COLUMBUS, Ohio – Bob Evans Farms Inc. announced on Tuesday that its third-quarter profit rose 7 percent, raised by unredeemed gift cards and increased sales.
The Associated Press reported that the company’s net income for the three months ended Jan. 25 rose to $20 million, or 61 cents per share, from $18.7 million, or 51 cents per share, during the same period a year earlier.
Bob Evans told the news service that revenue increased to $449.7 million from $419.9 million. The latest quarter included a $6.6 million gain to account for gift certificates and gift cards customers failed to redeem.
Same-store sales rose 1.5 percent at the company's namesake restaurants during the quarter, but Mimi's Cafe same-store sales fell 2 percent, the AP reported.
The company also reaffirmed its fiscal 2008 profit forecast of $1.77 to $1.84 per share, according to the news service.