Bridgford Foods Corp | Investor Service

2003 Annual Report

(page 1)


DESCRIPTION OF BUSINESS

Bridgford Foods Corporation and its subsidiaries manufacture and/or distribute refrigerated, frozen and snack food products. The Company markets its products throughout the United States and Canada. The Company sells its products through wholesale outlets, restaurants and institutions. The products are sold by the Company’s own sales force, brokers, cooperatives, wholesalers and independent distributors. Products are currently sold through approximately 38,000 retail food stores in forty-eight states within the continental United States, Hawaii and Canada that are serviced by Company-owned service routes. Company products are also sold throughout the country to approximately another 21,000 retail outlets and 22,000 restaurants and institutions.
The following summary represents the approximate percentage of net sales by class of product for each of the last five fiscal years:
    2003   2002   2001   2000   1999
 
Products manufactured or processed by the Company 70 69 69 68 69
Products manufactured or processed by others 30 31 31 32 31
 
Total 100 100 100 100 100
 




 
COMMON STOCK AND DIVIDEND DATA

The common stock of the Company is traded in the national over-the-counter market and is authorized for quotation on The Nasdaq National Market under the symbol “BRID”. The following table reflects the high and low closing prices and cash dividends paid as quoted by Nasdaq for each of the last eight fiscal quarters.

Fiscal Quarter Ended Prices

Cash
  Dividends
Paid
  $High   $Low
February 1, 2002 13.88 10.72 $.07
May 3, 2002 13.00 10.45 $.07
August 2, 2002 15.25 10.40 $.07
November 1, 2002 12.35 8.58 $.05
January 24, 2003 12.30 7.5 $.05
April 18, 2003 11.37 6.80 $.05
July 11, 2003 8.50 6.45 $.03
October 31, 2003 8.34 6.85 $.03



 
 

ANNUAL SHAREHOLDERS MEETING

The 2004 annual meeting of shareholders will be held at the Four Points Sheraton, 1500 South Raymond Avenue , Fullerton , CA at 10:00 a.m. on Wednesday, March 17, 2004.

 

RECENT HISTORICAL TRENDS

   
SALES
(In Millions)		   NET INCOME
(In Millions)		   CASH DIVIDENDS
(In Thousands)
         
     
WORKING CAPITAL
(In Millions)		   EQUITY
(In Millions)		    
         
         

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