secwatch.observer — SEC 8-K summary
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Issuer:     TOFUTTI BRANDS INC (TOFB)
CIK:        0000730349
Form:       8-K
Filed at:   2023-03-31T23:59:59+00:00
Accession:  0001493152-23-010246
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730349/000149315223010246/0001493152-23-010246-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730349/000149315223010246/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-010246

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