Cal-Maine 2nd-quarter net off 5.6%, sales up 2.3%
TEL AVIV (MarketWatch) — Cal-Maine Foods Inc., the Jackson, Miss., egg producer, reported fiscal second-quarter net income fell 5.6% on 2.3% higher sales. For the quarter ended Nov. 27, earnings dropped to $15.2 million, or 63 cents a share, from $16.1 million, or 67 cents, in the year-earlier period. Sales reached $234.5 million from $229.2 million. Market conditions improved, and sales rose due to stronger pricing, President and Chief Executive Dolph Baker said in a Monday statement. Specialty-egg sales “have continued to grow, even in a difficult economic environment,” he said. But feed costs hurt second-quarter profitability and “remain a concern for fiscal 2011,” he said.
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