Cal-Maine Foods posts profit in first quarter
October 01, 2007
by FoodBusinessNews.net Staff
JACKSON, MISS. — Net income for Cal-Maine Foods, Inc. in the first quarter ended Sept. 1 was $17,966,000, equal to 76c per share on the common stock, which compared with a loss of $5,431,000 during the same quarter of the previous year.
Net sales were $178,598,000, up 55% compared with $115,308,000 during the same quarter of the previous year.
"Our sales volumes and overall profitability were strong for the first quarter of fiscal 2008," said Fred Adams Jr., chairman and chief executive officer. "We benefited from excellent egg prices during a quarter that is seasonally weak. We were pleased with our overall operating efficiency and ability to achieve favorable margins in spite of higher feed costs."
Mr. Adams also said demand for eggs was good from both retail and food service customers and the company also had strong export sales to Europe and Japan.