Bob Evans Posts Lower Q4 Profit; Cuts FY15 EPS Outlook

(RTTNews) - Bob Evans Farms, Inc. (BOBE) reported net income for the fourth quarter of $13.0 million or $0.53 per share, compared to $29.8 million or $1.06 per share for the year-ago quarter.

Income from continuing operations for the fourth quarter was $9.8 million or $0.40 per share, compared to $29.6 million or $1.05 per share in the prior year quarter.

Excluding items, adjusted income from continuing operations for the fourth quarter was $11.8 million or $0.48 per share, compared to $19.4 million or $0.69 per share in the fourth quarter of last year.

Net sales for the fourth quarter fell to $326.37 million from $333.91 million a year ago.

Analysts polled by Thomson Reuters currently expect the company to earn $0.41 per share on revenue of $33.31 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts earnings of $0.06-$0.12 per share. At the same time, the company lowered its fiscal year 2015 earnings guidance to a range of $1.90 to $2.20 per share from its prior guidance of $2.80 to $3.00 per share.

Analysts currently expect the company to earn $0.54 per share for the first quarter and $2.56 per share for the fiscal year 2015.