TOFUTTI BRANDS INC - TOFB STOCK NEWS

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.

Tofutti Brands Inc. (OTCQX: TOFB) reported net sales of $12,827,000 for the fiscal year ending December 31, 2022, reflecting a 2% increase from the previous year. Sales in frozen desserts and foods rose slightly to $1,876,000, while vegan cheese product sales increased to $10,951,000. However, gross profit dropped to $2,342,000, down $1,000,000 from the prior year, resulting in a gross profit margin of 18% compared to 27% previously. The company faced significant cost increases primarily due to supply chain issues and high petroleum prices, leading to a net loss of $525,000, or $0.10 per share. Tofutti anticipates improved results in 2023 as price increases take effect.