Tofutti reports net loss of $525K for FY2022 vs net income of $143K in prior year

TOFUTTI BRANDS INC

Net sales $12.83M, up 2% from $12.59M, driven by Q4 price increases.
Gross profit fell to $2.34M (18% margin) from $3.34M (27%) due to higher ingredient and freight costs.
Net loss of $525K ($0.10 per share) compared to net income of $143K ($0.03 per share) in FY2021.
Cash at Dec 31, 2022 was $1.07M, down from $1.70M a year earlier, used to build inventory.
CEO expects improved results in 2023 as price increases take full effect.

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