Bob Evans Down on the Nasdaq

Shares fall after a second-quarter earnings miss.
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Bob Evans (BOBE) sank 7% late Monday after the foodservice and restaurant company missed fiscal second-quarter targets.

The Columbus, Ohio, chain made $13.5 million, or 37 cents a share, for the quarter ended Oct. 27, compared with the year-ago $13.2 million, or 37 cents a share. Sales rose to $413 million from $392 million a year earlier.

Analysts surveyed by Thomson Financial were looking for a 39-cent profit on sales of $416 million.

"While we are pleased with the strong ongoing sales momentum in food products," said CEO Steve Davis, "we are taking a closer look at opportunities to improve the segment's profitability, ranging from short-term tactics such as reducing sales incentives to longer-term investments to enhance productivity in our plants."

Shares fell $2.49 to $31.84.