Bob Evans Q1 Profit Declines; Backs FY14 Adj. EPS Outlook - Quick Facts

(RTTNews) - Restaurants operator Bob Evans Farms Inc. (BOBE) Monday reported first-quarter net income of $9.2 million or $0.33 per share, compared with $15.0 million or $0.53 per share in the comparable quarter last year.

Excluding items, adjusted earnings for the quarter were $16.0 million, down from $16.4 million in the prior year period. Adjusted earnings per share for the latest first quarter were $0.58, same as last year. On average, analysts polled by Thomson Reuters expected earnings of $0.57 per share. Analysts' estimates typically exclude special items.

Meanwhile, revenues for the quarter rose to $329.45 million from $323.44 million a year ago, while three analysts analysts expected revenues of $333.49 million for the quarter.

For fiscal 2014, the company continues to expect non-GAAP earnings per share of $2.60 to $2.67.

Analysts expect the company to report earnings of $2.65 per share for fiscal 2014.