Strong egg market raises profit Cal-Maine
For fiscal year 2008, ended May 31, Cal-Maine Foods, Inc. had net income of $151,861,000, or $6.41 per basic share, compared with net income of $36,656,000, or $1.56 per share, for the previous year. Sales during fiscal 2008 were $915,939,000 compared to $598,128,000 for the previous year.
“For fiscal 2008, our results reflect very good egg
prices, record high feed costs and a solid performance by the Cal-Maine
management team,” said Fred Adams Jr., chairman and chief executive officer. “As
we look ahead, we see continued strong demand for eggs, a slightly higher, but
manageable, egg supply, and further volatility with respect to corn and soybean
meal prices. All of our operations are running smoothly and we are optimistic
about Cal-Maine’s business for the year ahead.”
prices, record high feed costs and a solid performance by the Cal-Maine
management team,” said Fred Adams Jr., chairman and chief executive officer. “As
we look ahead, we see continued strong demand for eggs, a slightly higher, but
manageable, egg supply, and further volatility with respect to corn and soybean
meal prices. All of our operations are running smoothly and we are optimistic
about Cal-Maine’s business for the year ahead.”
For the fourth quarter of
fiscal 2008, Cal-Maine recorded net income of $36,558,000, or $1.54 per basic
share, compared with $18,283,000, or 78c per share. Sales for the quarter were
$235,628,000 compared with $169,872,000.
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