EX-99.1 2 a07-15656_1ex99d1.htm EX-99.1

Exhibit 99.1

June 1, 2007

BRIDGFORD FOODS CORPORATION (NASDAQ BRID) ANNOUNCES EARNINGS FOR THE SECOND QUARTER OF FISCAL YEAR 2007

Anaheim, California - Bridgford Foods Corporation (Nasdaq: BRID) today reported sales for the second quarter (12 weeks) ended April 20, 2007 were $27,894,000, a decrease of 1.5% compared to sales in the second twelve weeks of the prior fiscal year.  The Company reported a net loss of $273,000 in the second quarter of fiscal year 2007 compared to net income of $72,000 in the same quarter of fiscal year 2006.

Sales for the first half (24 weeks) of the 2007 fiscal year were $60,207,000, a 4.3% decrease compared to the same period in 2006.  The Company incurred a net loss of $232,000 in the first half of 2007 compared to a net loss of $65,000 in the first half of last year.

Bridgford Foods Corporation, is a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products.

BRIDGFORD FOODS CORPORATION

FINANCIAL HIGHLIGHTS

(UNAUDITED)

 

12 Weeks Ended

 

12 Weeks Ended

 

 

 

Apr 20, 2007

 

Apr 14, 2006

 

 

 

 

 

 

 

Sales

 

$

27,894,000

 

$

28,305,000

 

Cost of products sold, excluding depreciation

 

$

17,944,000

 

$

17,510,000

 

Selling, general & administrative expenses

 

$

9,524,000

 

$

9,841,000

 

Depreciation

 

$

782,000

 

$

892,000

 

Gain on sale of equity securities

 

 

 

$

(106,000

)

Income (loss) before taxes

 

$

(356,000

)

$

168,000

 

Income tax provision (benefit)

 

$

(83,000

)

$

96,000

 

Net income (loss)

 

$

(273,000

)

$

72,000

 

Basic income (loss) per share

 

$

(0.03

)

$

0.01

 

Average shares outstanding

 

9,940,000

 

9,966,000

 

 

 

24 Weeks Ended

 

24 Weeks Ended

 

 

 

Apr 20, 2007

 

Apr 14, 2006

 

 

 

 

 

 

 

Sales

 

$

60,207,000

 

$

62,880,000

 

Cost of products sold, excluding depreciation

 

$

39,500,000

 

$

41,063,000

 

Selling, general & administrative expenses

 

$

19,444,000

 

$

20,211,000

 

Depreciation

 

$

1,563,000

 

$

1,784,000

 

Gain on sale of equity securities

 

 

 

$

(106,000

)

Income (loss) before taxes

 

$

(300,000

)

$

(72,000

)

Income tax provision (benefit)

 

$

(68,000

)

$

(7,000

)

Net income (loss)

 

$

(232,000

)

$

(65,000

)

Basic income (loss) per share

 

$

(0.02

)

$

(0.01

)

Average shares outstanding

 

9,948,000

 

9,970,000

 

 

CONTACT:  Bridgford Foods Corporation

R. Lancy, 714/526-5533