This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bob Evans Reports Fiscal 2015 First-Quarter Results

Stocks in this article: BOBE

  • Q1 2015 net sales total $326.3 million, a decline of $3.1 million, or 0.9 percent, compared to prior year first-quarter results. GAAP net loss of $0.04 per diluted share compared to net income of $0.30 per diluted share in the prior year period. Adjusted net income of $0.10 per diluted share compared to $0.54 per diluted share in the prior year period
  • Q1 2015 same-store dinner sales in the Cincinnati Broasted Chicken® test market increased 3.6 percent as the platform reversed dinner sales trends. Broasted Chicken® platform now rolling out in the Dayton and Columbus, Ohio, markets
  • Bob Evans Express expects to open three new locations during Q2 2015; up to ten new locations expected for fiscal 2015
  • BEF Foods' operating income negatively impacted $6.7 million due primarily to a 39 percent increase in Q1 2015 sow costs relative to the prior year period. New refrigerated side dish product authorizations at the Company's largest customer along with new customer accounts expected to more than offset lost sales volume experienced in 2014 resulting from a supplier dispute
  • Company's $100 million share repurchase authorization increased to $150 million; extended through fiscal year 2016. Quarterly dividend of $0.31 per share payable on September 22, 2014, to stockholders of record at the close of business on September 8, 2014
  • Company reaffirms fiscal 2015 diluted EPS guidance range of $1.90 to $2.20

NEW ALBANY, Ohio, Aug. 26, 2014 (GLOBE NEWSWIRE) -- Bob Evans Farms, Inc. (Nasdaq:BOBE) today announced its financial results for the fiscal 2015 first quarter ended Friday, July 25, 2014. On a GAAP basis, the Company reported a net loss of $1.0 million, or $0.04 per diluted share, compared with net income of $8.4 million, or $0.30 per diluted share, in the comparable period last year. On an adjusted basis (1), net income was $2.3 million, or $0.10 per diluted share, compared with net income of $15.2 million, or $0.54 per diluted share, in the comparable period last year.

First-quarter fiscal 2015 commentary

Chairman and Chief Executive Officer Steve Davis said, "Several years ago our Board and management team determined that comprehensive strategic investments in our businesses were necessary to meet the changing expectations of consumers. These investments required new processes, new skill sets, and difficult decisions along the way.  During the transformation process, the Company not only invested more than $800 million transforming its businesses, it also returned over $800 million to stockholders from fiscal year 2007 to fiscal year 2014 through share repurchases and dividends.

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs