Bridgford Foods (BRID) 10-Q 27 May 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Apr. 15, 2016	May. 23, 2016
Entity Registrant Name	BRIDGFORD FOODS CORP
Entity Central Index Key	14,177
Trading Symbol	brid
Current Fiscal Year End Date	--10-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		9,076,832
Document Type	10-Q
Document Period End Date	Apr. 15, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Apr. 15, 2016	Oct. 30, 2015
Current assets:
Cash and cash equivalents	$ 10,266,000	$ 5,842,000
Accounts receivable, less allowance for doubtful accounts of $53 and $146, respectively, and promotional allowances of $2,832 and $3,061, respectively	15,095,000	14,619,000
Inventories, less inventory reserves of $323 and $381, respectively (Note 2)	18,577,000	19,977,000
Prepaid expenses and other current assets	1,027,000	319,000
Total current assets	44,965,000	40,757,000
Property, plant and equipment, net of accumulated depreciation and amortization of $61,201 and $60,454, respectively	9,811,000	10,235,000
Other non-current assets	24,226,000	24,310,000
Total assets	79,002,000	75,302,000
Current liabilities:
Accounts payable	5,101,000	6,087,000
Accrued payroll, advertising and other expenses	4,593,000	5,203,000
Current portion of non-current liabilities	3,230,000	2,825,000
Income taxes payable	864,000	96,000
Total current liabilities	13,788,000	14,211,000
Non-current liabilities	26,245,000	25,446,000
Total liabilities	40,033,000	39,657,000
Shareholders’ equity:
Preferred stock, without par value; authorized – 1,000 shares; issued and outstanding – none	0	0
Common stock, $1.00 par value; authorized – 20,000 shares; issued and outstanding –9,076 and 9,080 shares, respectively	9,134,000	9,138,000
Capital in excess of par value	8,298,000	8,334,000
Retained earnings	43,667,000	40,303,000
Accumulated other comprehensive loss	(22,130,000)	(22,130,000)
Total shareholders’ equity	38,969,000	35,645,000
Total liabilities and shareholders’ equity	$ 79,002,000	$ 75,302,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Apr. 15, 2016	Oct. 30, 2015
Accounts receivable, allowance for doubtful accounts	$ 53	$ 146
Accounts receivable, allowance for promotional allowances	2,832	3,061
Inventories, reserves	323	381
Property, plant and equipment, accumulated depreciation	$ 61,201	$ 60,454
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	9,076,000	9,080,000
Common stock, shares outstanding (in shares)	9,076,000	9,080,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015	Apr. 15, 2016	Apr. 17, 2015
Net sales	$ 31,145,000	$ 26,696,000	$ 67,301,000	$ 61,407,000
Cost of products sold	18,914,000	16,419,000	41,291,000	41,513,000
Gross margin	12,231,000	10,277,000	26,010,000	19,894,000
SG&A	9,760,000	8,075,000	20,438,000	17,225,000
Income before taxes	2,471,000	2,202,000	5,572,000	2,669,000
Income tax provision	979,000	0	2,208,000	0
Net income	$ 1,492,000	$ 2,202,000	$ 3,364,000	$ 2,669,000
Net income per share – Basic and diluted (in dollars per share)	$ 0.16	$ 0.24	$ 0.37	$ 0.29
Weighted average common shares – Basic and diluted (in shares)	9,077	9,104	9,079	9,109

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015
Cash flows from operating activities:
Net income	$ 3,364,000	$ 2,669,000
Income or charges not affecting cash and cash equivalents:
Depreciation	1,434,000	1,462,000
(Recovery on) provision for losses on accounts receivable	(130,000)	45,000
(Reduction in) provision for promotional allowances	(229,000)	379,000
Gain on sale of property, plant and equipment	(7,000)	(117,000)
Changes in operating assets and liabilities:
Accounts receivable	(117,000)	224,000
Inventories	1,400,000	5,595,000
Prepaid expenses and other current assets	(708,000)	(445,000)
Other non-current assets	84,000	(135,000)
Accounts payable	(1,082,000)	(1,137,000)
Accrued payroll, advertising and other expenses	(205,000)	$ (185,000)
Income taxes payable	864,000
Non-current liabilities	872,000	$ (462,000)
Net cash provided by operating activities	5,540,000	7,893,000
Cash used in investing activities:
Proceeds from sale of property, plant and equipment	12,000	29,000
Additions to property, plant and equipment	(1,015,000)	(293,000)
Net cash used in investing activities	(1,003,000)	(264,000)
Cash used in financing activities:
Shares repurchased	(40,000)	(119,000)
Payment of capital lease obligations	(73,000)	(103,000)
Net cash used in financing activities	(113,000)	(222,000)
Net increase in cash and cash equivalents	4,424,000	7,407,000
Cash and cash equivalents at beginning of period	5,842,000	192,000
Cash and cash equivalents at end of period	10,266,000	7,599,000
Supplemental cash flow information:
Cash paid for income taxes	$ 1,559,000	0
Returned OTR (over-the-road) tractors originally financed by capital lease obligation		$ (656,000)

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	6 Months Ended
	Apr. 15, 2016
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	20% of AR or 10% of Sales * Wal-Mart Dollar General Sales AR Sales AR April 15, 2016 39.1 % 45.7 % 0.0 % 0.0 % April 17, 2015 28.4 % 32.3 % 8.8 % 21.8 % * = No other customer accounted for more than 20% of consolidated accounts receivable or 10% of consolidated sales for the twenty-four weeks ended April 15, 2016 or the twenty-four weeks ended April 17, 2015. Subsequent events Management has evaluated events subsequent to April 15, 2016 through the date that the accompanying condensed consolidated financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustments of and/or disclosure in such financial statements. Basic and diluted earnings per share Basic and diluted earnings per share are calculated based on the weighted average number of shares outstanding for all periods presented. No stock options, warrants, or convertible securities were outstanding as of April 15, 2016 or April 17, 2015, respectively." id="sjs-B4">Note 1 - Summary of Significant Accounting Policies: The unaudited condensed consolidated financial statements of Bridgford Foods Corporation (the "Company", "we", "our", "us") for the twelve and twenty-four weeks ended April 15, 2016 and April 17, 2015 have been prepared in conformity with the accounting principles described in the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2015 (the "Annual Report") and include all adjustments considered necessary by management for a fair presentation of the interim periods. This report should be read in conjunction with the Annual Report. Due to seasonality and other factors, interim results are not necessarily indicative of the results for the full year. Recent accounting pronouncements and their effect on the Company are discussed in Management's Discussion and Analysis of Financial Condition and Results of Operations in this Form 10-Q. The October 30, 2015 balance sheet amounts within these interim condensed consolidated financial statements were derived from the audited fiscal 2015 financial statements. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported revenues and expenses during the reporting periods. Actual results may vary from these estimates. Some of the estimates needed to be made by management include the allowance for doubtful accounts, promotional and returns allowances, inventory reserves, the estimated useful lives of property and equipment, and the valuation allowance for the Company’s deferred tax assets. Actual results could materially differ from these estimates. Amounts estimated related to liabilities for self-insured workers’ compensation, employee healthcare and pension benefits are especially subject to inherent uncertainties and these estimated liabilities may ultimately settle at amounts which vary from our current estimates. Market conditions and the volatility in stock markets may cause significant changes in the measurement of our pension fund liabilities and the performance of our life insurance policies in future periods. Financial instruments that subject the Company to credit risk consist primarily of cash and cash equivalents, accounts receivable, accounts payable and accrued payroll, advertising and other expenses. The carrying amount of these instruments approximate fair market value due to their short term maturity. At April 15, 2016, the Company had accounts in excess of the Federal Deposit Insurance Corporation insurance coverage limit. The Company has not experienced any losses in these accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents. The Company grants payment terms to a significant number of customers that are diversified over a wide geographic area. The Company monitors the payment histories of its customers and maintains an allowance for doubtful accounts which is reviewed for adequacy on a quarterly basis. The Company does not require collateral from its customers. The table below shows customers that accounted for more than 20% of consolidated accounts receivable (“AR”) or 10% of consolidated sales for the twenty-four weeks ended April 15, 2016 and April 17, 2015, respectively. Customer Concentration > 20% of AR or 10% of Sales * Wal-Mart Dollar General Sales AR Sales AR April 15, 2016 39.1 % 45.7 % 0.0 % 0.0 % April 17, 2015 28.4 % 32.3 % 8.8 % 21.8 % * = No other customer accounted for more than 20% of consolidated accounts receivable or 10% of consolidated sales for the twenty-four weeks ended April 15, 2016 or the twenty-four weeks ended April 17, 2015. Subsequent events Management has evaluated events subsequent to April 15, 2016 through the date that the accompanying condensed consolidated financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustments of and/or disclosure in such financial statements. Basic and diluted earnings per share Basic and diluted earnings per share are calculated based on the weighted average number of shares outstanding for all periods presented. No stock options, warrants, or convertible securities were outstanding as of April 15, 2016 or April 17, 2015, respectively.

Note 2 - Inventories

Note 2 - Inventories	6 Months Ended
	Apr. 15, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2 - Inventories: Inventories are comprised of the following at the respective period ends: (unaudited) April 15, 2016 October 30, 2015 Meat, ingredients and supplies $ 5,582 $ 5,268 Work in progress 1,139 1,125 Finished goods 11,856 13,584 $ 18,577 $ 19,977 Inventories are valued at the lower of cost (which approximates actual cost on a first-in, first-out basis) or market. Costs related to warehousing, transportation and distribution to customers are considered when computing market value. Inventories include the cost of ingredients, labor and manufacturing overhead. We regularly review inventory quantities on hand and write down any excess or obsolete inventories to estimated net realizable value. An inventory reserve is created when potentially slow-moving or obsolete inventories are identified in order to reflect the appropriate inventory value. Changes in economic conditions, production requirements, and lower than expected customer demand could result in additional obsolete or slow-moving inventory that cannot be sold or may need to be sold at reduced prices and could result in additional reserve provisions.

Note 3 - Commitments and Contin

Note 3 - Commitments and Contingencies	6 Months Ended
	Apr. 15, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 3 - Commitments and Contingencies: We invested in OTR (over-the-road) tractors during the third quarter of fiscal 2012 financed by a capital lease obligation in the amount of $1,848. After reevaluating our fleet delivery needs, we returned five OTR tractors financed by the capital lease arrangement with a remaining liability of $656 during the second quarter of fiscal 2015. The total capital lease obligation remaining for transportation equipment as of April 15, 2016 is $652. The lease arrangement also contains a variable component of seven cents per mile based on miles driven over the lease life. The capital lease arrangement replaced the long-standing month-to-month leases of transportation equipment. The Company also leases warehouse and/or office facilities throughout the United States through month-to-month rental agreements. No material changes have been made to these agreements during the first twenty-four weeks of fiscal 2016. The Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on the Company’s consolidated financial position or results of operations. Most flour purchases are made at market price without contracts. However, the Company may purchase bulk flour at current market prices under short-term (30 - 120 days) fixed price contracts during the normal course of business. Under these arrangements, the Company is obligated to purchase specific quantities at fixed prices, within the specified contract period. These contracts provide for automatic price increases if agreed quantities are not purchased within the specified contract period. The contracts are not material. These contracts are typically settled within a month’s time and no significant contracts remain open at the close of the quarterly or annual reporting period. No significant contracts remained unfulfilled at April 15, 2016. The Company does not participate in the commodity futures market or hedging to limit commodity exposure.

Note 4 - Segment Information

Note 4 - Segment Information	6 Months Ended
	Apr. 15, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 4 - Segment Information: The Company has two reportable operating segments, Frozen Food Products (the processing and distribution of frozen products) and Snack Food Products (the processing and distribution of meat and other convenience foods). We evaluate each segment's performance based on revenues and operating income. Selling, general and administrative expenses include corporate accounting, information systems, human resource management and marketing, which are managed at the corporate level. These activities are allocated to each operating segment based on revenues and/or actual usage. Assets managed at the corporate level have been included as “other” in the accompanying segment information. The following segment information is presented for the twelve and twenty-four weeks ended April 15, 2016 and April 17, 2015. Segment Information Twelve weeks Ended April 15, 2016 Frozen Food Products Snack Food Products Other Totals Sales $ 11,155 $ 19,990 $ - $ 31,145 Intersegment sales - - - - Net sales 11,155 19,990 - 31,145 Cost of products sold 6,987 11,927 - 18,914 Gross margin 4,168 8,063 - 12,231 SG&A 3,290 6,470 - 9,760 Income before taxes 878 1,593 - 2,471 Total assets $ 10,336 $ 33,161 $ 35,505 $ 79,002 Additions to PP&E $ 88 $ 349 $ - $ 437 Segment Information Twelve weeks Ended April 17, 2015 Frozen Food Products Snack Food Products Other Totals Sales $ 11,560 $ 15,136 $ - $ 26,696 Intersegment sales - - - - Net sales 11,560 15,136 - 26,696 Cost of products sold 7,103 9,316 - 16,419 Gross margin 4,457 5,820 - 10,277 SG&A 3,116 4,959 - 8,075 Income before taxes 1,341 861 - 2,202 Total assets $ 10,164 $ 25,750 $ 22,480 $ 58,394 Additions to PP&E $ (44 ) $ 171 $ 74 $ 201 Segment Information Twenty-four weeks Ended April 15, 2016 Frozen Food Products Snack Food Products Other Totals Sales $ 22,641 $ 44,660 $ - $ 67,301 Intersegment sales - - - - Net sales 22,641 44,660 - 67,301 Cost of products sold 14,093 27,198 - 41,291 Gross margin 8,548 17,462 - 26,010 SG&A 6,939 13,499 - 20,438 Income before taxes 1,609 3,963 - 5,572 Total assets $ 10,336 $ 33,161 $ 35,505 $ 79,002 Additions to PP&E $ 159 $ 858 $ (2 ) $ 1,015 Segment Information Twenty-four weeks Ended April 17, 2015 Frozen Food Products Snack Food Products Other Totals Sales $ 24,213 $ 37,194 $ - $ 61,407 Intersegment sales - - - - Net sales 24,213 37,194 - 61,407 Cost of products sold 14,914 26,599 - 41,513 Gross margin 9,299 10,595 - 19,894 SG&A 6,797 10,428 - 17,225 Income before taxes 2,502 167 - 2,669 Total assets $ 10,164 $ 25,750 $ 22,480 $ 58,394 Additions to PP&E $ 53 $ 229 $ 11 $ 293

Note 5 - Income Taxes

Note 5 - Income Taxes	6 Months Ended
	Apr. 15, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 5 – Income Taxes: The Company expects its effective tax rate for the 2016 fiscal year to be different from the federal statutory rate due to state taxes. The effective tax rate for the twelve week period ended April 15, 2016 was 39.6% to cover federal and state taxes as well as the federal alternative minimum tax. We recorded an income tax provision of $2,208 for the twenty-four week period ended April 15, 2016, related to federal and state taxes, based on the Company's expected annual effective tax rate. Our provision for the twenty-four week period ended April 17, 2015 was zero. The effective income tax rate differed from the applicable mixed statutory rate of approximately 37.7% primarily due to the valuation allowance reversal on our deferred tax assets in fiscal 2015. As of April 15, 2016, the Company did not have any outstanding federal or state net operating loss carryforwards. Our federal income tax returns are open to audit under the statute of limitations for the fiscal years ended on or about October 31, 2012 through 2014. We are subject to income tax in California and various other state taxing jurisdictions. Our California state income tax returns are open to audit under the statute of limitations for the fiscal years ended on or about October 31, 2011 through 2014.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Apr. 15, 2016
Accounting Policies [Abstract]
Subsequent Events, Policy [Policy Text Block]	Subsequent events Management has evaluated events subsequent to April 15, 2016 through the date that the accompanying condensed consolidated financial statements were filed with the Securities and Exchange Commission for transactions and other events which may require adjustments of and/or disclosure in such financial statements.
Earnings Per Share, Policy [Policy Text Block]	Basic and diluted earnings per share Basic and diluted earnings per share are calculated based on the weighted average number of shares outstanding for all periods presented. No stock options, warrants, or convertible securities were outstanding as of April 15, 2016 or April 17, 2015, respectively.

Note 1 - Summary of Significa12

Note 1 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Apr. 15, 2016
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	Wal-Mart Dollar General Sales AR Sales AR April 15, 2016 39.1 % 45.7 % 0.0 % 0.0 % April 17, 2015 28.4 % 32.3 % 8.8 % 21.8 %

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	6 Months Ended
	Apr. 15, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(unaudited) April 15, 2016 October 30, 2015 Meat, ingredients and supplies $ 5,582 $ 5,268 Work in progress 1,139 1,125 Finished goods 11,856 13,584 $ 18,577 $ 19,977

Note 4 - Segment Information (T

Note 4 - Segment Information (Tables)	6 Months Ended
	Apr. 15, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Segment Information Twelve weeks Ended April 15, 2016 Frozen Food Products Snack Food Products Other Totals Sales $ 11,155 $ 19,990 $ - $ 31,145 Intersegment sales - - - - Net sales 11,155 19,990 - 31,145 Cost of products sold 6,987 11,927 - 18,914 Gross margin 4,168 8,063 - 12,231 SG&A 3,290 6,470 - 9,760 Income before taxes 878 1,593 - 2,471 Total assets $ 10,336 $ 33,161 $ 35,505 $ 79,002 Additions to PP&E $ 88 $ 349 $ - $ 437 Segment Information Twelve weeks Ended April 17, 2015 Frozen Food Products Snack Food Products Other Totals Sales $ 11,560 $ 15,136 $ - $ 26,696 Intersegment sales - - - - Net sales 11,560 15,136 - 26,696 Cost of products sold 7,103 9,316 - 16,419 Gross margin 4,457 5,820 - 10,277 SG&A 3,116 4,959 - 8,075 Income before taxes 1,341 861 - 2,202 Total assets $ 10,164 $ 25,750 $ 22,480 $ 58,394 Additions to PP&E $ (44 ) $ 171 $ 74 $ 201 Segment Information Twenty-four weeks Ended April 15, 2016 Frozen Food Products Snack Food Products Other Totals Sales $ 22,641 $ 44,660 $ - $ 67,301 Intersegment sales - - - - Net sales 22,641 44,660 - 67,301 Cost of products sold 14,093 27,198 - 41,291 Gross margin 8,548 17,462 - 26,010 SG&A 6,939 13,499 - 20,438 Income before taxes 1,609 3,963 - 5,572 Total assets $ 10,336 $ 33,161 $ 35,505 $ 79,002 Additions to PP&E $ 159 $ 858 $ (2 ) $ 1,015 Segment Information Twenty-four weeks Ended April 17, 2015 Frozen Food Products Snack Food Products Other Totals Sales $ 24,213 $ 37,194 $ - $ 61,407 Intersegment sales - - - - Net sales 24,213 37,194 - 61,407 Cost of products sold 14,914 26,599 - 41,513 Gross margin 9,299 10,595 - 19,894 SG&A 6,797 10,428 - 17,225 Income before taxes 2,502 167 - 2,669 Total assets $ 10,164 $ 25,750 $ 22,480 $ 58,394 Additions to PP&E $ 53 $ 229 $ 11 $ 293

Note 1 - Summary of Significa15

Note 1 - Summary of Significant Accounting Policies (Details Textual)	6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015
Accounts Receivable [Member]
Concentration Risk, Percentage	20.00%	20.00%
Sales Revenue, Net [Member]
Concentration Risk, Percentage	10.00%	10.00%

Note 1 - Concentration Risk (De

Note 1 - Concentration Risk (Details)	6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015
Wal-Mart [Member] | Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]
Concentration Risk, Percentage	39.10%	28.40%
Wal-Mart [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk, Percentage	45.70%	32.30%
Dollar General [Member] | Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]
Concentration Risk, Percentage	0.00%	8.80%
Dollar General [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member]
Concentration Risk, Percentage	0.00%	21.80%
Accounts Receivable [Member]
Concentration Risk, Percentage	20.00%	20.00%

Note 2 - Schedule of Inventorie

Note 2 - Schedule of Inventories (Details) - USD ($) $ in Thousands	Apr. 15, 2016	Oct. 30, 2015
Meat, ingredients and supplies	$ 5,582	$ 5,268
Work in progress	1,139	1,125
Finished goods	11,856	13,584
	$ 18,577	$ 19,977

Note 3 - Commitments and Cont18

Note 3 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 17, 2015	Jul. 06, 2012	Apr. 15, 2016	Apr. 17, 2015
Capital Lease Obligations Incurred		$ 1,848,000
Return of Equipment Financed by Capital Lease	$ 656,000			$ 656,000
Capital Leases, Future Minimum Payments Due			$ 652,000

Note 4 - Segment Information (D

Note 4 - Segment Information (Details Textual)	12 Months Ended
	Oct. 30, 2015
Number of Reportable Segments	2

Note 4 - Segment Information 20

Note 4 - Segment Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015	Apr. 15, 2016	Apr. 17, 2015	Oct. 30, 2015
Frozen Food Products [Member]
Sales	$ 11,155,000	$ 11,560,000	$ 22,641,000	$ 24,213,000
Intersegment sales
Net sales	$ 11,155,000	$ 11,560,000	$ 22,641,000	$ 24,213,000
Cost of products sold	6,987,000	7,103,000	14,093,000	14,914,000
Gross margin	4,168,000	4,457,000	8,548,000	9,299,000
SG&A	3,290,000	3,116,000	6,939,000	6,797,000
Income before taxes	878,000	1,341,000	1,609,000	2,502,000
Total assets	10,336,000	10,164,000	10,336,000	10,164,000
Additions to PP&E	88,000	(44,000)	159,000	53,000
Refrigerated and Snack Food Products [Member]
Sales	$ 19,990,000	$ 15,136,000	$ 44,660,000	$ 37,194,000
Intersegment sales
Net sales	$ 19,990,000	$ 15,136,000	$ 44,660,000	$ 37,194,000
Cost of products sold	11,927,000	9,316,000	27,198,000	26,599,000
Gross margin	8,063,000	5,820,000	17,462,000	10,595,000
SG&A	6,470,000	4,959,000	13,499,000	10,428,000
Income before taxes	1,593,000	861,000	3,963,000	167,000
Total assets	33,161,000	25,750,000	33,161,000	25,750,000
Additions to PP&E	$ 349,000	$ 171,000	$ 858,000	$ 229,000
Other Segments [Member]
Sales
Intersegment sales
Net sales
Cost of products sold
Gross margin
SG&A
Income before taxes
Total assets	$ 35,505,000	$ 22,480,000	$ 35,505,000	$ 22,480,000
Additions to PP&E		74,000	(2,000)	11,000
Sales	$ 31,145,000	$ 26,696,000	$ 67,301,000	$ 61,407,000
Intersegment sales
Net sales	$ 31,145,000	$ 26,696,000	$ 67,301,000	$ 61,407,000
Cost of products sold	18,914,000	16,419,000	41,291,000	41,513,000
Gross margin	12,231,000	10,277,000	26,010,000	19,894,000
SG&A	9,760,000	8,075,000	20,438,000	17,225,000
Income before taxes	2,471,000	2,202,000	5,572,000	2,669,000
Total assets	79,002,000	58,394,000	79,002,000	58,394,000	$ 75,302,000
Additions to PP&E	$ 437,000	$ 201,000	$ 1,015,000	$ 293,000

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 15, 2016	Apr. 17, 2015	Apr. 15, 2016	Apr. 17, 2015
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year			2,012
Domestic Tax Authority [Member] | Latest Tax Year [Member]
Open Tax Year			2,014
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 0		$ 0
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year			2,011
State and Local Jurisdiction [Member] | Latest Tax Year [Member]
Open Tax Year			2,014
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 0		$ 0
Effective Income Tax Rate Reconciliation, Percent	39.60%
Income Tax Expense (Benefit)	$ 979,000	$ 0	$ 2,208,000	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	37.70%