Bob Evans Farms Craters Post-Market

Shares of Bob Evans Farms

are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 6.74%, trading at $27.53; they closed the regular session lower by 0.87%, at $29.52. Bob Evans Farms said that its Q1 EPS was $0.60 on revenues of $418.7 million. The Street was looking for $0.66 per share on revenues of $423.7 million. Revenues declined by 5.4% year over year. "As expected, both of our restaurant concepts demonstrated sequential quarterly same-store sales improvement throughout the year, including our first positive quarter of same-store sales in two-and-a-half years at Bob Evans Restaurants," Davis said. "We also optimized our portfolio of restaurants by closing several underperforming stores, which we expect will improve our long-term profitability. "Despite a 35.5 percent year-over-year increase in sow costs, we also generated a 170-basis point improvement in the food products segment's adjusted operating margins, from 6.4 percent in fiscal 2010 to 8.1 percent in fiscal 2011, due to better management of sales promotions and cost-reduction initiatives implemented during the year." Bob Evans Farms, Inc. is a full-service restaurant company that operates two restaurant concepts: Bob Evans Restaurants and Mimi's Cafes. The company is also a producer and distributor of pork sausage and homestyle convenience food items.