Bob Evans Farms Inc. said Wednesday it had net income of 48.2 million, or 41 cents a share, in its fiscal third quarter to Jan. 27, down from $12.9 million, or 62 cents a share, in the year-earlier period. Adjusted per-share earnings came to 75 cents, just below the FactSet consensus of 76 cents. Sales fell to $335.9 million from $346.5 million and were also below the FactSet consensus of $345 million. The company, which in January agreed to sell its Bob Evans Restaurants business to private-equity firm Golden Gate Capital, said it gained market share and pounds sold growth in its key markets in the quarter. "Retail channel pounds sold increased nearly 8 percent, with retail side-dish and sausage gains of approximately 13 percent and 3 percent, respectively, driving market share gains in core and national markets," Chief Executive Saed Mohseni said in a statement. The company is now expecting fiscal 2017 adjusted EPS of $2.22 to $2.32, up from a prior range of $2.15 to $2.30. The current FactSet consensus is for EPS of $2.44. Shares were not yet active premarket, but have gained 23% in the last 12 months, while the S&P 500 has gained about 20%.
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