Company Overview of BEF Foods, Inc.
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
Founded in 2011
Key Executives for BEF Foods, Inc.
Compensation as of Fiscal Year 2014.
BEF Foods, Inc. Key Developments
Bob Evans Not Looking To Sell BEF Foods
Mar 4 15
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
Mar 3 15
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.
Bob Foods Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended October 24, 2014; Provides Sales Guidance for Fiscal 2015
Dec 2 14
Bob Foods reported unaudited earnings results for the second quarter and six months ended October 24, 2014. For the quarter, the company reported net sales of $92,128,000 against $92,100,000 for the same period in the last year, as a 9.0% increase in side-dish volume was offset by lower sausage sales. Total non-GAAP operating income was $3,246,000 against $637,000 for the same period in the last year. The primary drivers of the $2.6 million increase were: $2.5 million of favorability resulting primarily from lower advertising expenses and reduced headcount; $1.9 million of cost of goods sold favorability resulting from the effect of a higher sales mix of non-sausage products net of increased sow and trim costs ($0.8 million) and increased freight-in costs to plants; $0.2 million of other operating expense favorability from reduced insurance costs and repair and maintenance expenses; partially offset by $1.1 million of incremental depreciation as a result of plant expansions in the prior year, and $0.8 million of increased labor costs also related to the plant expansions. Operating income was $2,300,000 against operating loss of $3,017,000 for the same period in the last year.
For the six months, the company reported net sales of $178,317,000 against $176,998,000 for the same period in the last year. Total non-GAAP operating income was $2,826,000 against $7,342,000 for the same period in the last year. Non-GAAP net income from continuing operations was $2,826,000 against $7,342,000 for the same period in the last year. Operating income was $649,000 against $2,500,000 for the same period in the last year.
The company expects net sales of $388 to $398 million for the fiscal 2015.
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