GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

CalMaine Foods Inc. Reports Operating Results (10-Q)

December 30, 2010 | About:
insider

10qk

18 followers
CalMaine Foods Inc. (CALM) filed Quarterly Report for the period ended 2010-11-27.

Calmaine Foods Inc. has a market cap of $757 million; its shares were traded at around $31.74 with a P/E ratio of 10.2 and P/S ratio of 0.9. The dividend yield of Calmaine Foods Inc. stocks is 0.8%.CALM is in the portfolios of John Buckingham of Al Frank Asset Management, Inc., Chuck Royce of Royce& Associates, Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.

Highlight of Business Operations:

Year- to-date, approximately 96% of our net sales consist of shell egg sales and approximately 3% was for sales of egg products, with the 1% balance consisting of sales of incidental feed and feed ingredients. Net sales for the thirteen-week period ended November 27, 2010 were $234.5 million, an increase of $5.3 million or 2.3%, as compared to net sales of $229.2 million for the thirteen-week period ended November 28, 2009. Total dozens of eggs sold decreased and egg-selling prices increased in the current thirteen-week period as compared to the same comparable thirteen-week period in fiscal 2010. Dozens sold for the current thirteen-week period were 206.0 million dozen, a decrease of 300,000 dozen, or 0.1% as compared to 206.3 million dozen sold during same thirteen-week period of fiscal 2010. Our net average selling price per dozen for the thirteen-week period ended November 27, 2010 was $1.090, compared to $1.057 for the thirteen-week period ended November 28, 2009, an increase of $.033 per dozen, or 3.1%. The net average selling price per dozen is the blended price for all sizes and grades of shell eggs, including non-graded egg sales, breaking stock and undergrades.

For the thirteen weeks, ended November 27, 2010, egg product sales were $6.9 million, a decrease of $800,000, or 10.4%, as compared to $7.7 million for the same thirteen- week period last year. This decrease is due to reduced production at our American Egg Products facility. Egg products are primarily sold into the institutional and food service sectors.

Net sales for the twenty-six week period ended November 27, 2010 were $424.9 million, an increase of $8.0 million, or 1.9% compared to net sales of $416.9 million for the fiscal 2010 twenty-six week period. Dozens sold for the current twenty-six week period were 400.0 million compared to 399.3 million for the same twenty-six week period in fiscal 2010, an increase of 700,000 dozen, or 0.2%. For the current fiscal 2011 twenty-six week period, our net average selling price per dozen was $1.012, compared to $0.992 per dozen for the same period last year, an increase of $0.020 per dozen, or 2.0%.

For the twenty-six week period ended November 27, 2010, egg product sales were $13.5 million, a decrease of $200,000, or 1.5%, as compared to $13.7 million for the same twenty-six week period last year. This decrease is due to reduced production at our American Egg Products facility.

Read the The complete Report

About the author:

10qk
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 4.5/5 (4 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide