TOFUTTI ANNOUNCES RESULTS FOR THIRTEEN WEEKS ENDED APRIL 1, 2023
TOFUTTI ANNOUNCES RESULTS FOR THIRTEEN WEEKS ENDED APRIL 1, 2023
Cranford, New Jersey, May 16, 2023 (GLOBE NEWSWIRE) -- TOFUTTI BRANDS INC. (OTCQX Symbol: TOFB) issued its results for the thirteen weeks ended April 1, 2023 today.
新澤西州克蘭福德，2023年5月16日(Global Newswire)--TOFUTTI Brands Inc.(OTCQX代碼：TOFB)今天發佈了截至2023年4月1日的13周業績。
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. Sales of our vegan cheese products decreased to $2,100,000 for the thirteen weeks ended April 1, 2023 from $2,916,000 for the thirteen weeks ended April 2, 2022 due to the timing of cheese promotions this year. Sales of our frozen dessert products decreased to $390,000 in the thirteen weeks ended April 1, 2023 from $547,000 for the thirteen weeks ended April 2, 2022. We anticipate an increase in sales dollars over the balance of the current fiscal year as our promotions and price increases take full effect.
Tofutti Brands報告稱，截至2023年4月1日的13周，淨銷售額下降了973,000美元，降幅為28%，至2,490,000美元，而截至2022年4月2日的13周的淨銷售額為3,463,000美元。由於今年奶酪促銷的時機，截至2023年4月1日的13周，我們素食奶酪產品的銷售額從截至2022年4月2日的13周的2,916,000美元降至2,100,000美元。截至2023年4月1日的13周，我們冷凍甜點產品的銷售額從截至2022年4月2日的13周的547,000美元下降到390,000美元。隨著我們的促銷和漲價完全生效，我們預計銷售額將比本財年的餘額有所增加。
Our gross profit decreased to $606,000 in the period ended April 1, 2023 from $857,000 in the period ended April 2, 2022, reflecting the decrease in sales. Our gross profit percentage was 24% for the period ending April 1, 2023 compared to 25% for the period ending April 2, 2022.
我們的毛利潤從截至2022年4月2日的857,000美元下降到截至2023年4月1日的606,000美元，反映了銷售額的下降。截至2023年4月1日的期間，我們的毛利百分比為24%，而截至2022年4月2日的期間為25%。
We had a net loss of $102,000, or $0.02 per share (basic and diluted), for the thirteen weeks ended April 1, 2023, compared to net income of $205,000, or $0.04 (basic and diluted) per share, for the thirteen weeks ended April 2, 2022.
截至2023年4月1日的13周，我們淨虧損102,000美元，或每股淨虧損0.02美元，而截至2022年4月2日的13周，我們的淨收益為205,000美元，或每股0.04美元(基本和稀釋後)。
As of April 1, 2023, we had approximately $418,000 in cash and our working capital was approximately $3,554,000 compared with approximately $1,072,000 in cash and working capital of $3,625,000 at December 31, 2022. The decrease in cash during the thirteen weeks ended April 2, 2022 was primarily due to a decrease in payables.
截至2023年4月1日，我們的現金約為418,000美元，營運資本約為3,554,000美元，而截至2022年12月31日，我們的現金和營運資本約為1,072,000美元和3,625,000美元。在截至2022年4月2日的13周內，現金減少的主要原因是應付款減少。
Mr. Steven Kass, Chief Executive and Financial Officer of the Company stated, "We are pleased with our strong cash and working capital position at April 1, 2023. We believe that the production difficulties that impacted our revenues in 2022 have been resolved and that we are poised to achieve improved revenues and profitability," concluded Mr. Kass.
公司首席執行官兼財務官Steven Kass先生表示：“我們對2023年4月1日我們強大的現金和營運資本狀況感到滿意。我們相信，影響我們2022年收入的生產困難已經得到解決，我們將實現更高的收入和盈利能力。”
About Tofutti Brands Inc.
關於Tofutti Brands Inc.
Founded in 1981, Tofutti Brands Inc. develops and distributes a complete line of plant-based products. The Company sells more than twenty-five (25) dairy-free foods including cheese products and frozen desserts. Tofutti Brands Inc. is a proven innovator in the food industry and has developed a full line of delicious and healthy dairy-free foods. Available throughout the United States and in more than fifteen (15) countries, Tofutti Brands answers the call of millions of people who are allergic or intolerant to dairy or wish to maintain a kosher or vegan diet. Tofutti's product line includes plant-based ice cream pints, cones, Tofutti Cutie sandwiches and novelty bars. Tofutti also sells a prepared food entrée, Mintz's Blintzes, made with Tofutti's milk-free cheeses such as Better Than Cream Cheese and Sour Supreme. For more information, visit .
Tofutti Brands Inc.成立於1981年，開發和分銷以植物為基礎的全系列產品。該公司銷售超過25種不含乳製品的食品，包括奶酪產品和冷凍甜點。Tofutti Brands Inc.是食品行業公認的創新者，開發了一系列美味和健康的不含乳製品的食品。Tofutti Brands在美國和超過15個國家和地區銷售，回應了數百萬對乳製品過敏或不耐受或希望保持猶太或純素食飲食的人的呼籲。Tofutti的產品線包括植物性冰淇淋品脫、蛋捲、Tofutti Cutie三明治和新奇的酒吧。Tofutti還銷售預製食品Entrée，Mintz‘s Blintze，由Tofutti的無牛奶奶酪製成，如Better Than Cream Cheese和酸澀至上。有關更多資訊，請訪問。
Forward-Looking Statements
前瞻性陳述
Some of the statements in this press release concerning the Company's future prospects are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Actual results may vary significantly based upon a number of factors including, but not limited to business conditions both domestic and international, competition, changes in product mix or distribution channels, resource constraints encountered in promoting and developing new products and other risk factors detailed in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K.
本新聞稿中有關公司未來前景的一些陳述是前瞻性陳述，涉及風險和不確定因素，可能會導致實際結果與前瞻性陳述中的大不相同。根據許多因素，實際結果可能會有很大差異，這些因素包括但不限於國內和國際商業條件、競爭、產品組合或分銷渠道的變化、在推廣和開發新產品方面遇到的資源限制以及公司提交給證券交易委員會的檔案中詳細說明的其他風險因素，包括公司提交給美國證券交易委員會的10-K表格年度報告。
| Company Contact: | Steve Kass |
| Chief Executive/Financial Officer | |
| (908) 272-2400 | |
| (908) 272-9492 (Fax) |
| 公司聯繫人： | 史蒂夫·卡斯 |
| 首席執行官/財務官 | |
| (908)272-2400 | |
| (908)272-9492(傳真) |
TOFUTTI BRANDS, INC.
Unaudited Condensed Statements of Operations
(in thousands, except per share figures)
Tofutti Brands公司
未經審計的經營簡明報表
(在……裡面千，不包括每股數位)
| Thirteen weeks | Thirteen weeks | |||||||
| ended | ended | |||||||
| April 1, 2023 | April 2, 2022 | |||||||
| Net sales | $ | 2,490 | $ | 3,463 | ||||
| Cost of sales | 1,884 | 2,606 | ||||||
| Gross profit | 606 | 857 | ||||||
| Operating expenses: | ||||||||
| Selling and warehouse | 271 | 264 | ||||||
| Marketing | 95 | 156 | ||||||
| Research and development | 28 | 40 | ||||||
| General and administrative | 302 | 337 | ||||||
| Total operating expenses | 696 | 797 | ||||||
| Income from operations | (90 | ) | 60 | |||||
| SBA loan forgiveness | - | 165 | ||||||
| Income before interest expense and income taxes | (90 | ) | 225 | |||||
| Interest expense | 1 | - | ||||||
| (Loss) income before income tax | (91 | ) | 225 | |||||
| Provision for income tax expense | 11 | 20 | ||||||
| Net (loss) income | $ | (102 | ) | $ | 205 | |||
| Weighted average common shares outstanding | ||||||||
| Basic | 5,154 | 5,154 | ||||||
| Diluted | 5,154 | 5,154 | ||||||
| (Loss) earnings per share: | ||||||||
| Basic | $ | (0.02 | ) | $ | 0.04 | |||
| Diluted | $ | (0.02 | ) | $ | 0.04 | |||
| 13周 | 13周 | |||||||
| 告一段落 | 告一段落 | |||||||
| 2023年4月1日 | 2022年4月2日 | |||||||
| 淨銷售額 | $ | 2490 | $ | 3463 | ||||
| 銷售成本 | 1,884 | 2,606 | ||||||
| 毛利 | 606 | 八百五十七 | ||||||
| 運營費用： | ||||||||
| 銷售和倉儲 | 271 | 二百六十四 | ||||||
| 營銷 | 95 | 一百五十六 | ||||||
| 研發 | 28 | 40歲 | ||||||
| 一般和行政 | 三百零二 | 三百三十七 | ||||||
| 總運營費用 | 六百九十六 | 797 | ||||||
| 營業收入 | (90) | ) | 60 | |||||
| SBA貸款豁免 | - | 165 | ||||||
| 扣除利息、費用和所得稅前的收入 | (90) | ) | 225 | |||||
| 利息支出 | 1 | - | ||||||
| 所得稅前收入(虧損) | (91) | ) | 225 | |||||
| 所得稅費用準備 | 11. | 20個 | ||||||
| 淨(虧損)收益 | $ | (102) | ) | $ | 205 | |||
| 加權平均已發行普通股 | ||||||||
| 基本資訊 | 5,154 | 5,154 | ||||||
| 稀釋 | 5,154 | 5,154 | ||||||
| (虧損)每股收益： | ||||||||
| 基本資訊 | $ | (0.02 | ) | $ | 0.04 | |||
| 稀釋 | $ | (0.02 | ) | $ | 0.04 | |||
TOFUTTI BRANDS INC.
Unaudited Condensed Balance Sheets
(in thousands, except share and per share figures)
Tofutti Brands Inc.
未經審計的簡明資產負債表
(在……裡面千，不包括每股和每股數位)
| April 1, 2023 | December 31, 2022 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash | $ | 418 | $ | 1,072 | ||||
| Accounts receivable, net of allowance for doubtful accounts and sales promotions was $495 for both periods respectively | 940 | 1,305 | ||||||
| Inventories | 2,587 | 2,463 | ||||||
| Prepaid expenses and other current assets | 66 | 80 | ||||||
| Total current assets | 4,011 | 4,920 | ||||||
| Operating lease right-of-use assets | 140 | 158 | ||||||
| Financing lease right-of-use assets | 49 | 53 | ||||||
| Deferred tax assets | 357 | 367 | ||||||
| Other assets | 19 | 19 | ||||||
| Total assets | $ | 4,576 | $ | 5,517 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Current liabilities: | ||||||||
| Income taxes payable | $ | 41 | $ | 41 | ||||
| Accounts payable | 65 | 684 | ||||||
| Accrued expenses | 336 | 555 | ||||||
| Financing lease liabilities, current | 15 | 15 | ||||||
| Total current liabilities | 457 | 1,295 | ||||||
| Financing lease liabilities, long-term | 36 | 39 | ||||||
| Operating lease liabilities | 67 | 85 | ||||||
| Total liabilities | 560 | 1,419 | ||||||
| Stockholders' equity: | ||||||||
| Preferred stock - par value $.01 per share; authorized 100,000 shares, none issued and outstanding | - | - | ||||||
| Common stock - par value $.01 per share; authorized 15,000,000 shares, issued and outstanding 5,153,706 shares | 52 | 52 | ||||||
| Additional paid in capital | 283 | 263 | ||||||
| Retained earnings | 3,681 | 3,783 | ||||||
| Total stockholders' equity | 4,016 | 4,098 | ||||||
| Total liabilities and stockholders' equity | $ | 4,576 | $ | 5,517 | ||||
| 2023年4月1日 | 十二月三十一日， 2022年 | |||||||
| 資產 | ||||||||
| 流動資產： | ||||||||
| 現金 | $ | 四百一十八 | $ | 1,072 | ||||
| 這兩個時期的應收賬款，扣除壞賬準備和促銷活動的淨額分別為495美元。 | 九四零 | 1305 | ||||||
| 盤存 | 2587 | 2463 | ||||||
| 預付費用和其他流動資產 | 66 | 80 | ||||||
| 流動資產總額 | 4,011 | 4920 | ||||||
| 經營性租賃使用權資產 | 140 | 158 | ||||||
| 融資租賃使用權資產 | 49 | 53 | ||||||
| 遞延稅項資產 | 三五七 | 三百七十七 | ||||||
| 其他資產 | 19個 | 19個 | ||||||
| 總資產 | $ | 4576 | $ | 5517 | ||||
| 負債與股東權益 | ||||||||
| 流動負債： | ||||||||
| 應付所得稅 | $ | 41 | $ | 41 | ||||
| 應付帳款 | 65 | 684 | ||||||
| 應計費用 | 三百三十六 | 五百五十五 | ||||||
| 融資租賃負債，流動 | 15個 | 15個 | ||||||
| 流動負債總額 | 四百五十七 | 1,295 | ||||||
| 長期融資租賃負債 | 36 | 39 | ||||||
| 經營租賃負債 | 67 | 85 | ||||||
| 總負債 | 560 | 1419 | ||||||
| 股東權益： | ||||||||
| 優先股-每股面值0.01美元；授權100,000股，未發行和已發行 | - | - | ||||||
| 普通股-每股面值0.01美元；授權發行15,000,000股，已發行和已發行5,153,706股 | 52 | 52 | ||||||
| 額外實收資本 | 二百八十三 | 二百六十三 | ||||||
| 留存收益 | 3681 | 3783 | ||||||
| 股東權益總額 | 4,016 | 4098 | ||||||
| 總負債和股東權益 | $ | 4576 | $ | 5517 | ||||
譯文內容由第三人軟體翻譯。