Challenging market, input costs cut Cal-Maine’s earnings
by MBJ Staff
Published: January 3,2013
JACKSON — Cal-Maine Foods Inc. reported net sales for the second quarter of fiscal 2013 were $328.9 million, compared with net sales of $290.4 million for the same quarter of fiscal 2012.
The egg company reported net income of $14.3 million, or $0.60 per basic share, for the second quarter, compared with net income of $23.3 million, or $0.97 per basic share, for the second quarter of fiscal 2012.
For the first six months of fiscal 2013, net sales were $601.8 million, compared with net sales of $534.2 million for the prior-year period.
Cal-Maine reported net income of $23.7 million, or $0.99 per basic share, for the first half of fiscal 2013, compared with net income of $26.4 million, or $1.11 per basic share, for the year-earlier period.
Dolph Baker, chairman, president and CEO of Cal-Maine, said, “We are pleased with the continued growth in sales for the second quarter of fiscal 2013; however, our operating results also reflect challenging market conditions and increased input costs.”
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