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Bridgford Foods fiscal Q1 profit falls YOY

Bridgford Foods Corp. said its normalized net income for the fiscal first quarter ended Jan. 23 came to 3 cents per share, a decline of 67.9% from 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $291,880, a decrease of 67.9% from $910,000 in the year-earlier period.

The normalized profit margin declined to 0.7% from 2.8% in the year-earlier period.

Total revenue climbed 6.9% year over year to $34.7 million from $32.5 million, and total operating expenses climbed 10.4% year over year to $34.2 million from $31.0 million.

Reported net income decreased 67.6% on an annual basis to $467,000, or 5 cents per share, from $1.4 million, or 16 cents per share.