Bridgford Foods, ANAHEIM
Nature of Business: Manufacturer and distributor of refrigerated, frozen and snack food products. Employees Total: 560
In Orange County: 160 Stock Listed in the Times: on NASDAQ as “BrdgFs”
Ticker Symbol: “BRID” Friday’s Close: $21.00 One-week Change: None Analyst Review: “This is a well-managed, family-run company. There are three generations of Bridgfords involved in the corporation, and they all have a terrific work ethic. Five years ago, sales were $54 million, this year it will be close to $100 million; net income was $628,000 five years ago, and if my projection is correct, they will earn about $4.5 million for fiscal 1991. As a consequence, the stock has been a rocket. It has had four three-for-two splits for each of the past four years. They have grown rapidly, and have done so with no balance sheet leverage, while still earning a very attractive return. If they earn that $4.5 million, they will earn something like 25% return on shareholder’s equity, which is well-above the average.” --Ron Strauss, analyst William Blair & Co., Chicago Sales and Profits Dollar amounts in millions.
3 Qtrs. Fiscal year ending ’87 ’88 ’89 ’90 FY ’91 Sales $56.5 $60.2 $72.6 $84.3 $69.0 Profits $1.6 $2.7 $3.5 $3.9 $3.2
Corporate Outlook: “Bridgford Foods Corp. continues to grow through development and sale of high-quality and unique convenience food products such as microwave sandwiches, frozen dough for freshly-baked goods and Old World dry sausage items. We expect our growth to continue through sales to thousands of restaurants, supermarkets and convenience stores.” Allan L. Bridgford, president RETURN ON INVESTMENT: 4-YEAR SUMMARY AND YEAR-TO-DATE
Fiscal year ending Oct. 30 Oct. 28 Nov. 3 Nov. 2 3 Qtrs. 1987 1988 1989 1990 1991 52-Week High $4.14 $5.86 $9.22 $16.00 $20.75 52-Week Low $0.98 $2.91 $4.89 $7.78 $10.33 Book Value Per Share* $6.83 $3.59 $3.19 $2.60 $1.98 Net Earnings (Loss) Per Share* $0.26 $0.42 $0.56 $0.63 $0.50 Price-to-Earnings Ratio 10:1 13:1 15:1 16:1 36:1 Avg. Return on on Investor Equity 20% 26% 26% 18% 19%
* Adjusted for four three-for-two stock splits distributed in January 1988, 1989, 1990 and December, 1990. For more information call or write, Bridgford Foods Corp.: 1308 N. Platt Street, Anaheim, Calif., 92803. (714) 526-5533 Source: Bridgford Foods Corp.
