Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 59

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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 done in the past, our executive team will continue to assess the accounting
implications of the PPACA and potential future legislation to determine the impact on our financial position and results of operations.
The potential future effects and cost of complying with the legislative changes are not currently determinable.

15 of 25

Customer
Concentration > 20% of AR or >10% of Sales

The
table below shows customers that accounted for more than 20% of consolidated accounts receivable (“AR”) or 10% of consolidated
sales for the twelve weeks ended January 24, 2025, and January 26, 2024, respectively.

    Walmart  
    Dollar General 

    Sales  
    AR  
    Sales  
    AR 
  
    January 24, 2025 
     28.2% 
     25.9% 
     12.6% 
     17.9%
  
    January 26, 2024 
     28.4% 
     24.7% 
     15.5% 
     19.1%

Revenue
recognition

Revenues
are recognized in accordance with ASC 606 – Revenue from Contracts with Customers upon passage of title to the customer,
typically upon product pick-up, shipment, or delivery to customers. Products are delivered to customers primarily through  common carrier, or through a Company owned direct-store-delivery system.

Overview
of Reporting Segments

We
operate in two business segments – the processing and distribution of frozen food products (the “Frozen Food Products segment”),
and the processing and distribution of snack food products (the “Snack Food Products segment”). For information regarding the separate
financial performance of the business segments refer to Note 4 — Segment Information of the Notes to the Condensed Consolidated
Financial Statements included in this Report. We manufacture and distribute an extensive line of food products, including biscuits, bread
dough items, roll dough items, dry sausage products and beef jerky.

Frozen
Food Products Segment

Our
Frozen Food Products segment primarily manufactures and distributes biscuits, bread dough items, roll dough items and shelf stable sandwiches.
All items within this segment are considered similar products and have been aggregated at this level. Our frozen food business covers
the United States. We have shifted away from Company-leased long-haul vehicles toward less costly transportation methods such as common
carriers. Products produced by the Frozen Food Products segment are generally supplied to food service and retail distributors