Bridgford Foods Reports Profits of $4.5 Million

Spurred by a juicy line of food products and a nationwide expansion of its distribution system, Bridgford Foods Corp., a maker of frozen foods and snacks, reported increased profits and sales for the fiscal year ended Nov. 1.

Bridgford said its net income for the year was $4.5 million, equal to 48 cents a share, which was up 15% from profit of $3.9 million, or 42 cents a share, a year earlier. Sales grew 10%, to $92.9 million from $84.3 million a year earlier.

Robert E. Schulze, secretary and treasurer, said the company’s growth was driven by the popularity of its key products: microwave sandwiches, frozen bread dough and dry sausages.

Sales also got a boost from expanded distribution, he said. The company itself supplied 15,500 retailers in 44 states with its food products, compared to 13,000 in 32 states a year earlier.

Products sold through distributors reached an additional 21,500 retailers, up from 21,000 a year earlier, and the company supplied 13,000 restaurants and food service outlets, up from 12,500 a year earlier, according to Schulze.

“It’s been our good fortune to have a number of good things going in spite of the economy,” Schulze said. “With the expansion, we have higher volume and lower average costs.”

Bridgford reported for its fourth quarter ended Nov. 1 that it had net income of $1.3 million, or 14 cents a share, up 18% from $1.1 million, or 12 cents a share, a year earlier. Sales were up 5.3% to $23.9 million from $22.7 million a year earlier.