Bob Evans Q2 Profit Misses Estimates; Stock Falls

Bob Evans Farms

released its fiscal second-quarter earnings results on Tuesday after the closing bell. The company reported net income of $12.7 million or $0.42 per share, compared to $7.8 million or $0.26 per share, in the year ago period. On an adjusted basis, which is comparable to analysts' consensus estimates, the company reported net income of $14.1 million or $0.47 per share, versus $17.1 million or $0.56 per share, in last year's corresponding quarter. This came in below analysts' consensus EPS estimates of $0.53. Net sales for the quarter fell to $407.2 million from $417 million in last year's second quarter. This also missed Wall Street analysts' consensus estimates of $411.5 million. Looking ahead, Bob Evans (

) reaffirmed its fiscal year 2012 earnings outlook in a range of $2.36 to $2.44 per share. Analysts' are currently estimating that the company will report EPS of $2.39 for 2012. Bob Evans also reaffirmed its sales guidance for 2012 of $1.7 billion. This compares to current analysts' consensus of $1.67 billion. In the after hours trading session, BOBE shares have lost 2.37% to $33.70 in the wake of these results.