Bob Evans Farms (BOBE) Tops Q2 EPS By 2c; Comments on FY10
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Bob Evans Farms (NASDAQ: BOBE) reports Q2 EPS of $0.50, 2 cents better than the analyst estimate of $0.48. Revenue for the quarter was $424.8 million, which compares to the estimate of $428.59 million.
The Company reaffirmed its estimate for reported fiscal 2010 operating income of approximately $110 million to $115 million. The outlook for fiscal 2010 includes the impact of a 53rd week, which the Company estimates will contribute an incremental $31 million in net sales and $5 million in operating income.
The Company continues to expect substantively lower future capital expenditures for restaurant development in fiscal 2010 at both Bob Evans Restaurants and Mimi's Cafe. Specifically, the Company expects to build no new Bob Evans Restaurants and two Mimi's Cafes in fiscal 2010.
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