Tofutti Brands Inc - TOFB STOCK NEWS

Tofutti Brands (OTCQX: TOFB) reported a 16% decrease in net sales to $2,283,000 for Q2 2024, compared to $2,719,000 in Q2 2023. For the first half of 2024, sales decreased by 14% to $4,495,000. Despite lower sales, the company's gross profit percentage improved to 29% in Q2 2024 from 25% in Q2 2023. The company reported a reduced net loss of $32,000 for Q2 2024, compared to $318,000 in Q2 2023. Cash position decreased to $489,000 as of June 29, 2024, from $837,000 at the end of 2023. CEO Steven Kass expressed disappointment with revenues but noted improved operating results and strong cash resources.

Tofutti Brands (OTCQX: TOFB) announced its fiscal quarter results for the period ending March 30, 2024. The company reported net sales of $2.212 million, an 11% decrease from $2.49 million in the same period in 2023. Vegan cheese sales dropped to $1.809 million from $2.1 million, attributed to increased competition. However, frozen dessert sales saw a slight rise to $403,000 from $390,000. Gross profit also fell to $470,000 from $606,000, with the gross profit percentage declining to 21% from 24%. This decline is due to higher sales of lower-margin frozen desserts and rising costs for key ingredients and packaging. The company experienced a net loss of $303,000 or $0.06 per share, compared to a $102,000 loss or $0.02 per share in the previous year. Cash on hand decreased to $351,000 from $837,000, and working capital reduced to $3.159 million from $3.44 million at the end of 2023.

TOFUTTI BRANDS INC. (TOFB) reported a decrease in net sales for the fiscal year ended December 30, 2023, with sales of plant-based cheese and frozen dessert products declining due to increased competition. Despite this, the company saw an increase in gross profit and aims for improved revenues in 2024.

TOFUTTI BRANDS INC. (TOFB) reports a decrease in net sales for the thirteen and thirty-nine weeks ended September 30, 2023, with a significant increase in gross profit for the same period. Despite the decrease in sales, the company achieved a net income of $110,000 for the thirteen-week period, marking a return to profitable operations. The company's working capital and cash balances remain strong, positioning them for improved results.

TOFUTTI BRANDS INC. (TOFB) reports a decrease in net sales for the thirteen and twenty-six weeks ended September 30, 2023, with a positive increase in gross profit. The company's net income for the thirteen-week period ended September 30, 2023, shows a significant improvement compared to the same period in 2022. Despite the decline in sales, TOFUTTI remains optimistic about future performance due to strong cash and available capital balances.

Tofutti Brands Inc. reported a decrease in net sales for the thirteen and twenty-six weeks ended July 1, 2023. Sales of vegan cheese products and frozen dessert products both decreased compared to the same periods last year. However, the gross profit increased for the thirteen week period, and the gross profit percentage improved. The company had net losses for both periods but maintains a strong cash balance and believes it is positioned for improved results.