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Bridgford Foods swings to profit in fiscal Q2

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Bridgford Foods swings to profit in fiscal Q2

Bridgford Foods Corp. said its normalized net income for the fiscal second quarter ended April 17 was 13 cents per share, compared with a loss of 9 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 $1.2 million, compared with a loss of $800,000 in the prior-year period.

The normalized profit margin increased to 5.0% from negative 2.6% in the year-earlier period.

Total revenue declined 14.6% year over year to $26.7 million from $31.2 million, and total operating expenses decreased 23.6% from the prior-year period to $24.8 million from $32.5 million.

Reported net income came to $2.2 million, or 24 cents per share, compared to a loss of $1.3 million, or a loss of 14 cents per share, in the year-earlier period.