Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 100

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 2
Chunk 100
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2025 
     31.3% 
     25.2% 
     13.1% 
     24.2%
  
    April 19, 2024 
     28.4% 
     25.1% 
     13.3% 
     22.1%

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 who take
title to the product upon shipment receipt through third-party logistic providers/carriers. We leverage relationships with regional sales
managers, and we maintain a network of independent food service and retail brokers covering most of the United States. Brokers are compensated
on a commission basis. We believe that our brokers, in close cooperation with our regional sales managers, are a valuable asset providing
significant new products and customer opportunities. Regional sales managers perform several significant functions for us, including
identifying and developing new business opportunities and providing customer service and support to our distributors and end purchasers
often with the assistance of our broker partners.

Snack
Food Products Segment

Our
Snack Food Products segment primarily distributes products manufactured by us. All items within this segment are considered similar products
and have been aggregated at