Bridgford Foods posts second quarter losses

Source: Food and Drink Digital

Date :6/3/2008 4:11:36 AM

Bridgford Foods Corp., the US convenience food firm, reported a second quarter net loss of US$784,000, compared to US$273,000 in the same period the previous year.

Sales in the second quarter were down 10.7 percent to US$24.9 million at April 18, 2008. The company blamed high fuel and commodity costs for its losses and reduced operating margins.

Products

The business has had to increase its prices in order to offset these expenses and is pursuing additional distribution channels for its products.

Bridgford Foods also reported a decrease in revenue to US$56.2 million, down 6.6 percent on last year.

The company currently employs 675 people, and sells its products in all 50 states of the US, as well as Canada and several overseas markets. It pioneered the manufacture and sale of frozen bread dough to supermarkets in 1962.

Bridgford Foods now sells sliced lunch meats and sandwiches, dry and semi-dry sausage products for retail and food service establishments.

The company incurred a net loss this year of US$1.4 million in the first half of 2008, compared to US$232,000 in the same period in 2007.

June 3, 2008