Cal-Maine Foods, Inc. Announces Fourth Quarter and Year-end Results.Business Editors JACKSON Jackson. 1 City (1990 pop. 37,446), seat of Jackson co., S Mich., on the Grand River; inc. 1857. It is an industrial and commercial center in a farm region. , Miss.--(BUSINESS WIRE)--July 20, 2001 Cal-Maine Foods, Inc. (Nasdaq:CALM) today reported results for its fourth quarter and fiscal year ended June June: see month. 2, 2001. For the fourth quarter of fiscal 2001, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight increased 11% to $86.4 million compared with net sales of $77.8 million for the fourth quarter a year ago. The net profit for the fourth quarter was $432,000, or $0.04 per share, compared with a net loss of $5.3 million, or $0.43 per share, for the fourth quarter of fiscal 2000. The fourth quarter of fiscal 2001 contained 13 weeks compared with 14 weeks in the prior year's fourth quarter. For the 2001 fiscal year, net sales increased 25% to $358.4 million compared with net sales of $287.1 million for fiscal 2000. The Company reported a net profit of $6.8 million, or $0.57 per share, compared with a net loss of $17.4 million, or $1.41 per share, in fiscal 2000. Fiscal 2001 contained 52 weeks compared with 53 weeks in fiscal 2000. Fred Adams Fred Adams is an American astrophysicist who has made contributions to the study of physical cosmology. Biography Fred Adams is professor of physics at the University of Michigan, where his main field of research is astrophysics theory focusing on star formation, , Jr., chairman and chief executive officer of Cal-Maine Foods, stated, "We are very pleased with the improvement in profitability made during fiscal 2001. The return to profitability was primarily a result of improved egg prices and increases in operational efficiencies. These results reflect the efforts and dedication of a lot of hard-working hard-working adj → trabajador(a) hard-working hard adj → travailleur/euse, consciencieux/euse hard-working hard , capable people throughout our company." Cal-Maine Foods, Inc. is primarily engaged in the production, cleaning, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi Jackson is the capital and the most populous city of the U.S. State of Mississippi. It is one of the county seats of Hinds County; Raymond is the other county seat. As of the 2000 census Jackson's population was 184,256. , currently is the largest producer and distributor of fresh shell eggs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and sells the majority of its shell eggs in approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 26 states across the southwestern south·west n. 1. Abbr. SW The direction or point on the mariner's compass halfway between due south and due west, or 135° west of due north. 2. An area or region lying in the southwest. 3. , southeastern, mid-western and mid-Atlantic Adj. 1. mid-Atlantic - of a region of the United States generally including Delaware; Maryland; Virginia; and usually New York; Pennsylvania; New Jersey; "mid-Atlantic states" middle Atlantic regions of the United States. Statements contained in this press release which are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to risks and uncertainties (contained in the Company's SEC filings) which could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company.
CAL-MAINE FOODS, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share data)
Thirteen Fourteen
Wks. Ended Wks. Ended
June 2, June 3,
2001 2000
----------- -----------
Net sales $86,392 $77,755
Gross profit 12,272 3,171
Operating income (loss) 1,633 (7,400)
Income (loss) before income taxes 671 (7,972)
Net income (loss) $432 $(5,286)
Net income (loss) per common share:
Basic $0.04 $(0.43)
Diluted $0.04 $(0.43)
Weighted average shares outstanding:
Basic 11,915 12,245
Diluted 12,013 12,245
Fifty-Two Fifty-Three
Wks. Ended Wks. Ended
June 2, June 3,
2001 2000
--------- --------
Net sales $358,412 $287,055
Gross profit 58,995 18,118
Operating income (loss) 16,658 (21,941)
Income (loss) before income taxes 10,715 (27,012)
Net income (loss) $6,824 $(17,379)
Net income (loss) per common share:
Basic $0.57 $(1.41)
Diluted $0.56 $(1.41)
Weighted average shares outstanding:
Basic 12,051 12,362
Diluted 12,120 12,362
Book value per share outstanding at
fiscal year end $ 5.56 $ 5.02
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