June 5, 2008

Bob Evans earnings up in 4Q

Columbus, Ohio-based sausage processor and restaurateur Bob Evans Farms late Tuesday (June 3, 2008) said its fourth-quarter earnings jumped slightly due to sales increases and effective cost management.

Net income for the three months ended April 25 was US$16 million, or 52 cents per diluted share, up from US$15.3 million, or 42 cents per share, in the year-earlier period.

Revenues also increased, reaching US$436.5 million, up from US$348.9 million last year.

In its food products division, Bob Evans said sales jumped 8.4 percent to US$75.4 million in the fourth quarter, with volumes increasing 5 percent.

However, operating margins were down 10 basis points due to higher expenses

Shares of Bob Evans were US$29.77, up 68 cents, in after-hours trading Tuesday on the Nasdaq.