, General and Administrative Expenses-Consolidated


Selling, general and administrative (“SG&A”) expenses decreased by $199 (2.2%) to $8,841in the first twelve weeks of fiscal year 2012 compared to the same twelve-week period in the prior fiscal year.  The table below summarizes the significant expense increases and decreases included in this category:

   
12 Weeks Ended
   
Expense/Loss
 
   
January 20, 2012
   
January 21, 2011
   
Increase (Decrease)
 
Wages and bonus
 
$
3,273
   
$
3,623
   
$
(350
)
Cash surrender value (gain) loss
   
(56
)
   
(396
)
   
340
 
Losses (recoveries) on accounts receivable
   
(89
)
   
129
     
(218
)
Other SG&A
   
5,713
     
5,684
     
29
 
Total
 
$
8,841
   
$
9,040
   
$
(199
)
 
Lower profits and profit sharing accruals resulted in decreased wages and bonus in first twelve weeks of the 2012 fiscal year compared to the same period in the prior year.  The cash surrender value gain on life insurance policies decreased due to the change in the underlying equities that support them as compared to the same twelve week period in fiscal 2011.  During the twelve week period ended January 20, 2012, a reduction in the allowance for doubtful accounts was recorded.

Selling, General and Administrative Expenses-Frozen Food Products Segment


SG&A expenses in the Frozen Food Products Segment decreased by $26 (0.7%) to $3,859 in the first twelve weeks of fiscal year 2012 compared to the same twelve week period in the prior fiscal year.   The decrease in this category partially relates to the overall decrease in unit sales volume. Lower wages and bonus lowered SG&A costs as a percentage of sales in the first twelve weeks of fiscal year 2012.

Selling, General and Administrative Expenses-Refrigerated and Snack Food Products Segment


SG&A in the Refrigerated and Snack Food Products Segment decreased by $177 (3.4%) to $5,002 in the first twelve weeks of fiscal year 2012 compared to the same twelve-week period in the prior fiscal year.  The decrease in SG&A costs primarily relates to a reduction in the allowance for doubtful accounts. No penalties associated with OSHA were recorded during the first quarter of fiscal 2012 as was recorded during the first quarter of fiscal 2011.
 
 
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Exhibit: 31.1 | 31.2 | 32.1 | 32.2

 
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