USA: Bob Evans Farms announces fourth quarter and fiscal 2001 financial results
Bob Evans Farms, Inc. (Nasdaq: BOBE) today announced financial results for the fiscal fourth quarter and year ended April 27, 2001. Earnings per share for the quarter were $0.34, up 10 percent from $0.31 a year ago and within the range of expectations communicated by the company earlier this year. Operating income was slightly higher in both segments. However, increased costs in the restaurant segment put pressure on margins, and in the food products segment, a decline in comparable pounds sold for the quarter and higher hog costs at the end of the quarter impacted operating income. Earnings per share benefited from a reduced tax rate and the company's ongoing share repurchase program. Net sales for the quarter totaled $251.5 million, up 5 percent from $239.0 million a year ago. For the full fiscal year, net sales rose 6 percent and surpassed $1 billion for the first time in the company's history, while diluted earnings per share were $1.44, up 4 percent from $1.38 in fiscal 2000.
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