Cal-Maine Foods Reports First Quarter Fiscal 2009 Results.JACKSON, Miss. -- Cal-Maine Foods, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CALM) today announced results for its first quarter of fiscal 2009 ended August 30, 2008. For the first quarter of fiscal 2009, 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 were $206.9 million, compared with net sales of $178.6 million for the first quarter of fiscal 2008. The Company reported net income of $11.1 million, or $0.47 per basic and diluted share, for the first quarter of fiscal 2009 compared with net income of $18.0 million, or $0.76 per basic and diluted share, for the year-earlier period. 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, Inc., stated, "Egg prices and total dozens sold were both up for the first quarter of fiscal 2009 compared with the same period last year. Demand for eggs was strong in both the retail and food service markets. However, our feed costs were dramatically higher and reduced the Company's earnings for the quarter compared with a year ago. Corn and soybean soybean, soya bean, or soy pea, leguminous plant (Glycine max, G. soja, or Soja max) of the family Leguminosae (pulse family), native to tropical and warm temperate regions of Asia, where it has been meal prices peaked in July, but have dropped substantially in the last few weeks. While estimates for the final crop yields vary widely, it is expected that feed prices will remain volatile and high for the year ahead. USDA USDA, n.pr See United States Department of Agriculture. statistics indicate that egg supply will remain flat for the next few months. All of Cal-Maine's operations continue to run smoothly." For the first quarter of fiscal 2009, Cal-Maine will pay a cash dividend of approximately $.157 per share to holders of its common stock. A cash dividend of approximately $.149 per share will be paid to holders of its Class A common stock, which represents 95 percent of the amount paid to holders of common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable November 13, 2008, to shareholders of record on October 29, 2008. Cal-Maine Foods, Inc. is primarily engaged in the production, 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 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. Statements contained in this press release that are not historical facts are forward-looking statements 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) that could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company. [TABLE OMITTED] |
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