Bob Evans Seeks New Strategy On Tepid Results

Bob Evans Farms Inc. late Tuesday reported its fiscal second-quarter net income slipped to $6 million from $6.1 million a year ago. On a per-share basis, earnings came in at 25 cents vs 23 cents. Excluding items, Bob Evans would have earned 36 cents a share, better than Wall Street's estimate of 34 cents a share. Revenue edged up to $333.3 million from $332.6 million. The board is currently in the process of reviewing its financial and capital allocation plan in an effort to boost operating margins, Bob Evans said in a statement. Shares of Bob Evans slumped 4.6% after hours.