Bridgford's Investor
 

2010 Annual Report Page 39

NOTE 7- Segment Information:


We have two reportable operating segments, Frozen Food Products (the processing and distribution of frozen products), and Refrigerated and Snack Food Products (the processing and distribution of refrigerated meat and other convenience foods).

We evaluate each segment’s performance based on revenues and operating income. Selling and general administrative expenses include corporate accounting, information systems, human resource and marketing management at the corporate level. These activities are allocated to each operating segment based on revenues and/or actual usage.


The following segment information is for the years ended October 28, 2011 and October 29, 2010:
 
2011
  
Frozen Food
Products
    
Refrigerated
and Snack Food
Products
    
Other
    
Elimination
    
Totals
  
Sales
  
$
54,680
      
63,583
       -       -      
118,263
  
Intersegment sales
    
-
      
1,094
       -
      
(1,094
)
    
 
Net sales
    
54,680
      
64,677
       -      
(1,094
)
    
118,263
  
Cost of products sold
    
33,350
      
48,480
       -
      
(1,094
)
    
80,736
  
Gross margin
    
21,330
      
16,197
       -       -      
37,527
  
Selling, general and administrative expenses
    
17,074
      
21,441
      
124
       -
      
38,639
  
Income (loss) before taxes
    
4,256
      
(5,244
)
    
(124
)
     -
      
(1,112)
  
                                         
Total assets
  
$
11,887
      
23,124
      
21,955
       -
      
56,966
  
Additions to property, plant and equipment
  
$
659
      
980
      
213
       -
      
1,852
  
 
2010
  
Frozen Food
Products
    
Refrigerated
and Snack Food
Products
    
Other
    
Elimination
    
Totals
  
Sales
  
$
54,015
    
$
63,640
    
$
 -    
$
   -    
$
117,655
  
Intersegment sales
       -
      
1,228
       -
      
(1,228
)
    
 
Net sales
    
54,015
      
64,868
       -      
(1,228
)
    
117,655
  
Cost of products sold
    
31,682
      
40,109
       -
      
(1,228
)
    
70,563
  
Gross margin
    
22,333
      
24,759
       -       -      
47,092
  
Selling, general and administrative expenses
    
16,769
      
24,666
      
134
       -
      
41,569
  
Income (loss) before taxes
    
5,564
      
93
      
(134
)
       -
      
5,523
  
                                         
Total assets
  
$
11,668
    
$
20,937
    
$
27,918
    
$
   -
    
$
60,523
  
Additions to property, plant and equipment
  
$
805
    
$
954
    
$
10
    
$
   -    
$
1,769
  
 
 

NOTE 8- Unaudited Interim Financial Information:


Not applicable to smaller reporting company.
 
 
 
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