Bob Evans Farms (BOBE) 8-K Bob Evans Farms Announces Second-quarter Financial and Same-store Sales Results; Reduces Outlook for Fiscal 2009

Exhibit 99.2

Bob Evans Farms, Inc.
Earnings Release Fact Sheet (unaudited)
Fiscal 2009 — Quarter 2

Note: amounts are in thousands, except per share amounts

Second quarter (Q2), ended October 24, 2008, compared to the corresponding period a year ago:

	Consolidated Results										Restaurant						Food Products
	Q2		% of			Q2		% of			Q2			Q2			Q2			Q2
	2009		sales			2008		sales			2009			2008			2009			2008
Net sales	$	435,455				$	426,255				$	357,230		$	356,168		$	78,225		$	70,087
Cost of sales		137,219		31.5	%		127,978		30.0	%		25.3	%		25.6	%		59.7	%		52.4	%
Operating wages		150,377		34.5	%		149,483		35.1	%		39.7	%		39.7	%		11.1	%		11.4	%
Other operating		71,204		16.3	%		69,951		16.4	%		18.8	%		18.5	%		5.2	%		5.6	%
S,G & A		35,998		8.3	%		33,906		8.0	%		5.6	%		5.8	%		20.3	%		19.0	%
Depr. & amort.		20,375		4.7	%		18,973		4.4	%		5.2	%		4.8	%		2.5	%		2.8	%
Operating income		20,282		4.7	%		25,964		6.1	%		5.4	%		5.6	%		1.2	%		8.8	%
Interest		3,434		0.8	%		2,661		0.6	%
Pre-tax income		16,848		3.9	%		23,303		5.5	%
Income taxes		5,509		1.3	%		7,819		1.9	%
Net income	$	11,339		2.6	%	$	15,484		3.6	%
EPS — basic	$	0.37				$	0.45
EPS — diluted	$	0.37				$	0.45
Dividends paid per share	$	0.14				$	0.14
Weighted average shares outstanding:
Basic		30,822					34,091
Dilutive stock options		108					261
Diluted		30,930					34,352
Shares outstanding at quarter end		30,795					33,509

• Income taxes, as a percentage of pre-tax income, were 32.7% vs. 33.6%

Fiscal 2009 — Quarter 2 1

Consolidated Review:

• Net sales increased 2.2% ($435.5 million vs. $426.3 million).

• Operating income decreased 21.9% ($20.3 million vs. $26.0 million).

• Pre-tax income decreased 27.7% ($16.8 million vs. $23.3 million).

• Effective tax rate was 32.7% compared to 33.6%.

• Net income decreased 26.8% ($11.3 million vs. $15.5 million).

• Diluted EPS was $0.37 vs. $0.45.

• The second quarter results include the impact of the following (dollars in thousands):

o Consolidated and restaurant results for the second quarters of fiscal 2009 and 2008 included net pre-tax gains of $0.7 million and $1.0 million, respectively, on asset disposals that are reflected in S,G&A.

o The company adopted SFAS 123(R), which requires the expensing of stock options, in the first quarter of FY07. The company significantly reduced the issuance of stock options and implemented a performance incentive plan which predominantly uses restricted stock as the award. The pre-tax expenses of adopting SFAS 123(R) and issuing awards under the plan are:

(amounts in thousands)

	Q2 FY 09		Q2 FY 08		Total FY 09		Total FY 08
	Actual *		Actual *		Estimated		Actual
Stock options	$	170	$	125	$	1,253	$	810
New plan (excluding options)		848		613		6,482		5,470
Total	$	1,018	$	738	$	7,735	$	6,280

* Expense is reflected in S, G & A: $806 and $532 in 2009 and 2008, respectively, in the restaurant segment and $212 and $206 in 2009 and 2008, respectively, in the food products segment.

Fiscal 2009 — Quarter 2 2

Restaurant Review:

• Overall restaurant sales increased 0.3% ($357.2 million vs. $356.2 million).

• Nominal same-store sales decreased 0.5% at Bob Evans Restaurants and decreased 8.3% at Mimi’s.

• Operating income decreased 2.3% ($19.4 million vs. $19.8 million).

• Operating margin was 5.4% compared to 5.6%.

• Restaurants in operation at quarter end were: 570 Bob Evans Restaurants and 139 Mimi’s. 579 Bob Evans Restaurants and 118 Mimi’s were in operation a year ago.

• Restaurant openings, by quarter:

Bob Evans Restaurants:

Fiscal	Beginning												Full					Ending
Year	Total		Q1		Q2		Q3			Q4			Year			Closings		Total
2009		571		0		0		0	e		1	e		1	e		1		571	e
2008		579		0		0		1			1			2			10		571
2007		587		4		1		3			2			10			18		579
2006		591		6		6		3			5			20			24		587
2005		558		11		12		10			4			37			4		591

Mimi’s Cafes:

Fiscal	Beginning												Full					Ending
Year	Total		Q1		Q2		Q3			Q4			Year			Closings		Total
2009		132		3		4		2	e		3	e		12	e		0		144	e
2008		115		1		2		8			6			17			0		132
2007		102		2		1		3			7			13			0		115
2006		92		1		2		1			6			10			0		102
2005		81		0		3		4			4			11			0		92

Consolidated Restaurants:

Fiscal	Beginning												Full					Ending
Year	Total		Q1		Q2		Q3			Q4			Year			Closings		Total
2009		703		3		4		2	e		4	e		13	e		1		715	e
2008		694		1		2		9			7			19			10		703
2007		689		6		2		6			9			23			18		694
2006		683		7		8		4			11			30			24		689
2005		639		11		15		14			8			48			4		683

Fiscal 2009 — Quarter 2 3

     • Rebuilt restaurant openings, by quarter:

Fiscal
Year	Q1		Q2		Q3			Q4			Full Year
2009		1		3		0	e		0	e		4	e
2008		2		2		1			3			8
2007		1		1		1			1			4
2006		6		4		3			1			14
2005		3		5		0			2			10

     • Bob Evans Restaurants same-store sales analysis (24-month core; 546 restaurants):

	Fiscal 2009								Fiscal 2008								Fiscal 2007
	Nominal			Menu		Real			Nominal			Menu		Real			Nominal			Menu		Real
May		4.4			2.8		1.6			0.9			2.0		(1.1	)		(1.2	)		3.1		(4.3	)
June		0.9			2.9		(2.0	)		4.0			2.6		1.4			(4.1	)		3.0		(7.1	)
July		1.1			2.9		(1.8	)		4.4			2.6		1.8			(5.6	)		3.0		(8.6	)
Q1		2.0			2.9		(0.9	)		3.2			2.4		0.8			(3.9	)		3.0		(6.9	)
August		(0.6	)		2.9		(3.5	)		4.3			2.6		1.7			(4.2	)		3.0		(7.2	)
September		0.1			2.9		(2.8	)		0.4			2.6		(2.2	)		5.0			2.4		2.6
October		(0.9	)		2.9		(3.8	)		(1.9	)		1.8		(3.7	)		3.0			2.4		0.6
Q2		(0.5	)		2.9		(3.4	)		0.7			2.3		(1.6	)		1.3			2.6		(1.3	)
November										2.1			2.8		(0.7	)		0.6			1.9		(1.3	)
December										1.1			3.2		(2.1	)		3.3			1.3		2.0
January										1.2			2.3		(1.1	)		2.4			2.3		0.1
Q3										1.5			2.8		(1.3	)		2.1			1.8		0.3
February										3.3			2.4		0.9			(0.7	)		2.4		(3.1	)
March										0.1			2.4		(2.3	)		1.2			2.4		(1.2	)
April										1.7			2.4		(0.7	)		2.1			1.9		0.2
Q4										1.7			2.4		(0.7	)		1.0			2.2		(1.2	)
Fiscal year										1.8			2.5		(0.7	)		0.1			2.4		(2.3	)

Fiscal 2009 — Quarter 2 4

     • Mimi’s Cafe same-store sales analysis (24-month core; 102 restaurants):

	Fiscal 2009								Fiscal 2008								Fiscal 2007
	Nominal			Menu		Real			Nominal			Menu		Real			Nominal			Menu		Real
May		(5.0	)		2.6		(7.6	)		(0.4	)		4.0		(4.4	)		0.3			2.5		(2.2	)
June		(6.0	)		2.7		(8.7	)		(0.1	)		4.0		(4.1	)		(1.0	)		2.5		(3.5	)
July		(8.1	)		2.7		(10.8	)		(1.5	)		3.9		(5.4	)		1.9			2.6		(0.7	)
Q1		(6.5	)		2.7		(9.2	)		(0.7	)		4.0		(4.7	)		0.4			2.5		(2.1	)
August		(7.2	)		2.7		(9.9	)		(1.9	)		3.9		(5.8	)		0.5			2.6		(2.1	)
September		(8.2	)		2.7		(10.9	)		(2.0	)		3.9		(5.9	)		3.3			2.4		0.9
October		(9.3	)		2.8		(12.1	)		(0.8	)		3.7		(4.5	)		2.2			2.7		(0.5	)
Q2		(8.3	)		2.7		(11.0	)		(1.5	)		3.8		(5.3	)		2.0			2.6		(0.6	)
November										(1.9	)		2.8		(4.7	)		2.2			2.9		(0.7	)
December										(1.8	)		2.8		(4.6	)		2.7			3.4		(0.7	)
January										(2.4	)		2.2		(4.6	)		2.8			4.7		(1.9	)
Q3										(2.0	)		2.6		(4.6	)		2.6			3.6		(1.0	)
February										(5.2	)		2.1		(7.3	)		2.6			4.6		(2.0	)
March										(4.3	)		2.6		(6.9	)		(0.2	)		5.0		(5.2	)
April										(6.0	)		2.6		(8.6	)		1.3			5.0		(3.7	)
Q4										(5.3	)		2.4		(7.7	)		1.2			4.9		(3.7	)
Fiscal year										(2.4	)		3.2		(5.6	)		1.6			3.4		(1.8	)

• Key restaurant sales data (core restaurants only):

	Bob Evans
	Restaurants			Mimi’s
Average annual store sales ($) — FY08	$	1,784,000		$	3,350,000
Q2 FY09 day part mix (%):
Breakfast		32	%		21	%
Lunch		36	%		40	%
Dinner		32	%		39	%
Q2 FY09 check average ($)	$	7.93		$	10.71

• Quarterly restaurant sales by concept:

	Q2 2009
Bob Evans Restaurants	$	257,224,000
Mimi’s Cafes		100,006,000
Total	$	357,230,000

Fiscal 2009 — Quarter 2 5

Food Products Review:

• Net sales increased 11.6% ($78.2 million vs. $70.1 million).

• Comparable pounds sold increased 11%.

• Operating income decreased significantly ($0.9 million vs. $6.1 million).

• Operating margin was 1.2% compared to 8.8%.

• Average sow cost increased 27% ($51.00 per cwt vs. $40.00 per cwt). Historical sow cost review (average cost per hundredweight):

Fiscal Year	Q1		Q2		Q3		Q4		Average
2009	$	29.00	$	51.00					$	40.00
2008	$	42.00	$	40.00	$	31.00	$	27.00	$	35.00
2007	$	37.00	$	41.00	$	39.00	$	36.00	$	38.00
2006	$	48.00	$	46.00	$	43.00	$	37.00	$	43.00

• Comparable pounds sold review (principally sausage products and refrigerated potatoes):

Fiscal Year	Q1			Q2			Q3			Q4			Average
2009		13	%		11	%								13	%
2008		4	%		2	%		8	%		5	%		5	%
2007		13	%		11	%		4	%		5	%		8	%
2006		6	%		10	%		12	%		11	%		10	%

• Net sales review (dollars in thousands):

	Q2			Q2
	2009			2008
Gross sales	$	95,119		$	82,976
Less: promotions		(15,653	)		(11,240	)
Less: returns and allowances		(1,241	)		(1,649	)
Net sales	$	78,225		$	70,087

Fiscal 2009 — Quarter 2 6

Balance Sheet Summary:

(in thousands)	Oct. 24, 2008		April 25, 2008
Cash and equivalents	$	14,596	$	7,669
Assets held for sale		570		1,179
Other current assets		69,334		62,635
Net property, plant and equipment		1,004,936		998,402
Goodwill and other intangible assets		112,276		112,686
Other non-current assets		23,752		24,465
Total assets	$	1,225,464	$	1,207,036
Current portion of long-term debt	$	26,904	$	26,904
Line of credit		102,700		138,500
Other current liabilities		150,337		160,800
Long-term debt		176,192		133,096
Other long-term liabilities		136,204		135,111
Stockholders’ equity		633,127		612,625
Total liabilities and equity	$	1,225,464	$	1,207,036

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Certain statements in this report that are not historical facts are forward-looking statements. Forward-looking statements involve various important assumptions, risks and uncertainties. Actual results may differ materially from those predicted by the forward-looking statements because of various factors and possible events. We discuss these factors and events, along with certain other risks, uncertainties and assumptions, under the heading “Risk Factors” in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 25, 2008, and in our other filings with the Securities and Exchange Commission. We note these factors for investors as contemplated by the Private Securities Litigation Reform Act of 1995. Predicting or identifying all such risk factors is impossible. Consequently, investors should not consider any such list to be a complete set of all potential risks and uncertainties. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the statement is made to reflect unanticipated events. All subsequent written and oral forward-looking statements attributable to us or any person acting on behalf of the company are qualified by the cautionary statements in this section.

Fiscal 2009 — Quarter 2 7