Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 32

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 32
---
Consolidated

Income
tax for the twelve weeks ended April 18, 2025, and April 19, 2024, respectively, was as follows:

    April 18, 2025  
    April 19, 2024 
  
    (Benefit on) provision for income taxes 
    $(915) 
    $(877)

    Effective tax rate 
     19.2% 
     28.5%

We
recorded a benefit on income taxes of $915 for the twelve-week period ended April 18, 2025, and a benefit on income taxes of $877 for
the twelve-week period ended April 19, 2024, related to federal and state taxes, based on the Company’s expected annual effective
tax rate. The effective income tax rate differed from the applicable mixed statutory rate of approximately 26.4% due to non-deductible
meals and entertainment, non-taxable gains and losses on life insurance policies, and state income taxes.

 18 of 27 

Results
of Operations for the Twenty-Four Weeks Ended April 18, 2025, and April 19, 2024

Net
Sales-Consolidated

Net
sales increased by $1,028 (1.0%) to $103,184 in the twenty-four-week period ended April 18, 2025, compared to the same twenty-four-week
period in fiscal year 2024. The changes in net sales were comprised as follows:

    Impact on Net Sales-Consolidated 
    %  
    $ 
  
    Selling price per pound 
     3.9  
     4,368 
  
    Unit sales volume in pounds 
     -2.8  
     (3,134)
  
    Returns activity 
     -0.1  
     (75)
  
    Promotional activity 
     -  
     (131)
  
    Increase in net sales 
     1.0  
     1,028 

Net
Sales-Frozen Food Products Segment

Net
sales in the Frozen Food Products segment increased by $538 (2.0%) to $27,842 in the twenty-four-week period ended April 18, 2025, compared
to the same twenty-four-week period in fiscal year 2024. The changes in net sales were comprised as follows:

    Impact on Net Sales-Frozen Food Products 
    %