Cal-Maine Foods Reports Second Quarter 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)--Dec. 28, 2000 Cal-Maine Foods, Inc. (Nasdaq/NM:CALM) today reported results for the second quarter and six months ended December December: see month. 2, 2000. 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 for the second quarter of fiscal 2001 were $92.6 million compared with net sales of $71.1 million for the same quarter of fiscal 2000. The Company reported a net income of $4.2 million, or $0.35 per share, for the second quarter of fiscal 2001 compared with a net loss of $ 2.7 million, or $0.22 per share, for the same quarter a year ago. For the first six months of fiscal 2001, net sales were $168.1 million compared with net sales of $130.1 million for the same period a year ago. The Company reported a net income of $1.6 million, or $0.13 per share, for the first six months of fiscal 2001 compared with a net loss of $8.1 million, or $0.65 per share, for the same period a year ago. 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, "We are pleased to report a net profit for both the second quarter and first six months of fiscal 2001. Demand for eggs was very good for most of the second quarter. The improved demand and better supply balance resulted in higher egg prices. As we enter our third fiscal quarter, egg prices remain good, our operations are running smoothly, and feed prices are up only moderately from a year ago." 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 south·east n. 1. Abbr. SE The direction or point on the mariner's compass halfway between due south and due east, or 135° east of due north. 2. An area or region lying in the southeast. 3. , 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
FINANCIAL HIGHLIGHTS
(Unaudited)
(In thousands, except per share amounts)
13 Weeks Ended
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Dec. 2, Nov. 27,
2000 1999
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Net sales $92,589 $71,054
Gross profit 18,296 6,667
Operating income (loss) 7,858 (2,945)
Income (loss) before income taxes 6,601 (4,277)
Net income (loss) $4,226 $(2,732)
Basic and diluted net income (loss)
per common share $.35 $(.22)
Weighted average shares outstanding:
Basic 12,114 12,403
Diluted 12,122 12,403
Book value per share outstanding $5.13 $5.78
26 Weeks Ended
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Dec. 2, Nov. 27,
2000 1999
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Net sales $168,107 $130,109
Gross profit 26,164 8,400
Operating income (loss) 5,614 (10,308)
Income (loss) before income taxes 2,526 (12,782)
Net income (loss) $1,604 $(8,096)
Basic and diluted net income (loss)
per common share $.13 (.65)
Weighted average shares outstanding:
Basic 12,153 12,427
Diluted 12,190 12,427
Book value per share outstanding $5.13 $5.78
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