XML 22 R10.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information
 8 Months Ended
Jul. 10, 2020
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 food 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 (“SG&A”) 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 July 10, 2020 and July 12, 2019.

 

Segment Information
Twelve weeks Ended July 10, 2020   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 8,141     $ 33,519     $ -     $ 41,660  
Cost of products sold     5,379       24,249       -       29,628  
Gross margin     2,762       9,270       -       12,032  
SG&A     2,162       8,021       -       10,183  
Gain on sale of property, plant and equipment     -       (5 )     -       (5 )
Income before taxes     600       1,254       -       1,854  
                                 
Total assets   $ 11,033     $ 100,244     $ 35,371     $ 146,648  
Additions to PP&E   $ 53     $ 4,220     $ -     $ 4,273  

 

Twelve weeks Ended July 12, 2019   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 11,273     $ 31,564     $ -     $ 42,837  
Cost of products sold     7,486       21,936       -       29,422  
Gross margin     3,787       9,628       -       13,415  
SG&A     3,434       8,385       -       11,819  
Gain on sale of property, plant and equipment     (9 )     -       -       (9 )
Income before taxes     362       1,243       -       1,605  
                                 
Total assets   $ 11,350     $ 83,478     $ 25,406     $ 120,234  
Additions to PP&E   $ 198     $ 5,475     $ -     $ 5,673  

 

The following segment information is presented for the thirty-six weeks ended July 10, 2020 and July 12, 2019.

 

Thirty-six weeks Ended July 10, 2020   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 28,440     $ 102,861     $ -     $ 131,301  
Cost of products sold     19,434       71,871       -       91,305  
Gross margin     9,006       30,990       -       39,996  
SG&A     8,768       27,613       -       36,381  
Gain on sale of property, plant and equipment     -       (22 )     -       (22 )
Income before taxes     238       3,399       -       3,637  
                                 
Total assets   $ 11,033     $ 100,244     $ 35,371     $ 146,648  
Additions to PP&E   $ 157     $ 15,100     $ -     $ 15,257  

 

Thirty-six weeks Ended July 12, 2019   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 34,691     $ 94,630     $ -     $ 129,321  
Cost of products sold     22,800       63,051       -       85,851  
Gross margin     11,891       31,579       -       43,470  
SG&A     10,325       26,189       -       36,514  
Gain on sale of property, plant and equipment     (9 )     -       -       (9 )
Income before taxes     1,575       5,390       -       6,965  
                                 
Total assets   $ 11,350     $ 83,478     $ 25,406     $ 120,234  
Additions to PP&E   $ 476     $ 19,315     $ -     $ 19,791  

 

The following information further disaggregates our sales to customers by major distribution channel and customer type for the twelve weeks ended July 10, 2020 and July 12, 2019, respectively.

 

Twelve weeks Ended July 10, 2020

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 27,934     $ -     $ 27,934  
Direct customer warehouse     5,585       -       5,585  
Total Snack Food Products     33,519       -       33,519  
                         
Distributors     2,235       5,906       8,141  
Total Frozen Food Products     2,235       5,906       8,141  
                         
Totals   $ 35,754     $ 5,906     $ 41,660  

 

Twelve weeks Ended July 12, 2019

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 23,046     $ -     $ 23,046  
Direct customer warehouse     8,518       -       8,518  
Total Snack Food Products     31,564       -       31,564  
                         
Distributors     1,009       10,264       11,273  
Total Frozen Food Products     1,009       10,264       11,273  
                         
Totals   $ 32,573     $ 10,264     $ 42,837  

 

(a) Includes sales to food retailers, such as grocery retailers, warehouse club stores, and internet-based retailers.
   
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.

 

The following information further disaggregates our sales to customers by major distribution channel and customer type for the thirty-six weeks ended July 10, 2020 and July 12, 2019, respectively.

 

Thirty-six weeks Ended July 10, 2020

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 78,929     $ -     $ 78,929  
Direct customer warehouse     23,932       -       23,932  
Total Snack Food Products     102,861       -       102,861  
                         
Distributors     6,902       21,538       28,440  
Total Frozen Food Products     6,902       21,538       28,440  
                         
Totals   $ 109,763     $ 21,538     $ 131,301  

 

Thirty-six weeks Ended July 12, 2019

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 69,270     $ -     $ 69,270  
Direct customer warehouse     25,360       -       25,360  
Total Snack Food Products     94,630       -       94,630  
                         
Distributors     4,648       30,043       34,691  
Total Frozen Food Products     4,648       30,043       34,691  
                         
Totals   $ 99,278     $ 30,043     $ 129,321  

 

(a) Includes sales to food retailers, such as grocery retailers, warehouse club stores, and internet-based retailers.
   
(b) Includes sales to foodservice distributors, restaurant operators, hotel chains and noncommercial foodservice establishments such as schools, convenience stores, healthcare facilities and the military.