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Cal-Maine Foods, Inc. Reports Second Quarter Fiscal 2013 Results

Stocks in this article: CALM

“We continued to expand our operations in fiscal 2013 as we completed another acquisition during the second quarter,” added Baker. “As previously announced, we acquired the commercial egg production and related assets of Texas-based Maxim Production Co., Inc., including a feed mill and two production complexes with capacity for approximately 3.5 million laying hens with related pullet capacity. In addition, we added related contract capacity for approximately 500,000 laying hens. This transaction, along with our previous acquisition of the Pilgrim’s Pride egg production assets, further advances our strategy to grow our business through selective acquisitions. Our management team is focused on making the right investments to ensure a successful integration of these additional facilities. We are pleased with our progress to date and look forward to the new opportunities ahead for Cal-Maine Foods.”

For the second quarter of fiscal 2013, Cal-Maine Foods will pay a cash dividend of approximately $0.199 per share to holders of its common and Class A common stock. The amount paid could vary slightly based on the amount of outstanding shares on the record date. The dividend is payable February 14, 2013, to shareholders of record on January 30, 2013.

Selected operating statistics for the second quarter and year to date periods of fiscal 2013 compared with the prior year periods are shown below:

       
13 Weeks Ended 26 Weeks Ended

December 1,2012

   

November 26,2011

December 1,2012

   

November 26,2011

Dozen Eggs Sold (000) 238,064 218,132 448,125 426,228
Dozen Eggs Produced (000) 179,849 166,233 337,751 325,677
 
% Specialty Sales (dozen) 16.4 % 16.3 % 16.2 % 16.0 %
 

Net Average Selling Price (dozen)

$ 1.323 $ 1.272 $ 1.283 $ 1.196
Feed Cost (dozen) $ 0.574 $ 0.465 $ 0.547 $ 0.474
 
% Specialty Sales Dollars 22.9 % 22.7 % 23.2 % 23.1 %
 

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The Company, which is headquartered in Jackson, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States 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.

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