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.
新泽西州克兰福德，2023年5月16日(Global Newswire)--TOFUTTI Brands Inc.(OTCQX代码：TOFB)今天发布了截至2023年4月1日的13周业绩。
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报告称，截至2023年4月1日的13周，净销售额下降了973,000美元，降幅为28%，至2,490,000美元，而截至2022年4月2日的13周的净销售额为3,463,000美元。由于今年奶酪促销的时机，截至2023年4月1日的13周，我们素食奶酪产品的销售额从截至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，我们冷冻甜点产品的销售额从截至2022年4月2日的13周的547,000美元下降到390,000美元。随着我们的促销和涨价完全生效，我们预计销售额将比本财年的余额有所增加。
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.
我们的毛利润从截至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，反映了销售额的下降。截至2023年4月1日的期间，我们的毛利百分比为24%，而截至2022年4月2日的期间为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，我们净亏损102,000美元，或每股净亏损0.02美元，而截至2022年4月2日的13周，我们的净收益为205,000美元，或每股0.04美元(基本和稀释后)。
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，我们的现金约为418,000美元，营运资本约为3,554,000美元，而截至2022年12月31日，我们的现金和营运资本约为1,072,000美元和3,625,000美元。在截至2022年4月2日的13周内，现金减少的主要原因是应付款减少。
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.
公司首席执行官兼财务官Steven Kass先生表示：“我们对2023年4月1日我们强大的现金和营运资本状况感到满意。我们相信，影响我们2022年收入的生产困难已经得到解决，我们将实现更高的收入和盈利能力。”
About Tofutti Brands Inc.
关于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.成立于1981年，开发和分销以植物为基础的全系列产品。该公司销售超过25种不含乳制品的食品，包括奶酪产品和冷冻甜点。Tofutti Brands Inc.是食品行业公认的创新者，开发了一系列美味和健康的不含乳制品的食品。Tofutti Brands在美国和超过15个国家和地区销售，响应了数百万对乳制品过敏或不耐受或希望保持犹太或纯素食饮食的人的呼吁。Tofutti的产品线包括植物性冰淇淋品脱、蛋卷、Tofutti Cutie三明治和新奇的酒吧。Tofutti还销售预制食品Entrée，Mintz‘s Blintze，由Tofutti的无牛奶奶酪制成，如Better Than Cream Cheese和酸涩至上。有关更多信息，请访问。
Forward-Looking Statements
前瞻性陈述
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.
本新闻稿中有关公司未来前景的一些陈述是前瞻性陈述，涉及风险和不确定因素，可能会导致实际结果与前瞻性陈述中的大不相同。根据许多因素，实际结果可能会有很大差异，这些因素包括但不限于国内和国际商业条件、竞争、产品组合或分销渠道的变化、在推广和开发新产品方面遇到的资源限制以及公司提交给证券交易委员会的文件中详细说明的其他风险因素，包括公司提交给美国证券交易委员会的10-K表格年度报告。
| Company Contact: | Steve Kass |
| Chief Executive/Financial Officer | |
| (908) 272-2400 | |
| (908) 272-9492 (Fax) |
| 公司联系人： | 史蒂夫·卡斯 |
| 首席执行官/财务官 | |
| (908)272-2400 | |
| (908)272-9492(传真) |
TOFUTTI BRANDS, INC.
Unaudited Condensed Statements of Operations
(in thousands, except per share figures)
Tofutti Brands公司
未经审计的经营简明报表
(在……里面千，不包括每股数字)
| 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 | |||||||
| 净销售额 | $ | 2490 | $ | 3463 | ||||
| 销售成本 | 1,884 | 2,606 | ||||||
| 毛利 | 606 | 八百五十七 | ||||||
| 运营费用： | ||||||||
| 销售和仓储 | 271 | 二百六十四 | ||||||
| 营销 | 95 | 一百五十六 | ||||||
| 研发 | 28 | 40岁 | ||||||
| 一般和行政 | 三百零二 | 三百三十七 | ||||||
| 总运营费用 | 六百九十六 | 797 | ||||||
| 营业收入 | (90) | ) | 60 | |||||
| SBA贷款豁免 | - | 165 | ||||||
| 扣除利息、费用和所得税前的收入 | (90) | ) | 225 | |||||
| 利息支出 | 1 | - | ||||||
| 所得税前收入(亏损) | (91) | ) | 225 | |||||
| 所得税费用准备 | 11. | 20个 | ||||||
| 净(亏损)收益 | $ | (102) | ) | $ | 205 | |||
| 加权平均已发行普通股 | ||||||||
| 基本信息 | 5,154 | 5,154 | ||||||
| 稀释 | 5,154 | 5,154 | ||||||
| (亏损)每股收益： | ||||||||
| 基本信息 | $ | (0.02 | ) | $ | 0.04 | |||
| 稀释 | $ | (0.02 | ) | $ | 0.04 | |||
TOFUTTI BRANDS INC.
Unaudited Condensed Balance Sheets
(in thousands, except share and per share figures)
Tofutti Brands Inc.
未经审计的简明资产负债表
(在……里面千，不包括每股和每股数字)
| 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 | |||||||
| 资产 | ||||||||
| 流动资产： | ||||||||
| 现金 | $ | 四百一十八 | $ | 1,072 | ||||
| 这两个时期的应收账款，扣除坏账准备和促销活动的净额分别为495美元。 | 九四零 | 1305 | ||||||
| 盘存 | 2587 | 2463 | ||||||
| 预付费用和其他流动资产 | 66 | 80 | ||||||
| 流动资产总额 | 4,011 | 4920 | ||||||
| 经营性租赁使用权资产 | 140 | 158 | ||||||
| 融资租赁使用权资产 | 49 | 53 | ||||||
| 递延税项资产 | 三五七 | 三百七十七 | ||||||
| 其他资产 | 19个 | 19个 | ||||||
| 总资产 | $ | 4576 | $ | 5517 | ||||
| 负债与股东权益 | ||||||||
| 流动负债： | ||||||||
| 应付所得税 | $ | 41 | $ | 41 | ||||
| 应付帐款 | 65 | 684 | ||||||
| 应计费用 | 三百三十六 | 五百五十五 | ||||||
| 融资租赁负债，流动 | 15个 | 15个 | ||||||
| 流动负债总额 | 四百五十七 | 1,295 | ||||||
| 长期融资租赁负债 | 36 | 39 | ||||||
| 经营租赁负债 | 67 | 85 | ||||||
| 总负债 | 560 | 1419 | ||||||
| 股东权益： | ||||||||
| 优先股-每股面值0.01美元；授权100,000股，未发行和已发行 | - | - | ||||||
| 普通股-每股面值0.01美元；授权发行15,000,000股，已发行和已发行5,153,706股 | 52 | 52 | ||||||
| 额外实收资本 | 二百八十三 | 二百六十三 | ||||||
| 留存收益 | 3681 | 3783 | ||||||
| 股东权益总额 | 4,016 | 4098 | ||||||
| 总负债和股东权益 | $ | 4576 | $ | 5517 | ||||