Egg Supplier Cal-Maine Posts Higher Net Amid Record Prices |
| Wall Street Journal - Dec 28, 2007 |
Cal-Maine Foods Inc.'s fiscal second-quarter net income rose six-fold amid record prices, a trend the company expects to continue.
For the quarter ended Dec. 1, the Jackson, Miss.-based egg supplier -- home to the Eggland's Best and Farmhouse brands -- posted net income of $40.2 million, or $1.69 a share, versus $6.4 million, or 27 cents a share, a year ago.
Revenue rose 62% to $223.7 million at the largest and only publicly traded U.S. egg producer, whose customers include Wal-Mart Stores Inc.'s namesake and Sam's Club units. Gross margin nearly doubled to 34% from 18.1%.
"These results reflect the favorable market conditions, with egg prices reaching record levels during the quarter," said Chairman and Chief Executive Fred Adams Jr. "All of our operations performed well during the period."
Read Full Article from Wall Street Journal
- Posted: 2007-12-28 10:13:23
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