TOFUTTI ANNOUNCES RESULTS FOR QUARTER ENDED MARCH 29, 2025

Core Insights - Tofutti Brands Inc. reported a significant decline in net sales for the fiscal quarter ended March 29, 2025, with a decrease of $621,000, or 28%, compared to the same period in the previous year [2] - Despite the drop in sales, the company experienced an increase in gross profit due to price increases implemented at the end of 2024, resulting in a gross profit percentage of 37% [3] - The company recorded a reduced operating loss of $161,000 for the quarter, an improvement from the $302,000 loss in the same quarter of the previous year [4] Financial Performance - Net sales decreased to $1,591,000 for the thirteen weeks ended March 29, 2025, down from $2,212,000 for the same period in 2024 [2] - Sales of vegan cheese products specifically fell to $1,373,000 from $1,809,000 year-over-year, attributed to increased competition and uncertainty from proposed tariffs [2] - Gross profit increased to $589,000 from $470,000, with a gross profit margin rising from 21% to 37% [3] - Total operating expenses decreased to $750,000 from $772,000, contributing to the reduced operating loss [4] Cash and Working Capital - As of March 29, 2025, the company had approximately $609,000 in cash, an increase from $462,000 at the end of December 2024 [5] - Working capital was approximately $2,738,000, down from $2,893,000 at the end of December 2024 [5] Balance Sheet Overview - Total assets as of March 29, 2025, were $3,755,000, a slight decrease from $3,823,000 at the end of December 2024 [8] - Current liabilities increased to $656,000 from $548,000, while total liabilities rose to $931,000 from $837,000 [8] - Stockholders' equity decreased to $2,824,000 from $2,986,000 [8]