Tofutti Brands fiscal 2021 revenue $12.59M (-9%); net income $143K vs $596K

TOFUTTI BRANDS INC

Net sales $12.59M, down 9% from $13.82M; net income $143K ($0.03/share) vs $596K ($0.12).
Vegan cheese sales $10.76M (down 8%); frozen dessert sales $1.83M (down 15%); discontinuations and COVID-19 cited.
Gross profit $3.34M (27% margin) down from $4.25M (31%); higher ingredient/packaging costs.
Cash $1.70M, working capital $4.33M; operating cash flow $689K; repaid $500K convertible note.
CEO says production difficulties resolved; poised for improved revenues in coming years.

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