Strong egg market raises profit Cal-Maine
For fiscal year 2008, which ended 31 May, Cal-Maine Foods had net income of $151,861,000, compared to $36,656,000 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 CEO. “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 compared with $18,283,000. Sales for the quarter were $235,628,000 compared with $169,872,000.
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