July 30, 2008

 

Cal-Maine ends fiscal 2008 strongly with robust egg market

 

Largest US egg producer Cal-Maine Foods, Inc. has a net income of US$151.8 million in fiscal 2008, up from US$36.6 in the previous year.

 

Sales during the year hit US$915.9 million compared to US$598.1 in the previous year.

 

The results for fiscal 2008 reflect very good egg prices, record high feed costs and a solid performance by the company's management team, according to Fred Adams Jr., chairman and chief executive officer of Cal-Maine.

 

Adams expects a continued strong egg demand, slightly higher egg supply and further volatility in corn and soymeal prices.

 

Adams also said the company's operations are running smoothly and they are optimistic about Cal-Maine's business for the year ahead.

 

Cal-Maine recorded a net income of US$36.5 million in the fourth quarter of fiscal 2008, up from US$18.28 in fiscal 2007. Sales during the quarter reached US$235.6 million, up from US$169.87 million during the same period in fiscal 2007.

 

Headquartered in Jackson, Mississippi, Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The company is currently the largest producer and distributor of fresh shell eggs in the US and sells the majority of its shell eggs in approximately 28 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the US.

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