XML 21 R10.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segment Information
 3 Months Ended
Jan. 21, 2022
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 21, 2022, and January 22, 2021.

 

  Frozen    Snack    Other   Totals 
Segment Information
Twelve weeks Ended January 21, 2022  Frozen Food Products   Snack Food Products   Other   Totals 
Sales  $12,366   $51,720   $-   $64,086 
Cost of products sold   8,851    38,842    -    47,693 
Gross margin   3,515    12,878    -    16,393 
SG&A   3,086    11,645    -    14,731 
Gain on sale of property, plant, and equipment   -    (18)   -    (18)
Operating income   429    1,251    -    1,680 
                     
Total assets  $12,664   $124,881   $23,857   $161,402 
Additions to PP&E  $61   $320   $-   $381 

 

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 

 

 

The following information further disaggregates our sales to customers by major distribution channel and customer type for the twelve weeks ended January 21, 2022, and January 22, 2021, respectively.

 

Twelve weeks Ended January 21, 2022

 

Distribution Channel  Retail (a)   Foodservice (b)   Totals 
Direct store delivery  $36,630   $-   $36,630 
Direct customer warehouse   15,090    -    15,090 
Total Snack Food Products   51,720    -    51,720 
                
Distributors   2,940    9,426    12,366 
Total Frozen Food Products   2,940    9,426    12,366 
                
Totals  $54,660   $9,426   $64,086 

 

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 

 

(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.