[Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) This section presents the company's financial performance and position for the twelve weeks ended January 25, 2019 [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited condensed consolidated financial statements for the twelve weeks ended January 25, 2019, and January 26, 2018, covering balance sheets, operations, equity, cash flows, and notes [Condensed Consolidated Balance Sheets](index=4&type=section&id=a.%20Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$107.7 million** from **$101.5 million**, primarily due to property, plant, and equipment, with corresponding increases in liabilities and equity Condensed Consolidated Balance Sheets (in thousands) | | January 25, 2019 (unaudited) | November 2, 2018 | | :--- | :--- | :--- | | **ASSETS** | | | | Total current assets | $53,184 | $53,216 | | Property, plant and equipment, net | $38,869 | $32,638 | | Other non-current assets | $11,620 | $11,630 | | Deferred income taxes | $4,010 | $4,010 | | **Total assets** | **$107,683** | **$101,494** | | **LIABILITIES AND SHAREHOLDERS' EQUITY** | | | | Total current liabilities | $18,408 | $18,367 | | Long-term notes payable - equipment | $6,556 | $- | | Non-current liabilities | $21,719 | $17,447 | | **Total liabilities** | **$40,127** | **$35,814** | | **Total shareholders' equity** | **$67,556** | **$65,680** | | **Total liabilities and shareholders' equity** | **$107,683** | **$101,494** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=b.%20Condensed%20Consolidated%20Statements%20of%20Operations) Net sales increased to **$45.0 million**, resulting in a net income of **$1.9 million** or **$0.21 per share**, a turnaround from a prior-year loss Condensed Consolidated Statements of Operations (in thousands, except per share amounts) | | 12 weeks ended Jan 25, 2019 | 12 weeks ended Jan 26, 2018 | | :--- | :--- | :--- | | Net sales | $45,041 | $41,192 | | Gross margin | $15,654 | $13,959 | | Income before taxes | $2,567 | $2,095 | | Provision for income taxes | $691 | $3,722 | | **Net income (loss)** | **$1,876** | **$(1,627)** | | **Basic earnings (loss) per share** | **$0.21** | **$(0.18)** | [Condensed Consolidated Statements of Shareholders' Equity](index=6&type=section&id=c.%20Condensed%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shareholders' equity increased to **$67.6 million** from **$65.7 million**, solely due to the **$1.876 million** net income for the quarter - Shareholders' equity increased by **$1.876 million** during the 12 weeks ended January 25, 2019, driven entirely by net income[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=d.%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities was **$0.7 million**, with **$7.2 million** used in investing and **$7.5 million** provided by financing, leading to a **$1.0 million** net cash increase Condensed Consolidated Statements of Cash Flows (in thousands) | | 12 weeks ended Jan 25, 2019 | 12 weeks ended Jan 26, 2018 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $713 | $(1,240) | | Net cash used in investing activities | $(7,191) | $(3,613) | | Net cash provided by (used in) financing activities | $7,500 | $(35) | | **Net increase (decrease) in cash** | **$1,022** | **$(4,888)** | | Cash and cash equivalents at end of period | $9,201 | $7,221 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=e.%20Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Details significant accounting policies, including ASC 606 adoption, customer concentration, segment performance, a new **$7.5 million** equipment loan, and tax rate impacts Customer Concentration (as of Jan 25, 2019) | Customer | % of Sales | % of Accounts Receivable | | :--- | :--- | :--- | | Wal-Mart | 35.6% | 33.4% | | Dollar General | 9.7% | 23.6% | Segment Performance (12 weeks ended Jan 25, 2019, in thousands) | Segment | Sales | Income before taxes | | :--- | :--- | :--- | | Frozen Food Products | $11,872 | $110 | | Snack Food Products | $33,169 | $2,457 | | **Total** | **$45,041** | **$2,567** | - On December 26, 2018, the company entered into a loan agreement with Wells Fargo for **$7.5 million** to purchase equipment for its new Chicago facility, with a seven-year term at a fixed rate of **4.13%**[53](index=53&type=chunk) - The company adopted the new revenue recognition standard (ASC 606) in the first quarter of fiscal 2019 using the modified retrospective method, which did not have a material impact on the financial statements[101](index=101&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a strong start to fiscal 2019, with **9.3%** net sales growth to **$45.0 million**, improved gross margin, and **$1.9 million** net income, supported by positive operating cash flow and a new **$7.5 million** equipment loan Consolidated Net Sales Change Analysis (Q1'19 vs Q1'18) | Factor | % Change | $ Change (in thousands) | | :--- | :--- | :--- | | Selling price per pound | 1.6% | $702 | | Unit sales volume in pounds | 8.6% | $3,787 | | Returns activity | -0.9% | $(452) | | **Total Increase in net sales** | **9.3%** | **$3,849** | - Snack Food Products segment sales increased **8.4%** to **$33.2 million**, driven by new product offerings like smokehouse sausage sticks, while Frozen Food Products segment sales grew **12.1%** to **$11.9 million**, primarily from increased volume in the shelf-stable sandwich business[74](index=74&type=chunk)[76](index=76&type=chunk) - Consolidated SG&A expenses increased by **10.2%** (**$1.2 million**), mainly due to higher profit-sharing accruals, increased product advertising, and a substantial decrease in the cash surrender value of life insurance policies[81](index=81&type=chunk)[82](index=82&type=chunk) - The company's cash conversion cycle improved to **57 days** from **67 days** in the prior-year period, indicating better working capital management[91](index=91&type=chunk) - Capital expenditures totaled **$7.2 million**, a significant increase from **$3.6 million** in the prior year, with the majority (**$7.0 million**) allocated to projects in process, primarily for the new Chicago facility[93](index=93&type=chunk)[94](index=94&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable as the company qualifies as a smaller reporting company - The company is a smaller reporting company and is therefore not required to provide disclosures under this item[113](index=113&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes in internal controls over financial reporting during the quarter - The principal executive officer and principal financial officer concluded that the company's disclosure controls and procedures are effective[114](index=114&type=chunk) - There were no changes in internal controls over financial reporting during the fiscal quarter that materially affected, or are reasonably likely to materially affect, these controls[119](index=119&type=chunk) [Part II. Other Information](index=24&type=section&id=Part%20II.%20Other%20Information) Presents other information not covered in the financial statements, including risk factors, equity sales, and exhibits [Risk Factors](index=24&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the previous disclosure in the Annual Report on Form 10-K - There have been no material changes to the risk factors as previously disclosed in the Annual Report[120](index=120&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=26&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not sell or repurchase any equity securities during the reporting period - The company has not sold or repurchased any equity securities during the period covered by this Report[122](index=122&type=chunk) [Exhibits](index=26&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with Form 10-Q, including CEO and CFO certifications and XBRL data files - Filed exhibits include CEO and CFO certifications under Sarbanes-Oxley Sections 302 and 906, and various XBRL documents[123](index=123&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 2, 2018 Commission file number: 000-02396 BRIDGFORD FOODS CORPORATION (Exact name of Registrant as specified in its charter) California 95-1778176 (State of (I.R.S. Employer incorporation) Identification No.) 1308 North Patt Street Anaheim, California 92801 (Address of principal executive offices) (714) 526-5 ...