020344 Bridgford Foods Announces First-Quarter ResultsMarch 18, 2002Anaheim, CA - Bridgford Foods Corp. announced that sales for the first quarter of its 2002 fiscal year totaled $39,231,000, a 7.2% decrease compared with the first quarter last year. The decrease in sales relates primarily to the sluggish economy. Net income for the first quarter totaled $1,553,000, a decrease of 37.4% compared with the first quarter of 2001. Reduced earnings in the first quarter were due, in part, to the lower level of sales volume and the credit loss provision for the bankruptcy filing of a significant customer in January 2002. Bridgford Foods, a producer of frozen dough, microwaveable sandwiches, dry sausages, processed meats and other convenience food products, currently has 10,448,000 shares outstanding.
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