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BOBE > SEC Filings for BOBE > Form 8-K on 16-Dec-2013All Recent SEC Filings

Show all filings for BOB EVANS FARMS INC

Form 8-K for BOB EVANS FARMS INC


16-Dec-2013

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standar


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On December 16, 2013, Bob Evans Farms, Inc., a Delaware corporation (the "Company"), announced that, due to the delayed filing of its quarterly report on Form 10-Q for the quarter ended October 25, 2013 (the "Second Quarter Form 10-Q"), the Company has received, as expected, a notification letter (the "NASDAQ Notice") from The NASDAQ Stock Market ("NASDAQ") stating that the Company is no longer in compliance with NASDAQ Stock Market Rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). The NASDAQ Notice was received by the Company on December 13, 2013.

As previously discussed on the Company's earnings call on December 4, 2013, the Company is in the process of finalizing the Second Quarter Form 10-Q. During the second quarter, the Company adjusted prior period balances related to income tax liabilities, property, plant and equipment and other individually insignificant items. The Company believes the impact of these adjustments is not material to any of the prior years. However, the cumulative effect of these adjustments is expected to be material to the current year. The adjusted items are noncash in nature, with the exception of a tax item, which the Company expects will result in a cash tax benefit of approximately $3.5 million, which the Company should realize over the next 12 months.

The NASDAQ Notice provides that the Company has 60 calendar days from the date of the NASDAQ Notice to submit to NASDAQ a plan to regain compliance with the NASDAQ Stock Market Rules. The Company intends to submit a plan to regain compliance within the 60-day period. If NASDAQ accepts the Company's plan, then NASDAQ may grant the Company up to 180 calendar days from the prescribed due date for the filing of the Second Quarter Form 10-Q, or until June 2, 2014, to regain compliance.

A copy of the Company's press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release of Bob Evans Farms, Inc. dated December 16, 2013.


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