Cal-Maine records more sales, improved earnings
Published: December 28,2011
JACKSON — Cal-Maine Foods Inc. sold more eggs at higher prices in its fiscal second quarter, boosting profit despite higher feed costs.
The nation’s largest producer of fresh eggs, Cal-Maine’s profit rose to $23.3 million, or 97 cents per share, in the quarter ended Nov. 26. That’s up 53 percent from $15.2 million, or 64 cents per share, in the 2010 quarter.
Sales rose to $290.4 million in the quarter, up 24 percent from $234.5 million from a year ago.
CEO Dolph Baker said in a statement that egg demand was higher this year and that the company was aided by increased sales of higher-priced specialty eggs. The average wholesale price of a dozen eggs rose to $1.27 from $1.09, helping Cal-Maine absorb a 20 percent increase in feed costs.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS: Who in the Hell are We?
- New Mississippi state highway map is available for the public
- Tanger Outlets involved in Southaven project
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Ikea confirms plan for Memphis store
- McCrory joins Epps in asking for trial delay
- Former Lane Furniture plant sold for $1.45 million
- OUR VIEW: JRA evolving toward transparency? Maybe, maybe not
- Jon-Paul Croom made CEO