We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bob Evans Farms, Inc. (delisted) | NASDAQ:BOBE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 77.01 | 0.01 | 199,999.99 | 0 | 01:00:00 |
|
FORM 10-Q
|
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Bob Evans Farms, Inc.
(Exact name of registrant as specified in its charter)
|
Delaware
|
|
31-4421866
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
þ
|
|
Accelerated filer
¨
|
|
Non-accelerated filer
¨
|
|
Smaller reporting company
¨
|
(Do not check if a smaller reporting company)
|
|
|
|
|
Unaudited
January 27, 2017 |
|
April 29, 2016
|
||||
Assets
|
|||||||
Current Assets
|
|
|
|
||||
Cash and equivalents
|
$
|
2,430
|
|
|
$
|
11,609
|
|
Accounts receivable, net
|
29,258
|
|
|
24,613
|
|
||
Inventories
|
19,455
|
|
|
17,093
|
|
||
Federal and state income taxes receivable
|
9,338
|
|
|
—
|
|
||
Prepaid expenses and other current assets
|
3,967
|
|
|
5,716
|
|
||
Current assets held for sale
|
499,943
|
|
|
48,707
|
|
||
Total Current Assets
|
564,391
|
|
|
107,738
|
|
||
Property, plant and equipment
|
236,855
|
|
|
219,103
|
|
||
Less accumulated depreciation
|
103,505
|
|
|
89,851
|
|
||
Net Property, Plant and Equipment
|
133,350
|
|
|
129,252
|
|
||
Other Assets
|
|
|
|
||||
Deposits and other
|
2,518
|
|
|
3,841
|
|
||
Notes receivable, net
|
—
|
|
|
20,886
|
|
||
Rabbi trust assets
|
21,540
|
|
|
20,662
|
|
||
Goodwill and other intangible assets
|
19,712
|
|
|
19,829
|
|
||
Non-current deferred tax assets
|
24,878
|
|
|
29,002
|
|
||
Non-current assets held for sale
|
—
|
|
|
469,164
|
|
||
Total Other Assets
|
68,648
|
|
|
563,384
|
|
||
Total Assets
|
$
|
766,389
|
|
|
$
|
800,374
|
|
Liabilities and Stockholders’ Equity
|
|||||||
Current Liabilities
|
|
|
|
||||
Current portion of long-term debt
|
$
|
3,425
|
|
|
$
|
3,419
|
|
Accounts payable
|
14,941
|
|
|
15,841
|
|
||
Accrued property, plant and equipment purchases
|
1,743
|
|
|
4,024
|
|
||
Accrued non-income taxes
|
11,040
|
|
|
14,474
|
|
||
Accrued wages and related liabilities
|
12,830
|
|
|
16,370
|
|
||
Self-insurance reserves
|
9,263
|
|
|
11,288
|
|
||
Current taxes payable
|
—
|
|
|
9,473
|
|
||
Current reserve for uncertain tax provision
|
1,481
|
|
|
1,481
|
|
||
Other accrued expenses
|
15,566
|
|
|
13,280
|
|
||
Current liabilities held for sale
|
128,764
|
|
|
75,907
|
|
||
Total Current Liabilities
|
199,053
|
|
|
165,557
|
|
||
Long-Term Liabilities
|
|
|
|
||||
Deferred compensation
|
18,147
|
|
|
17,761
|
|
||
Reserve for uncertain tax positions
|
2,392
|
|
|
2,752
|
|
||
Other non-current liabilities
|
921
|
|
|
377
|
|
||
Long-term deferred gain
|
2,252
|
|
|
2,432
|
|
||
Credit facility borrowings and other long-term debt
|
326,626
|
|
|
335,638
|
|
||
Non-current liabilities held for sale
|
—
|
|
|
59,413
|
|
||
Total Long-Term Liabilities
|
350,338
|
|
|
418,373
|
|
||
Stockholders’ Equity
|
|
|
|
||||
Common stock, $.01 par value; authorized 100,000 shares; issued 42,638 shares at January 27, 2017, and April 29, 2016
|
426
|
|
|
426
|
|
||
Capital in excess of par value
|
248,144
|
|
|
244,304
|
|
||
Retained earnings
|
829,356
|
|
|
832,323
|
|
||
Treasury stock, 22,869 shares at January 27, 2017, and 22,881 shares at April 29, 2016, at cost
|
(860,928
|
)
|
|
(860,609
|
)
|
||
Total Stockholders’ Equity
|
216,998
|
|
|
216,444
|
|
||
Total Liabilities and Stockholders' Equity
|
$
|
766,389
|
|
|
$
|
800,374
|
|
|
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
January 27, 2017
|
|
January 22, 2016
|
|
January 27, 2017
|
|
January 22, 2016
|
||||||||
Net Sales
|
$
|
112,820
|
|
|
$
|
107,897
|
|
|
$
|
294,919
|
|
|
$
|
285,221
|
|
Cost of sales
|
48,933
|
|
|
52,326
|
|
|
127,171
|
|
|
128,164
|
|
||||
Operating wage and fringe benefit expenses
|
11,150
|
|
|
10,822
|
|
|
31,132
|
|
|
31,198
|
|
||||
Other operating expenses
|
15,826
|
|
|
12,846
|
|
|
44,372
|
|
|
37,640
|
|
||||
Selling, general and administrative expenses
|
14,201
|
|
|
15,453
|
|
|
39,179
|
|
|
49,512
|
|
||||
Depreciation and amortization expense
|
6,333
|
|
|
5,026
|
|
|
17,191
|
|
|
15,966
|
|
||||
Impairments
|
(744
|
)
|
|
—
|
|
|
15,256
|
|
|
—
|
|
||||
Operating Income
|
17,121
|
|
|
11,424
|
|
|
20,618
|
|
|
22,741
|
|
||||
Net interest expense
|
2,139
|
|
|
2,367
|
|
|
4,961
|
|
|
7,856
|
|
||||
Income from Continuing Operations Before Income Taxes
|
14,982
|
|
|
9,057
|
|
|
15,657
|
|
|
14,885
|
|
||||
Provision for income taxes
|
5,144
|
|
|
2,641
|
|
|
5,377
|
|
|
4,608
|
|
||||
Income from Continuing Operations
|
9,838
|
|
|
6,416
|
|
|
10,280
|
|
|
10,277
|
|
||||
(Loss) Income from Discontinued Operations, net of Income Taxes
|
(1,617
|
)
|
|
6,515
|
|
|
7,323
|
|
|
13,365
|
|
||||
Net Income
|
$
|
8,221
|
|
|
$
|
12,931
|
|
|
$
|
17,603
|
|
|
$
|
23,642
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings Per Share — Income from Continuing Operations
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.50
|
|
|
$
|
0.31
|
|
|
$
|
0.52
|
|
|
$
|
0.47
|
|
Diluted
|
$
|
0.49
|
|
|
$
|
0.31
|
|
|
$
|
0.51
|
|
|
$
|
0.47
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings Per Share — (Loss) Income from Discontinued Operations
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
(0.09
|
)
|
|
$
|
0.31
|
|
|
$
|
0.37
|
|
|
$
|
0.61
|
|
Diluted
|
$
|
(0.08
|
)
|
|
$
|
0.31
|
|
|
$
|
0.37
|
|
|
$
|
0.61
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings Per Share — Net Income
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.41
|
|
|
$
|
0.62
|
|
|
$
|
0.89
|
|
|
$
|
1.08
|
|
Diluted
|
$
|
0.41
|
|
|
$
|
0.62
|
|
|
$
|
0.88
|
|
|
$
|
1.08
|
|
|
|
|
|
|
|
|
|
||||||||
Cash Dividends Paid Per Share
|
$
|
0.34
|
|
|
$
|
0.34
|
|
|
$
|
1.02
|
|
|
$
|
0.96
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted Average Shares Outstanding
|
|
|
|
|
|
|
|
||||||||
Basic
|
19,847
|
|
|
20,692
|
|
|
19,836
|
|
|
21,845
|
|
||||
Dilutive shares
|
221
|
|
|
111
|
|
|
219
|
|
|
144
|
|
||||
Diluted
|
20,068
|
|
|
20,803
|
|
|
20,055
|
|
|
21,989
|
|
|
Nine Months Ended
|
||||||
|
January 27, 2017
|
|
January 22, 2016
|
||||
Operating activities:
|
|
|
|
||||
Net income
|
$
|
17,603
|
|
|
$
|
23,642
|
|
Income from discontinued operations
|
7,323
|
|
|
13,365
|
|
||
Income from continuing operations
|
10,280
|
|
|
10,277
|
|
||
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
17,191
|
|
|
15,966
|
|
||
Impairments
|
15,256
|
|
|
—
|
|
||
Loss on disposal of fixed assets
|
34
|
|
|
3,439
|
|
||
(Gain) Loss on rabbi trust assets
|
(878
|
)
|
|
1,768
|
|
||
Loss (Gain) on deferred compensation
|
1,433
|
|
|
(1,146
|
)
|
||
Share-based compensation
|
3,151
|
|
|
2,235
|
|
||
Accretion on long-term note receivable
|
(1,133
|
)
|
|
(1,539
|
)
|
||
Deferred income taxes
|
4,124
|
|
|
(136
|
)
|
||
Amortization of deferred financing costs
|
1,033
|
|
|
1,762
|
|
||
Cash provided by (used for) assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(4,645
|
)
|
|
(3,405
|
)
|
||
Inventories
|
(2,362
|
)
|
|
2,532
|
|
||
Prepaid expenses and other current assets
|
1,749
|
|
|
1,162
|
|
||
Accounts payable
|
(900
|
)
|
|
(970
|
)
|
||
Federal and state income taxes
|
(19,171
|
)
|
|
19,119
|
|
||
Accrued wages and related liabilities
|
(3,540
|
)
|
|
2,956
|
|
||
Self-insurance
|
(2,025
|
)
|
|
2,312
|
|
||
Accrued non-income taxes
|
(3,434
|
)
|
|
2,005
|
|
||
Other assets and liabilities
|
8,330
|
|
|
4,395
|
|
||
Net cash provided by operating activities
|
24,493
|
|
|
62,732
|
|
||
Investing activities:
|
|
|
|
||||
Purchase of property, plant and equipment
|
(23,669
|
)
|
|
(23,989
|
)
|
||
Proceeds from sale of property, plant and equipment
|
95
|
|
|
50,539
|
|
||
Liquidation of rabbi trust assets
|
—
|
|
|
5,245
|
|
||
Deposits and other
|
371
|
|
|
(566
|
)
|
||
Net cash (used in) provided by investing activities
|
(23,203
|
)
|
|
31,229
|
|
||
Financing activities:
|
|
|
|
||||
Cash dividends paid
|
(20,182
|
)
|
|
(21,132
|
)
|
||
Gross proceeds from credit facility borrowings and other long-term debt
|
277,894
|
|
|
506,626
|
|
||
Gross repayments of credit facility borrowings and other long-term debt
|
(286,964
|
)
|
|
(461,668
|
)
|
||
Payments of debt issuance costs
|
—
|
|
|
(2,517
|
)
|
||
Purchase of treasury stock
|
—
|
|
|
(156,654
|
)
|
||
Proceeds from share-based compensation
|
—
|
|
|
214
|
|
||
Cash paid for taxes on share-based compensation
|
(702
|
)
|
|
(1,177
|
)
|
||
Excess tax benefits from share-based compensation
|
(1,688
|
)
|
|
84
|
|
||
Net cash used in financing activities
|
(31,642
|
)
|
|
(136,224
|
)
|
||
Net cash used in operations
|
(30,352
|
)
|
|
(42,263
|
)
|
||
Net cash provided by operating activities of discontinued operations
|
36,565
|
|
|
54,781
|
|
||
Net cash used in investing activities of discontinued operations
|
(15,392
|
)
|
|
(11,165
|
)
|
||
Net cash provided by discontinued operations
|
21,173
|
|
|
43,616
|
|
||
Cash and equivalents at the beginning of the period
|
11,609
|
|
|
4,994
|
|
||
Cash and equivalents at the end of the period
|
$
|
2,430
|
|
|
$
|
6,347
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
|
January 27, 2017
|
|
January 22, 2016
|
||||
Basic
|
19,847
|
|
|
20,692
|
|
|
19,836
|
|
|
21,845
|
|
Dilutive shares
|
221
|
|
|
111
|
|
|
219
|
|
|
144
|
|
Diluted
|
20,068
|
|
|
20,803
|
|
|
20,055
|
|
|
21,989
|
|
|
Nine Months Ended
|
||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||
Cash dividends paid to common stockholders
|
$
|
20,182
|
|
|
$
|
21,132
|
|
Dividend equivalent rights
|
387
|
|
|
307
|
|
||
Total dividends
|
$
|
20,569
|
|
|
$
|
21,439
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
|
January 27, 2017
|
|
January 22, 2016
|
||||||||
Net Sales
|
$
|
223,126
|
|
|
$
|
238,608
|
|
|
$
|
663,307
|
|
|
$
|
708,018
|
|
Costs and expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of sales
|
59,349
|
|
|
66,255
|
|
|
170,592
|
|
|
189,447
|
|
||||
Operating wage and fringe benefit expenses
|
92,118
|
|
|
95,785
|
|
|
272,984
|
|
|
284,696
|
|
||||
Operating expenses
|
43,804
|
|
|
40,746
|
|
|
129,357
|
|
|
123,766
|
|
||||
Selling, general and administrative expenses
|
19,615
|
|
|
13,551
|
|
|
45,582
|
|
|
49,854
|
|
||||
Depreciation and amortization expense
|
12,405
|
|
|
14,831
|
|
|
36,766
|
|
|
44,150
|
|
||||
Impairments
|
—
|
|
|
804
|
|
|
522
|
|
|
1,089
|
|
||||
Operating (Loss) Income from discontinued operations
|
$
|
(4,165
|
)
|
|
$
|
6,636
|
|
|
$
|
7,504
|
|
|
$
|
15,016
|
|
Net interest expense
|
402
|
|
|
—
|
|
|
1,214
|
|
|
—
|
|
||||
(Loss) Income from discontinued operations before income taxes
|
(4,567
|
)
|
|
6,636
|
|
|
6,290
|
|
|
15,016
|
|
||||
(Benefit) Provision for income taxes
|
(2,950
|
)
|
|
121
|
|
|
(1,033
|
)
|
|
1,651
|
|
||||
(Loss) Income from discontinued operations
|
$
|
(1,617
|
)
|
|
$
|
6,515
|
|
|
$
|
7,323
|
|
|
$
|
13,365
|
|
(in thousands)
|
January 27, 2017
|
|
April 29, 2016
|
||||
Carrying amounts of major classes of assets classified as held for sale in the Consolidated Balance Sheets
|
|
|
|
||||
Cash
|
$
|
1,272
|
|
|
$
|
1,287
|
|
Accounts receivable, net
|
5,350
|
|
|
4,280
|
|
||
Inventories
|
8,055
|
|
|
7,905
|
|
||
Prepaid and other current assets
|
5,032
|
|
|
3,591
|
|
||
Net plant, property & equipment from discontinued operations
|
476,051
|
|
|
468,383
|
|
||
Net plant, property & equipment from continuing operations
(1)
|
3,334
|
|
|
31,644
|
|
||
Other assets
|
849
|
|
|
781
|
|
||
Total assets classified as held for sale
(1)
|
$
|
499,943
|
|
|
$
|
517,871
|
|
|
|
|
|
||||
Carrying amounts of major classes of liabilities classified as held for sale in the Consolidated Balance Sheets
|
January 27, 2017
|
|
April 29, 2016
|
||||
Accounts payable
|
$
|
18,242
|
|
|
$
|
21,676
|
|
Accrued property, plant and equipment purchases
|
2,149
|
|
|
1,284
|
|
||
Accrued non-income taxes
|
699
|
|
|
1,222
|
|
||
Accrued wages and related liabilities
|
9,664
|
|
|
9,988
|
|
||
Self-insurance reserves
|
9,116
|
|
|
8,881
|
|
||
Deferred gift card revenue
|
17,934
|
|
|
14,147
|
|
||
Other accrued expenses
|
13,503
|
|
|
18,709
|
|
||
Other non-current liabilities
|
5,673
|
|
|
5,474
|
|
||
Long-term deferred gain
|
51,784
|
|
|
53,939
|
|
||
Total liabilities classified as held for sale
(1)
|
$
|
128,764
|
|
|
$
|
135,320
|
|
(in thousands)
|
January 27, 2017
|
|
April 29, 2016
|
||||
Credit Agreement borrowings
(1)
|
$
|
300,479
|
|
|
$
|
307,000
|
|
Mortgage Loan
(1)
|
26,777
|
|
|
28,963
|
|
||
R&D Loan
(1)
|
1,906
|
|
|
2,219
|
|
||
Interest-free loan
(1)
|
889
|
|
|
875
|
|
||
Total borrowings
|
330,051
|
|
|
339,057
|
|
||
Less current portion
|
(3,425
|
)
|
|
(3,419
|
)
|
||
Long-term debt
|
$
|
326,626
|
|
|
$
|
335,638
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
|
January 27, 2017
|
|
January 22, 2016
|
||||||||
Interest Expense:
|
|
|
|
|
|
|
|
||||||||
Variable-rate debt
(1)
|
$
|
1,918
|
|
|
$
|
2,618
|
|
|
$
|
5,724
|
|
|
$
|
8,027
|
|
Fixed-rate debt
(2)
|
302
|
|
|
444
|
|
|
1,002
|
|
|
1,819
|
|
||||
Capitalized interest
|
(81
|
)
|
|
(50
|
)
|
|
(396
|
)
|
|
(100
|
)
|
||||
Total Interest Expense on outstanding borrowings
|
2,139
|
|
|
3,012
|
|
|
6,330
|
|
|
9,746
|
|
||||
Interest income:
|
|
|
|
|
|
|
|
||||||||
Accretion on note receivable
(3)
|
—
|
|
|
(528
|
)
|
|
(1,133
|
)
|
|
(1,539
|
)
|
||||
Other
(4)
|
—
|
|
|
(117
|
)
|
|
(236
|
)
|
|
(351
|
)
|
||||
Total Interest Income
|
—
|
|
|
(645
|
)
|
|
(1,369
|
)
|
|
(1,890
|
)
|
||||
Net Interest Expense
|
$
|
2,139
|
|
|
$
|
2,367
|
|
|
$
|
4,961
|
|
|
$
|
7,856
|
|
(1)
|
Primarily interest expense on our Credit Agreement Borrowings
|
(2)
|
Includes the amortization of debt issuance costs and a
$480
charge in the second quarter of fiscal 2016 related to the write off of unamortized debt issuance costs
|
(3)
|
Accretion on our
$30,000
note receivable, obtained as part of the sale of Mimi’s Café to Le Duff which was settled in Q3 2017 (also see Note 1 for additional information)
|
(4)
|
Primarily interest income on the
$30,000
note receivable, obtained as part of the sale of Mimi’s Café to Le Duff, which was settled in Q3 2017
|
(in thousands)
|
Restructuring charges
|
||
Balance at April 29, 2016
|
$
|
2,698
|
|
Restructuring and related severance charges incurred
(1)
|
4,391
|
|
|
Amounts paid
|
(2,568
|
)
|
|
Adjustments
|
(282
|
)
|
|
Balance at January 27, 2017
|
$
|
4,239
|
|
(in thousands)
|
Restructuring charges
|
||
Balance at April 24, 2015
|
$
|
3,626
|
|
Restructuring and related severance charges incurred
(1)
|
140
|
|
|
Amounts paid
|
(2,850
|
)
|
|
Adjustments
|
(568
|
)
|
|
Balance at January 22, 2016
|
$
|
348
|
|
(in thousands)
|
January 27, 2017
|
|
April 29, 2016
|
||||
Liability for deferred cash obligations in BEEDP and BEDDP Plans
|
$
|
13,592
|
|
|
$
|
12,845
|
|
Liability for deferred cash obligations in SERP plan
|
5,936
|
|
|
6,271
|
|
||
Liability for deferred share-based obligations in BEEDP and BEDDP Plans
|
1,089
|
|
|
673
|
|
||
Other noncurrent compensation arrangements
|
106
|
|
|
100
|
|
||
Total deferred compensation liabilities
|
20,723
|
|
|
19,889
|
|
||
Less current portion
(1)
|
(2,576
|
)
|
|
(2,128
|
)
|
||
Noncurrent deferred compensation liabilities
|
$
|
18,147
|
|
|
$
|
17,761
|
|
|
Nine Months Ended
|
||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||
Income taxes paid
|
$
|
21,412
|
|
|
$
|
412
|
|
Income taxes refunded
|
(351
|
)
|
|
(12,986
|
)
|
||
Income taxes paid (refunded), net
|
21,061
|
|
|
(12,574
|
)
|
||
Interest paid
|
$
|
7,014
|
|
|
$
|
7,755
|
|
|
Three Months Ended
|
||||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||||||
Category
|
|
|
|
|
|
|
|
||||
Refrigerated Sides
|
38,681
|
|
|
57.0
|
%
|
|
34,190
|
|
|
54.1
|
%
|
Sausage
|
18,346
|
|
|
27.0
|
%
|
|
17,846
|
|
|
28.3
|
%
|
Food Service
|
7,434
|
|
|
10.9
|
%
|
|
7,009
|
|
|
11.1
|
%
|
Frozen
|
1,964
|
|
|
2.9
|
%
|
|
2,053
|
|
|
3.3
|
%
|
Other
|
1,486
|
|
|
2.2
|
%
|
|
2,042
|
|
|
3.2
|
%
|
Total
|
67,911
|
|
|
|
|
63,140
|
|
|
|
|
Three Months Ended
|
||||||
|
Results from Discontinued Operations
|
||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||
(Loss) Income from discontinued operations before income taxes
|
$
|
(4,567
|
)
|
|
$
|
6,636
|
|
(Benefit) Provision for income taxes
|
(2,950
|
)
|
|
121
|
|
||
(Loss) Income from discontinued operations
|
$
|
(1,617
|
)
|
|
$
|
6,515
|
|
|
Nine Months Ended
|
||||||||||||
|
Results from Continuing Operations
|
||||||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||||||||
Net Sales
|
$
|
294,919
|
|
|
|
|
$
|
285,221
|
|
|
|
||
Cost of sales
|
127,171
|
|
|
43.1
|
%
|
|
128,164
|
|
|
44.9
|
%
|
||
Operating wage and fringe benefit expenses
|
31,132
|
|
|
10.6
|
%
|
|
31,198
|
|
|
10.9
|
%
|
||
Other operating expenses
|
44,372
|
|
|
15.0
|
%
|
|
37,640
|
|
|
13.2
|
%
|
||
Selling, general and administrative expenses
|
39,179
|
|
|
13.3
|
%
|
|
49,512
|
|
|
17.4
|
%
|
||
Depreciation and amortization expense
|
17,191
|
|
|
5.8
|
%
|
|
15,966
|
|
|
5.6
|
%
|
||
Impairments
|
15,256
|
|
|
5.2
|
%
|
|
—
|
|
|
—
|
%
|
||
Operating Income
|
$
|
20,618
|
|
|
7.0
|
%
|
|
$
|
22,741
|
|
|
8.0
|
%
|
|
Nine Months Ended
|
||||||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||||||
Category
|
|
|
|
|
|
|
|
||||
Refrigerated Sides
|
97,509
|
|
|
56.9
|
%
|
|
86,200
|
|
|
53.8
|
%
|
Sausage
|
42,819
|
|
|
25.0
|
%
|
|
40,857
|
|
|
25.5
|
%
|
Food Service
|
20,031
|
|
|
11.7
|
%
|
|
20,696
|
|
|
12.9
|
%
|
Frozen
|
6,103
|
|
|
3.6
|
%
|
|
6,796
|
|
|
4.2
|
%
|
Other
|
4,934
|
|
|
2.8
|
%
|
|
5,613
|
|
|
3.6
|
%
|
Total
|
171,396
|
|
|
|
|
160,162
|
|
|
|
|
Nine Months Ended
|
||||||
|
Results from Discontinued Operations
|
||||||
(in thousands)
|
January 27, 2017
|
|
January 22, 2016
|
||||
Income from discontinued operations before income taxes
|
$
|
6,290
|
|
|
$
|
15,016
|
|
(Benefit) Provision for income taxes
|
(1,033
|
)
|
|
1,651
|
|
||
Income from discontinued operations
|
$
|
7,323
|
|
|
$
|
13,365
|
|
•
|
the attention of our management may be directed to transaction-related considerations and may be diverted from the day-to-day operations of our business;
|
•
|
uncertainty regarding the future of our organization may adversely affect our ability to hire, retain and motivate key personnel and other employees; and
|
•
|
customers, suppliers or other parties which we maintain business relationships may experience uncertainty prior to the closing of the sale of the Restaurants Business or the Acquisition and seek alternative relationships with third parties or seek to terminate or renegotiate their relationships with us.
|
|
BOB EVANS FARMS, INC.
|
|
|
|
|
Date: March 8, 2017
|
By:
|
/s/ Saed Mohseni
|
|
|
Saed Mohseni
President and Chief Executive Officer
(Principal Executive Officer)
|
|
|
|
Date: March 8, 2017
|
By:
|
/s/ Mark E. Hood
|
|
|
Mark E. Hood
Chief Financial Officer and Chief Administrative Officer (Principal Financial Officer) |
|
|
|
Date: March 8, 2017
|
By:
|
/s/ Beth A. Rauschenberger
|
|
|
Beth A. Rauschenberger
Senior Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer) |
Exhibit Number
|
|
Description
|
|
Location
|
2.1
|
|
Asset and Membership Interest Purchase Agreement, dated as of January 24, 2017, by and between Bob Evans Farms, Inc. and BER Acquisition, LLC.
|
|
Incorporated herein by reference to Exhibit 2.1 to Bob Evans Farms, Inc.'s Current Report on Form 8-K filed January 25, 2017 (File No. 000-01667)
|
2.2
|
|
Stock Purchase Agreement, dated as of January 24, 2017, by and among BEF Foods, Inc., Pineland Farms Potato Company, Inc., the selling stockholders party thereto, Libra Foundation, in its capacity as the Sellers' Representative, and Bob Evans Farms, Inc.
|
|
Incorporated herein by reference to Exhibit 2.2 to Bob Evans Farms, Inc.'s Current Report on Form 8-K filed January 25, 2017 (File No. 000-01667)
|
3.1
|
|
Amended and Restated Certificate of Incorporation of company reflecting amendments through Aug. 20, 2014. [This document represents the Company’s Certificate of Incorporation in restated format incorporating all amendments. This compiled document has not been filed with the Delaware Secretary of State.]
|
|
Incorporated herein by reference to Exhibit 3.1 to Bob Evans Farms, Inc.’s Current Report on Form 8-K filed September 3, 2014 (File No. 000-01667)
|
3.2
|
|
Amended and Restated By-Laws of Bob Evans Farms, Inc. (Effective August 20, 2014)
|
|
Incorporated herein by reference to Exhibit 3.2 to Bob Evans Farms, Inc.’s Current Report on Form 8-K filed September 3, 2014 (File No. 000-01667)
|
31.1
|
|
Rule 13a-14(a)/15d-14(a) Certification (Principal Executive Officer)
|
|
Filed herewith
|
31.2
|
|
Rule 13a-14(a)/15d-14(a) Certification (Principal Financial Officer)
|
|
Filed herewith
|
32.1
|
|
Section 1350 Certification (Principal Executive Officer)
|
|
Filed herewith
|
32.2
|
|
Section 1350 Certification (Principal Financial Officer)
|
|
Filed herewith
|
101.INS
|
|
XBRL Instance Document
|
|
Filed herewith
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
Filed herewith
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document
|
|
Filed herewith
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith
|
1 Year Bob Evans Farms Chart |
1 Month Bob Evans Farms Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions