Tofutti Brands Q1 sales down 28% to $2.49M; net loss of $0.02 per share vs profit $0.04 year ago

TOFUTTI BRANDS INC

2023-Q1 EPS reported -$0.02 revenue$2,490,000

Net sales $2,490,000, down 28% YoY; vegan cheese fell to $2.1M, frozen desserts to $390k.
Net loss of $102,000 ($0.02 per share) compared to net income of $205,000 ($0.04) in prior year.
Gross profit decreased to $606,000 (24% margin) from $857,000 (25%) due to lower sales.
Cash $418,000, working capital $3,554,000 at April 1, 2023 vs $1,072,000 cash and $3,625,000 working capital at Dec 31, 2022.
CEO says production difficulties from 2022 resolved; expects improved revenues and profitability.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TOFUTTI BRANDS INC reported thirteen weeks ended April 1, 2023 results: revenue $2,490,000, net income $102,000, or $0.02 per share (basic and diluted), EPS $0.02 per share (basic and diluted).

Period: thirteen weeks ended April 1, 2023
Revenue: $2,490,000
Net income: $102,000, or $0.02 per share (basic and diluted)
EPS: $0.02 per share (basic and diluted)
Result: reported results

Exact text from the filing

Tofutti Brands reported net sales for the thirteen weeks ended April 1, 2023 decreased by $973,000, or 28%, to $2,490,000, from net sales of $3,463,000 for the thirteen weeks ended April 2, 2022.

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Source: SEC EDGAR

accession 0001493152-23-017841

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