secwatch.observer — SEC 8-K summary
======================================

Issuer:     TOFUTTI BRANDS INC (TOFB)
CIK:        0000730349
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0001493152-23-017841
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/730349/000149315223017841/0001493152-23-017841-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/730349/000149315223017841/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-017841

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer