Bridgford Foods Corporation Releases Earnings For The 2nd Quarter Of 2010

May 28, 2010

Bridgford Foods Corporation (NasdaqGM: BRID) saw earnings per share soar nearly 82% to $.20 per share thanks to higher revenues while keeping expenses in check for the quarter ended April 16, 2010. The primary driver was a 14.8% increase in unit sales volume in the frozen food products segment. The refrigerated and snack food segment saw a 4.6% increase in pounds sold, but suffered from a 10% drop in the selling price per pound. Revenues for the quarter were $26,831,000 compared to $25,631,000 in for the same quarter in 2009. Net income came in at $1,905,000 compared to $1,090,000 for the same quarter in 2009

The Company continues to maintain a very conservative balance sheet and increased its cash position to $16,955,000 from 15,065,000 at the end of the previous quarter. The Company continued to maintain a balance sheet that is free of interest bearing debt and has done so for 23 consecutive years.

Bridgford and its subsidiaries engage in the manufacture, marketing and distribution of frozen, refrigerated, and snack food products in both the United States and Canada.

Disclosure: The author does not hold a position in BRID at the time of this article.

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