Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 32

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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178,389 from $375,451, decreasing as a percentage of sales to 4.6% from 8.6% in the prior year. The decrease is attributed to the timing of certain expenses and company-wide cost control initiatives.

Operating Income (Loss)

Income from operations improved to income of $735,042, compared to a $75,011 loss in the same period of 2024. This improvement reflects cost-saving initiatives, better margins despite lower sales, and a net gain of $242,231 from the sale of assets, net of costs associated with closed units held for sale.

Other Income and Expenses

 ·Unrealized gain on marketable securities was $462,020 compared to an unrealized loss of $69,933 in 2024. ·Realized investment gains were $138,890 versus a realized loss of $343 in 2024. ·Interest expense was $16,385, slightly lower than $22,552 in 2024 as a result of principal reduction. ·Interest and dividend income was $31,866 compared to $50,142 in 2024. ·Equity in the Bagger Dave’s affiliate loss was $99,734 versus $115.782 in the prior year. ·An impairment charge of $304,000 was recorded to write down the Company’s investment in NGI ·No income tax expense was recorded for the quarter, compared to a $14,000 tax benefit in the same period last year.

Net Income (Loss)

Net income for the thirteen weeks ending September 28, 2025, was $914,976 (23.7% of sales) compared to a net loss of $219,479 (5.0% of sales) in 2024. The improved results were the result of expense reductions, disciplined cost management, and improvements in operating performance, as well as the sale of property, non-operating investment gains, and dividends.

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Results of Operations – Thirty-nine Weeks Ended September 28, 2025 Compared to Thirty-nine Weeks Ended September 29, 2024

Overview of Results

For the thirty-nine weeks ending September 28, 2025, net sales were $10.86 million, a decrease of $785,165 or 6.7% compared to $11.65 million for the same period in 2024. Total costs and expenses decreased to $10.50 million from $12.54 million in the