BRIDGFORD FOODS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
For the years ended November 3, 2006, October 28, 2005, and October 29, 2004
(in thousands, except share and per share amounts)
| |
2006 |
2005 |
2004 |
|
|
|
|
| Net sales |
$134,264 |
$130,845 |
$137,865 |
|
|
|
|
| Cost of products sold, excluding depreciation |
85,133 |
85,455 |
90,306 |
| Selling, general and administrative expenses |
43,963 |
43,393 |
43,728 |
| Depreciation |
3,777 |
4,251 |
4,345 |
| Gain on sale of equity securities |
(106) |
— |
(553) |
|
|
|
|
| |
132,767 |
133,099 |
137,826 |
|
|
|
|
| Income (loss) before taxes |
1,497 |
(2,254) |
39 |
| Provision (benefit) for taxes on income |
257 |
(1,311) |
15 |
|
|
|
|
| Net income (loss) |
$1,240 |
$ (943) |
$24 |
|
|
|
|
| Basic earnings (loss) per share |
$0.13 |
$(0.09) |
$ — |
|
|
|
|
| Shares used to compute basic earnings (loss) per share |
9,966,483 |
9,994,816 |
10,131,570 |
|
|
|
|
| Diluted earnings (loss) per share |
$0.13 |
$(0.09) |
$ — |
|
|
|
|
| Shares used to compute diluted earnings (loss) per share |
9,966,483 |
9,994,816 |
10,131,570 |
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY
AND COMPREHENSIVE INCOME
For the years ended November 3, 2006, October 28, 2005, and October 29, 2004
(in thousands, except per share amounts)
| |
|
Shares |
Amount |
Capital in excess of par value |
Retained earnings |
Accumulated other comprehensive income (loss) |
Total shareholders' equity |
|
|
|
|
|
|
|
|
| Balance, October 31, 2003 |
10,276 |
$10,333 |
$16,340 |
$27,321 |
$(1,661) |
$52,333 |
| |
Share repurchased and retired |
(274) |
(274) |
(1,834) |
|
|
(2,108) |
| |
Cash dividends paid ($.05 per share) |
|
|
|
(513) |
|
(513) |
| |
Net Income |
|
|
|
24 |
|
24 |
| Other comprehensive net income (loss): |
|
|
|
|
|
|
| |
Unrealized gain on investment |
|
|
|
|
25 |
25 |
| |
Minimum pension liability |
|
|
|
|
(1,097) |
(1,097) |
|
|
|
|
|
|
|
|
| Comprehensive income |
|
|
|
|
|
(1,048) |
|
|
|
|
|
|
|
|
| Balance, October 29, 2004 |
10,002 |
10,059 |
14,506 |
26,832 |
(2,733) |
48,664 |
| |
Shares repurchased and retired |
(16) |
(16) |
(112) |
|
|
(128) |
| |
Net loss |
|
|
|
(943) |
|
(943) |
| Other comprehensive net income (loss): |
|
|
|
|
|
|
| |
Unrealized gain on investment |
|
|
|
|
30 |
30 |
| |
Minimum pension liability |
|
|
|
|
639 |
639 |
|
|
|
|
|
|
|
|
| Comprehensive loss |
|
|
|
|
|
(274) |
|
|
|
|
|
|
|
|
| Balance, October 28, 2005 |
9,986 |
10,043 |
14,394 |
25,889 |
(2,064) |
48,262 |
| |
Shares repurchased and retired |
(28) |
(28) |
(159) |
|
|
(187) |
| |
Net income |
|
|
|
1,240 |
|
1,240 |
| Other comprehensive net income (loss): |
|
|
|
|
|
|
| |
Unrealized loss on investment |
|
|
|
|
(55) |
(55) |
| |
Minimum pension liability |
|
|
|
|
926 |
926 |
|
|
|
|
|
|
|
|
| Comprehensive loss |
|
|
|
|
|
2,111 |
|
|
|
|
|
|
|
|
| Balance, November 3, 2006 |
9,958 |
$10,015 |
$14,235 |
$27,129 |
$(1,193) |
$50,186 |
|
|
|
|
|
|
|
|
| See accompanying notes to consolidated financial statements. |
|
