Diet Craze Lifts Cal-Maine Profit

Updated from 9:23 a.m. EDT

Shares in Cal-Maine Foods ( CALM) popped Monday after the company said net income quadrupled in its fiscal fourth quarter, as the egg market continued to benefit from the low-carbohydrate, high protein diet trend.

The Mississippi-based company had net income of $17.2 million, or 70 cents a share, vs. $4.3 million, or 18 cents a share, a year ago. Revenue rose about 40% to $142.4 million from $103.4 million in the year ago period.

No analyst earnings estimates were available.

Without offering guidance, the company was also optimistic about the future: "As we begin a new fiscal year, the demand for eggs continues to be strong while the supply of eggs is slightly higher than a year ago. Based on current projections, we expect feed prices to decline."

Shares rose $1.72, or 12.2%, to $15.81 in heavy trading. About 4.5 million shares changed hands, which is seven times the average volume of 634,500.

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