XML 22 R10.htm IDEA: XBRL DOCUMENT v3.20.4
Segment Information
 3 Months Ended
Jan. 22, 2021
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 are not attributable to each operating segment and thus have been included as “other” in the accompanying segment information.

 

The following segment information is presented for the twelve weeks ended January 22, 2021 and January 24, 2020.

 

Segment Information
Twelve weeks Ended January 22, 2021   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 9,264     $ 45,429     $ -     $ 54,693  
Cost of products sold     6,440       33,702       -       40,142  
Gross margin     2,824       11,727       -       14,551  
SG&A     2,809       11,167       -       13,976  
Gain on sale of property, plant, and equipment     (33 )     (41 )     -       (74 )
Operating income     48       601       -       649  
                                 
Total assets   $ 10,089     $ 113,810     $ 32,710     $ 156,609  
Additions to PP&E   $ 70     $ 3,078     $ -     $ 3,148  

 

Twelve weeks Ended January 24, 2020   Frozen Food Products     Snack Food Products     Other     Totals  
Sales   $ 11,354     $ 35,288     $ -     $ 46,642  
Cost of products sold     7,673       23,915       -       31,588  
Gross margin     3,681       11,373       -       15,054  
SG&A     3,311       9,647       -       12,958  
Gain on sale of property, plant, and equipment     -       (13 )     -       (13 )
Operating income     370       1,739       -       2,109  
                                 
Total assets   $ 11,025     $ 98,334     $ 20,253     $ 129,612  
Additions to PP&E   $ 37     $ 6,137     $ -     $ 6,174  

 

The following information further disaggregates our sales to customers by major distribution channel and customer type for the twelve weeks ended January 22, 2021 and January 24, 2020, respectively.

 

Twelve weeks Ended January 22, 2021

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 35,692     $ -     $ 35,692  
Direct customer warehouse     9,737       -       9,737  
Total Snack Food Products     45,429       -       45,429  
                         
Distributors     2,970       6,294       9,264  
Total Frozen Food Products     2,970       6,294       9,264  
                         
Totals   $ 48,399     $ 6,294     $ 54,693  

 

Twelve weeks Ended January 24, 2020

 

Distribution Channel   Retail (a)     Foodservice (b)     Totals  
Direct store delivery   $ 25,137     $ -     $ 25,137  
Direct customer warehouse     10,151       -       10,151  
Total Snack Food Products     35,288       -       35,288  
                         
Distributors     2,721       8,633       11,354  
Total Frozen Food Products     2,721       8,633       11,354  
                         
Totals   $ 38,009     $ 8,633     $ 46,642  

 

(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.