BRIDGFORD FOODS CORPORATION
CONSOLIDATED BALANCE SHEETS
November 03, 2006 and October 28, 2005
(in thousands, except per share amounts)
| |
|
2006 |
2005 |
|
|
|
|
| ASSETS |
|
|
Current assets: |
|
|
| |
Cash and cash equivalents |
$1,180 |
$5,855 |
| |
Trading securities |
12,200 |
4,500 |
| |
Accounts receivable, less allowance for doubtful accounts of $524 and $468, respectively
and promotional allowances of $2,170 and $2,092, respectively |
10,222 |
9,508 |
| |
Inventories |
19,544 |
21,324 |
| |
Prepaid expenses |
291 |
401 |
| |
Refundable income taxes |
655 |
552 |
| |
Deferred income taxes |
1,821 |
1,598 |
|
|
|
|
| Total current assets |
45,913 |
43,738 |
| |
|
|
| Property, plant and equipment, net of accumulated depreciation of $53,941 and $50,731,
respectively |
13,041 |
14,519 |
| Other non-current assets |
10,620 |
10,239 |
| Deferred income taxes |
3,357 |
4,467 |
|
|
|
|
| Total assets |
$72,931 |
$72,963 |
|
|
|
|
| |
|
|
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
| Current liabilities: |
|
|
| |
Accounts payable |
$3,923 |
$3,806 |
| |
Accrued payroll, advertising and other expenses |
6,029 |
5,314 |
| |
Current portion of non-current liabilities |
4,279 |
2,721 |
|
|
|
|
| |
|
Total current liabilities |
14,231 |
11,841 |
|
|
|
|
| Non-current liabilities |
8,514 |
12,860 |
|
|
|
|
| Contingencies and commitments (Notes 3, 5 and 6) |
|
|
| Shareholders’ equity: |
|
|
| Preferred stock, without par value |
|
|
| |
Authorized - 1,000 shares |
|
|
| |
|
Issued and outstanding – none |
— |
— |
| Common stock, $1.00 par value |
|
|
| |
Authorized - 20,000 shares |
|
|
| |
|
Issued and outstanding – 9,958 in 2006 and 9,986 in 2005 |
10,015 |
10,043 |
| Capital in excess of par value |
14,235 |
14,394 |
| Retained earnings |
27,129 |
25,889 |
| Accumulated other comprehensive loss |
(1,193) |
(2,064) |
|
|
|
|
| |
|
Total shareholders’ equity |
50,186 |
48,262 |
|
|
|
|
| |
|
|
$72,931 |
$72,963 |
|
|
|
|
| |
|
|
|
|
| See accompanying notes to consolidated financial statements. |
|
