Bridgford Foods (BRID) 10-Q 9 Mar 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 26, 2018	Mar. 09, 2018
Document And Entity Information
Entity Registrant Name	BRIDGFORD FOODS CORP
Entity Central Index Key	14,177
Document Type	10-Q
Document Period End Date	Jan. 26, 2018
Amendment Flag	false
Current Fiscal Year End Date	--11-03
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,076,832
Trading Symbol	BRID
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 26, 2018	Nov. 03, 2017
Current assets:
Cash and cash equivalents	$ 7,221	$ 12,109
Accounts receivable, less allowance for doubtful accounts of $58 and $30, respectively, and promotional allowances of $2,515 and $2,537, respectively	17,745	19,148
Inventories, less inventory reserves of $432 and $358, respectively (Note 2)	23,770	23,016
Prepaid expenses and other current assets	1,559	1,550
Total current assets	50,295	55,823
Property, plant and equipment, net of accumulated depreciation and amortization of $64,532 and $63,722, respectively	21,313	18,571
Other non-current assets	13,639	13,111
Deferred income taxes (Note 5)	6,840	10,040
Total assets	92,087	97,545
Current liabilities:
Accounts payable	5,123	5,365
Accrued payroll, advertising and other expenses	4,379	4,555
Current portion of non-current liabilities	5,689	6,108
Income taxes payable	216	216
Total current liabilities	15,407	16,244
Non-current liabilities	22,269	25,263
Total liabilities	37,676	41,507
Commitments and contingencies (Note 3)
Shareholders' equity:
Preferred stock, without par value; authorized - 1,000 shares; issued and outstanding - none
Common stock, $1.00 par value; authorized - 20,000 shares; issued and outstanding - 9,076 and 9,076 shares, respectively	9,134	9,134
Capital in excess of par value	8,298	8,298
Retained earnings	57,804	56,902
Accumulated other comprehensive loss	(20,825)	(18,296)
Total shareholders' equity	54,411	56,038
Total liabilities and shareholders' equity	$ 92,087	$ 97,545

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 26, 2018	Nov. 03, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 58	$ 30
Accounts receivable, allowance for promotional allowances	2,515	2,537
Inventories, reserves	432	358
Property, plant and equipment, accumulated depreciation	$ 64,532	$ 63,722
Preferred stock, par value
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	9,076,000	9,076,000
Common stock, shares outstanding	9,076,000	9,076,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
Income Statement [Abstract]
Net sales	$ 41,192	$ 40,081
Cost of products sold	27,233	25,166
Gross margin	13,959	14,915
Selling, general and administrative expenses	11,864	11,465
Income before taxes	2,095	3,450
Income tax provision (Note 5 Income Taxes)	3,722	976
Net (loss) income	$ (1,627)	$ 2,474
Net (loss) income per share - Basic and diluted	$ (0.18)	$ 0.27
Weighted average common shares - Basic and diluted	9,077,000	9,077,000

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - 3 months ended Jan. 26, 2018 - USD ($) $ in Thousands	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Nov. 03, 2017	$ 9,134	$ 8,298	$ 56,902	$ (18,296)	$ 56,038
Balance, shares at Nov. 03, 2017	9,076,000
Net loss			(1,627)		(1,627)
Reclassification upon early adoption of ASU 2018-02 (Note 5)			2,529	(2,529)
Balance at Jan. 26, 2018	$ 9,134	$ 8,298	$ 57,804	$ (20,825)	$ 54,411
Balance shares at Jan. 26, 2018	9,076,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
Cash flows from operating activities:
Net (loss) income	$ (1,627)	$ 2,474
Income or charges not affecting cash and cash equivalents:
Depreciation	878	687
Provision for losses on accounts receivable	35	1
Provision for (reduction in) promotional allowances	23	(254)
Gain on sale of property, plant and equipment	(7)	(4)
Deferred income taxes	3,200
Changes in operating assets and liabilities:
Accounts receivable	1,345	(33)
Inventories	(754)	4,913
Prepaid expenses and other current assets	(9)	(588)
Other non-current assets	(528)	(279)
Accounts payable	(242)	(117)
Accrued payroll, advertising and other expenses	(560)	877
Non-current liabilities	(2,994)	(1,092)
Net cash (used in) provided by operating activities	(1,240)	6,585
Cash used in investing activities:
Proceeds from sale of property, plant and equipment	7	4
Additions to property, plant and equipment	(3,620)	(1,044)
Net cash used in investing activities	(3,613)	(1,040)
Cash used in financing activities:
Payment of capital lease obligations	(35)	(33)
Net cash used in financing activities	(35)	(33)
Net (decrease) increase in cash and cash equivalents	(4,888)	5,512
Cash and cash equivalents at beginning of period	12,109	6,985
Cash and cash equivalents at end of period	7,221	12,497
Supplemental cash flow information:
Cash paid for income taxes	$ 1,198	$ 1,291

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jan. 26, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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-weeks ended January 26, 2018 and January 20, 2017 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 November 3, 2017 (as amended on Form 10-K/A, 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 Report. The November 3, 2017 balance sheet amounts within these interim condensed consolidated financial statements were derived from the audited fiscal 2017 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. 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, plant 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 January 26, 2018, 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 with regards to its 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 twelve-weeks ended January 26, 2018 and January 20, 2017, respectively. Customer Concentration > 20% of AR or 10% of Sales * Wal-Mart Dollar General Sales AR Sales AR January 26, 2018 36.0 % 32.7 % 8.7 % 22.4 % January 20, 2017 37.0 % 31.7 % 8.9 % 24.0 % * = No other customer accounted for more than 20% of consolidated accounts receivable or 10% of consolidated sales for the twelve-weeks ended January 26, 2018 or the twelve-weeks ended January 20, 2017. Subsequent events Management has evaluated events subsequent to January 26, 2018 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. On March 7, 2018, the Company sold a parcel of land in Chicago, Illinois for approximately $6,000. As a result, the Company will recognize a pre-tax gain on the sale in the second twelve weeks of fiscal year 2018. The cost basis of the land is insignificant. 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 January 26, 2018 or January 20, 2017.

Inventories

Inventories	3 Months Ended
	Jan. 26, 2018
Inventory Disclosure [Abstract]
Inventories	Note 2 - Inventories: Inventories are comprised of the following at the respective period ends: (unaudited) January 26, 2018 November 3, 2017 Meat, ingredients and supplies $ 6,847 $ 5,409 Work in progress 1,129 1,501 Finished goods 15,794 16,106 $ 23,770 $ 23,016 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jan. 26, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 3 - Commitments and Contingencies: We invested in OTR (over-the-road) tractors financed by a capital lease obligation in the amount of $1,060 during fiscal 2012. The total capital lease obligation remaining for transportation equipment as of January 26, 2018 is $389. The lease arrangement also contains a variable component of seven cents per mile based on miles driven over the lease life. 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 twelve-weeks of fiscal 2018. 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 January 26, 2018. The Company does not participate in the commodity futures market or hedging to limit commodity exposure. Expenditures for additions to property, plant and equipment during the first twelve weeks of fiscal 2018 include initial payments of $2,200 on the purchase of a smokehouses and chillers which will cost approximately $5,700.

Segment Information

Segment Information	3 Months Ended
	Jan. 26, 2018
Segment Reporting [Abstract]
Segment Information	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-weeks ended January 26, 2018 and January 20, 2017. Segment Information Twelve-weeks Ended January 26, 2018 Frozen Food Products Snack Food Products Other Totals Sales $ 10,591 $ 30,601 $ - $ 41,192 Cost of products sold 7,161 20,072 - 27,233 Gross margin 3,430 10,529 - 13,959 SG&A 3,384 8,480 - 11,864 Income before taxes 46 2,049 - 2,095 Total assets $ 11,239 $ 51,887 $ 28,961 $ 92,087 Additions to PP&E $ 125 $ 3,495 $ - $ 3,620 Twelve-weeks Ended January 20, 2017 Frozen Food Products Snack Food Products Other Totals Sales $11,715 $28,366 $- $40,081 Cost of products sold 7,364 17,802 - 25,166 Gross margin 4,351 10,564 - 14,915 SG&A 3,573 7,892 - 11,465 Income before taxes 778 2,672 - 3,450 Total assets $ 10,290 $ 36,465 $ 42,608 $ 89,363 Additions to PP&E $ 25 $ 1,019 $ - $ 1,044

Income Taxes

Income Taxes	3 Months Ended
	Jan. 26, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 5 – Income Taxes: On December 22, 2017, President Trump signed into law the “Tax Cuts and Jobs Act” (the “Tax Act”). The Tax Act includes significant changes to the U.S. tax code that will affect our fiscal year ending November 2, 2018, and future periods, including, but not limited to, (1) reducing the corporate federal income tax rate from 35% to 21%, (2) bonus depreciation that will allow for full expensing of qualified property in the year placed in service, and (3) the repeal of the domestic production activity deduction beginning with our fiscal year 2019. Section 15 of the Internal Revenue Code (the “Code”) stipulates that our fiscal year ending November 2, 2018, will have a blended corporate tax rate of 23.07%, which is based on the applicable tax rates before and after the Tax Act and the number of days in the year. Under generally accepted accounting principles (“U.S. GAAP”) specifically ASC Topic 740, Income Taxes, The staff of the U.S. Securities and Exchange Commission has recognized the complexity of reflecting the impacts of the Tax Act and issued guidance in Staff Accounting Bulletin 118 (“SAB 118”), which clarifies accounting for income taxes under ASC 740 if information is not yet available or complete and provides for up to a one year period in which to complete the required analyses and accounting (the “measurement period”). SAB 118 describes three scenarios (or “buckets”) associated with a company’s status of accounting for income tax reform: (1) a company is complete with its accounting for certain effects of tax reform, (2) a company is able to determine a reasonable estimate for certain effects of tax reform and records that estimate as a provisional amount, or (3) a company is not able to determine a reasonable estimate and therefore continues to apply ASC 740, based on the provisions of the tax laws that were in effect immediately prior to the Tax Act being enacted. Our accounting for the Tax Act is incomplete. However, we were able to make reasonable estimates of certain effects and, therefore, recorded provisional adjustments as follows: Corporate Tax Rate Reduction The changes included in the Tax Act are broad and complex. The final transition impacts of the Tax Act may differ from the above estimates, due to, among other things, changes in interpretations of the Tax Act, any legislative action to address questions that arise because of the Tax Act, any changes in accounting standards for income taxes or related interpretations in response to the Tax Act, or any updates or changes to estimates the company has utilized to calculate the impacts. The effective tax rate was 177.68% and 28.3% for the first quarter of fiscal 2018 and 2017, respectively. The remeasurement of deferred income taxes at newly enacted tax rates resulted in a $3,200 million income tax expense or a152.77 % impact on the effective tax rate in the first quarter, and the newly enacted tax legislation resulted in a 23.07% statutory federal income tax rate for fiscal 2018. Additionally, the effective tax rates for the first quarter of fiscal 2018 and fiscal 2017 were impacted by such items as the domestic production deduction, non- taxable gains and losses on life insurance policies and state income taxes. The Company adopted ASU 2018-02, Income Statement-Reporting Other Comprehensive Income (OCI) (Topic 220) in the twelve weeks ended January 26,2018. As a result of the remeasurement of deferred tax assets related to the Tax Act we reclassified $2,529 from Other Comprehensive Income to Retained Earnings. The components of the tax provision are as follows: 12 weeks ended January 26, 2018 Tax provision at estimated annual effective rate $ 522 Deferred income tax adjustment - OCI 2,529 Deferred income tax adjustment – Non-OCI 671 Income tax provision $ 3,722 We recorded an income tax provision of $976 for the twelve-week period ended January 20, 2017, related to federal and state taxes, based on the Company’s expected annual effective tax rate. As of January 26, 2018, the Company did not have any outstanding federal or state, other than California, 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, 2014 through 2017. 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, 2013 through 2017.

Summary of Significant Accoun12

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jan. 26, 2018
Accounting Policies [Abstract]
Subsequent Events	Subsequent events Management has evaluated events subsequent to January 26, 2018 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. On March 7, 2018, the Company sold a parcel of land in Chicago, Illinois for approximately $6,000. As a result, the Company will recognize a pre-tax gain on the sale in the second twelve weeks of fiscal year 2018. The cost basis of the land is insignificant.
Basic and Diluted Earnings Per Share	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 January 26, 2018 or January 20, 2017.

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jan. 26, 2018
Accounting Policies [Abstract]
Schedule of Customer Concentration	Customer Concentration > 20% of AR or 10% of Sales * Wal-Mart Dollar General Sales AR Sales AR January 26, 2018 36.0 % 32.7 % 8.7 % 22.4 % January 20, 2017 37.0 % 31.7 % 8.9 % 24.0 % * = No other customer accounted for more than 20% of consolidated accounts receivable or 10% of consolidated sales for the twelve-weeks ended January 26, 2018 or the twelve-weeks ended January 20, 2017.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jan. 26, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are comprised of the following at the respective period ends: (unaudited) January 26, 2018 November 3, 2017 Meat, ingredients and supplies $ 6,847 $ 5,409 Work in progress 1,129 1,501 Finished goods 15,794 16,106 $ 23,770 $ 23,016

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jan. 26, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following segment information is presented for the twelve-weeks ended January 26, 2018 and January 20, 2017. Segment Information Twelve-weeks Ended January 26, 2018 Frozen Food Products Snack Food Products Other Totals Sales $ 10,591 $ 30,601 $ - $ 41,192 Cost of products sold 7,161 20,072 - 27,233 Gross margin 3,430 10,529 - 13,959 SG&A 3,384 8,480 - 11,864 Income before taxes 46 2,049 - 2,095 Total assets $ 11,239 $ 51,887 $ 28,961 $ 92,087 Additions to PP&E $ 125 $ 3,495 $ - $ 3,620 Twelve-weeks Ended January 20, 2017 Frozen Food Products Snack Food Products Other Totals Sales $11,715 $28,366 $- $40,081 Cost of products sold 7,364 17,802 - 25,166 Gross margin 4,351 10,564 - 14,915 SG&A 3,573 7,892 - 11,465 Income before taxes 778 2,672 - 3,450 Total assets $ 10,290 $ 36,465 $ 42,608 $ 89,363 Additions to PP&E $ 25 $ 1,019 $ - $ 1,044

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jan. 26, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Tax Provision	The components of the tax provision are as follows: 12 weeks ended January 26, 2018 Tax provision at estimated annual effective rate $ 522 Deferred income tax adjustment - OCI 2,529 Deferred income tax adjustment – Non-OCI 671 Income tax provision $ 3,722

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
March 7, 2018 [Member]
Parcel of land sold, value	$ 60,000
Accounts Receivable [Member]
Concentration risk, percentage	20.00%	20.00%
Sales Revenue, Net [Member]
Concentration risk, percentage	10.00%	10.00%

Summary of Significant Accoun18

Summary of Significant Accounting Policies - Schedule of Customer Concentration (Details)	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
Sales Revenue, Net [Member]
Concentration risk, percentage	10.00%	10.00%
Sales Revenue, Net [Member] | Wal-Mart [Member]
Concentration risk, percentage	36.00%	37.00%
Sales Revenue, Net [Member] | Dollar General [Member]
Concentration risk, percentage	8.70%	8.90%
Accounts Receivable [Member]
Concentration risk, percentage	20.00%	20.00%
Accounts Receivable [Member] | Wal-Mart [Member]
Concentration risk, percentage	32.70%	31.70%
Accounts Receivable [Member] | Dollar General [Member]
Concentration risk, percentage	22.40%	24.00%

Summary of Significant Accoun19

Summary of Significant Accounting Policies - Schedule of Customer Concentration (Details) (Parenthetical)	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
Sales Revenue, Net [Member]
Concentration risk, percentage	10.00%	10.00%
Accounts Receivable [Member]
Concentration risk, percentage	20.00%	20.00%

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jan. 26, 2018	Nov. 03, 2017
Inventory Disclosure [Abstract]
Meat, ingredients and supplies	$ 6,847	$ 5,409
Work in process	1,129	1,501
Finished goods	15,794	16,106
Inventories, net	$ 23,770	$ 23,016

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017	Nov. 02, 2012
Capital lease obligation	$ 389		$ 1,060
Property, plant and equipment additions	3,620	$ 1,044
Payments to acquire property plant and equipment	3,620	$ 1,044
Smokehouse And Chiller [Member]
Property, plant and equipment additions	2,200
Payments to acquire property plant and equipment	$ 5,700

Segment Information (Details Na

Segment Information (Details Narrative)	3 Months Ended
	Jan. 26, 2018Segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017	Nov. 03, 2017
Sales	$ 41,192	$ 40,081
Cost of products sold	27,233	25,166
Gross margin	13,959	14,915
SG&A	11,864	11,465
Income before taxes	2,095	3,450
Total assets	92,087	89,363	$ 97,545
Additions to PP&E	3,620	1,044
Frozen Food Products [Member]
Sales	10,591	11,715
Cost of products sold	7,161	7,364
Gross margin	3,430	4,351
SG&A	3,384	3,573
Income before taxes	46	778
Total assets	11,239	10,290
Additions to PP&E	125	25
Snack Food Products [Member]
Sales	30,601	28,366
Cost of products sold	20,072	17,802
Gross margin	10,529	10,564
SG&A	8,480	7,892
Income before taxes	2,049	2,672
Total assets	51,887	36,465
Additions to PP&E	3,495	1,019
Other [Member]
Sales
Cost of products sold
Gross margin
SG&A
Income before taxes
Total assets	28,961	42,608
Additions to PP&E

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 22, 2017	Jan. 26, 2018	Jan. 20, 2017
Federal tax rate, percentage	35.00%	35.00%
Effective income tax rate		177.68%	28.30%
Deferred income tax expense		$ 3,200
Income tax description		The remeasurement of deferred income taxes at newly enacted tax rates resulted in a $3.2 million income tax expense or a152.77 % impact on the effective tax rate in the first quarter, and the newly enacted tax legislation resulted in a 23.07% statutory federal income tax rate for fiscal 2018.
Income tax provision		$ 3,722	$ 976
Reclassified other comprehensive icome to retained earnings		$ 2,529
November 2, 2018 [Member]
Effective income tax rate	23.07%
Fiscal Year 2018 [Member]
Effective income tax rate		23.07%
Fiscal Year 2018 [Member] | Deferred Tax [Member]
Effective income tax rate		23.07%
Theareafter [Member]
Effective income tax rate		21.00%
Theareafter [Member] | Deferred Tax [Member]
Effective income tax rate		21.00%
Reduced Federal Tax Rate [Member]
Federal tax rate, percentage	21.00%	21.00%

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 26, 2018	Jan. 20, 2017
Income Tax Disclosure [Abstract]
Tax provision at estimated annual effective rate	$ 522
Deferred income tax adjustment - OCI	2,529
Deferred income tax adjustment - Non-OCI	671
Income tax provision	$ 3,722	$ 976