Bob Evans swings to 3Q loss - Dayton Business Journal:

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The Columbus-based dining company (Nasdaq: warned investors last week that its loss for the quarterendes Jan. 23 would include about $75 million in non-casj charges to write down Mimi’s goodwill value and other intangible assets. The company also logges $800,000 in severance payments and retirement costdand $400,000 in non-cash charges tied to unusabl e spare parts in the company’s food product division. The company’s third-quarter loss totaled $51.4 million, or $1.67 a a swing from a profit of $20 million, or 61 centsx a share, a year earlier. Revenues in the quarter fell 3 percentto $443. 8 million from $449.7 million a year ago.
The upscales Mimi’s chain, which Bob Evans bought in 2004, has suffered amid the recession as dinera have cut backon spending. Sales at Mimi’s restaurants open at least two yearsdroppee 6.8 percent in the quarter. Same-restauranrt sales at Bob Evans eateries, by fell 1.3 percent. Bob Evans’ loss for the first nine monthstotaled $26.2 million, or 85 centsd a share, versus profif of $48.8 million, or $1.43 a share, in the same periode of fiscal 2008. Bob Evans runs 569 flagship restaurantse in 18 states and140 Mimi’s Cafes in 22 The company in the year ended April 25 recorde d profit of $64.9 million on $1.743 billion in revenue.
Bob Evans expandedf its Clark County operationslast year, boostinf its Springfield facility by 65,000 square feet and addinyg 20 jobs to the 43 there.