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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