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Bob Evans Farms, Inc. Message Board

golfer18us 8 posts  |  Last Activity: Aug 25, 2015 9:37 AM Member since: Jun 9, 2011
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  • Reply to

    RJ did a good job on the call

    by pechstein.carl Aug 13, 2015 5:34 PM
    golfer18us golfer18us Aug 25, 2015 9:37 AM Flag

    I'm not for, or against, RJ and Cosi however the numbers paint a very troubling picture. With gross margins in the negative, or slightly positive, territory, it's hard to see how this company can continue to operate and do the remodels they're talking about. They would need a significant boost in same-store sales at a very high flow-through to get this to be cash neutral. Maybe he'll do it but I think the odds are against him.

  • Before looking at the SEC filings for the Q, I read the transcript of RJ's call. Boy, was he doing his best cheerleading job and I was thinking "hey, maybe he's making progress". Then, I looked at the filings and here's what the cold hard numbers say:

    * gross profit dollars were down versus same quarter last year and margin % was worse (note, you have to really compare the quarter to the same quarter prior year due to seasonality...comparing to the quarter ended March isn't the best way to view results).

    * operating losses were only lower versus June 2014 because they didn't have big lease termination costs hitting June 2015.

    * the "cash used" got worse by $2 million and they burned another $7 million in the quarter

    Maybe he can turn it around...I don't know. But, I do know the quarterly numbers looked much worse than what you'd expect after listening to that call.

  • Reply to

    Get "The Profit" guy

    by suitcase8858 Jul 13, 2015 4:20 PM
    golfer18us golfer18us Jul 29, 2015 6:08 PM Flag

    You might want to wait until you see the quarterly numbers before you commit any of your hard earned money to this. They've never made money and certainly won't next quarter. This is going to be a slowly melting ice cube and likely to run out of cash in the next 12 months unless they find some other source of funding.

    Sentiment: Strong Sell

  • Reply to

    another $4-$5 million quarterly loss is coming..

    by svenkarls1 Jul 25, 2015 12:47 PM
    golfer18us golfer18us Jul 28, 2015 9:05 AM Flag

    agreed....at the end of the last fiscal year, they had $52 million in remaining lease obligations and all the debt comes due in 2017 I believe. They'll burn probably half the cash they had on the books at the end of the March quarter. I don't see how they get through the next 12 months without filing.

  • Reply to

    Positive cash flows in September quarter

    by ls99ls Jun 28, 2015 7:34 AM
    golfer18us golfer18us Jul 9, 2015 9:58 AM Flag

    Highly unlikely given the sales trends and the poor margins they've had. They've consistently lost $4MM and, depending on what they do to manage working capital, that has translated into a bunch of cash being burned.

    While I don't like saying this, I suspect this will be filing for Chapter 11 protection at the end of this year unless they have another injection of financing. They have $13MM in cash now and, at recent burn rates, that won't last much longer. Maybe his efforts to turn around sales will kick in but a lot of positive things would have to happen on the cost side for those incremental sales to turn this cash positive. Time will tell.

  • Reply to

    Making money

    by rtycrris Apr 16, 2015 3:29 PM
    golfer18us golfer18us Jun 3, 2015 4:54 PM Flag

    Looks like you were wrong.

  • Reply to

    Dead money

    by golfer18us May 26, 2015 4:04 PM
    golfer18us golfer18us Jun 3, 2015 4:49 PM Flag

    Thanks. When folks revert to name calling, bullying, etc, they clearly have run out of logical responses to make and respond as if they're in 3rd grade. I see no fundamentals that would give a true investor a reason to make a long term investment in this equity.

  • Reply to

    Dead money

    by golfer18us May 26, 2015 4:04 PM
    golfer18us golfer18us Jun 2, 2015 11:31 AM Flag

    Wow. I don't understand why folks have to resort to calling people names, etc when a poster has an opinion they may not agree with. To answer your question, I'm here because I see people post positive comments about this stock that are not supported by facts...that's all.

BOBE
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