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July 29, 2015 4:09 PM ET

Food Products

Company Overview of BEF Foods, Inc.

Company Overview

BEF Foods, Inc. produces and distributes retail pork sausage, refrigerated side dishes, and frozen convenience and foodservice items. The company was incorporated in 2011 and is based in Columbus, Ohio. BEF Foods, Inc. operates as a subsidiary of Bob Evans Farms, LLC.

3776 South High Street

Columbus, OH 43207

United States

Founded in 2011

Phone:

614-491-2225

Key Executives for BEF Foods, Inc.

President
Age: 56
Compensation as of Fiscal Year 2015.

BEF Foods, Inc. Key Developments

BEF Foods Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended April 24, 2015; Provides Sales Guidance for the Fiscal 2016

BEF Foods reported unaudited earnings results for the fourth quarter and full year ended April 24, 2015. For the quarter, the company reported net sales of $94.206 million compared to $95.349 million for the same period a year ago. Operating income was $10.131 million compared to $2.116 million for the same period a year ago. Total non-GAAP operating income was $14.007 million compared to $3.336 million for the same period a year ago. For the year, the company reported net sales of $379.313 million compared to $95.349 million for the same period a year ago. Operating income was $20.438 million compared to $5.991 million for the same period a year ago. Total non-GAAP operating income was $28.425 million compared to $12.909 million for the same period a year ago. The company’s net sales in fiscal 2016 are expected to be in the $380 million to $400 million range.

Bob Evans Not Looking To Sell BEF Foods

Bob Evans Farms, Inc. (NasdaqGS:BOBE) said it was not currently looking at selling or spinning off BEF Foods, Inc. and was evaluating strategic options for all or a portion of its real-estate assets.

BEF Foods, Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended January 23, 2015; Provides Sales Guidance for the Fiscal 2015

BEF Foods, Inc. reported unaudited earnings results for the third quarter and nine months ended January 23, 2015. For the quarter, the company reported operating income of $9,658,000 compared to $1,376,000 a year ago. Net sales were $106.8 million, an increase of $7.2 million, or 7.2%, compared to net sales of $99.6 million in the corresponding period last year. The increase resulted from $2.8 million of net sausage pricing and a 21.9% increase in side-dish volume, partially offset by lower sausage, food service, and frozen product volume. Overall, total pounds sold increased 5.5% compared to the prior year period. Non-GAAP operating income was $11.6 million, compared to non-GAAP operating income of $2.2 million in the corresponding period last year. The primary drivers of the $9.4 million increase were: $4.3 million of cost of goods sold favorability resulting from improved production yields, decreased sow and trim costs ($1.2 million), and the favorable impact of sales mix resulting from the growth in the company's higher-margin refrigerated side dish product line; $1.6 million of labor cost favorability due primarily to reduced headcount as a result of last year's plant network consolidation and improved plant efficiencies; a $1.0 million decline in other operating expenses due primarily to plant startup costs impacting the prior year period; and approximately $2.5 million of sales leverage. For the nine months period, the company reported operating income of $10,307,000 against $3,876,000 for the same period a year ago. Non-GAAP operating income from continuing operations was $14,417,000 against $9,574,000 for the same period a year ago. Net Sales were $285,105,000 against $276,624,000 for the same period a year ago. For the fiscal year 2015, the company expects net sales to be $370 million to 380 million.

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