Beverly Hills 12/29/2009 1:51:00 AM
News / Business

Cal-Maine Foods Inc Beats 2Q Market Estimates

Finance World News Update by EQUITIES Magazine

Egg producer Cal-Maine Foods Inc. (CALM.O) said lower feed costs helped it exceed Wall Street estimates, despite posting a low 2Q profit.

 

The company said that food service and restaurant sales are still down and egg product sales fell roughly two percent.

 

Cal-Maine said net income for the second quarter ended Nov. 28 was $16.1 million, or 67 cents per share, compared with $27.2 million, or $1.14 a share, a year ago. Revenue fell 4 percent to $229.2 million.

 

Cal-Maine stock was up $2.40, or 7.79 percent, to $33.21.

 

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