CalMaine Foods Inc. (CALM, Financial) filed Quarterly Report for the period ended 2009-11-28.
Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlanticregions of the United States. Calmaine Foods Inc. has a market cap of $816.1 million; its shares were traded at around $34.28 with a P/E ratio of 15.4 and P/S ratio of 0.9.
On a comparable basis, excluding the Acquisition, net sales for the thirteen-week period ended November 28, 2009 were $205.3 million, a decrease of $33.0 million, or 13.8%, as compared to net sales of $238.3 million for the thirteen-week period ended November 29, 2008. Dozens sold for the thirteen-week period ended November 28, 2009, excluding the Acquisition, were 185.4 million, an increase of 200,000, or 0.1% as compared to 185.2 million for the thirteen-week period ended November 29, 2008.
Net sales for the twenty-six week period ended November 28, 2009 were $416.9 million, a decrease of $28.3 million, or 6.4% compared to net sales of $445.2 million for the fiscal 2009 twenty-six week period. Dozens sold for the current twenty-six week period were 399.3 million compared to 355.8 million for the same twenty-six week period in fiscal 2009, an increase of 43.5 million dozen, or 12.2%. For the current fiscal 2010 twenty-six week period, our net average selling price per dozen was $.992, compared to $1.173 per dozen for the same period last year, a decrease of $.181 per dozen, or 15.4%.
On a comparable basis, excluding the Acquisition, net sales for the twenty-six week period ended November 28, 2009 were $372.4 million, a decrease of $72.8 million, or 16.4%, as compared to net sales of $445.2 million for the twenty-six week period ended November 29, 2008. Dozens sold for the twenty-six week period ended November 28, 2009, excluding the Acquisition, were 358.2 million, an increase of 2.4 million, or 0.7% as compared to 355.8 million for the twenty-six week period ended November 29, 2008.
For the twenty-six week period ended November 28, 2009, egg product sales were $13.7 million, a decrease of $8.2 million, or 37.4%, as compared to $21.9 million for the same twenty-six week period last year. Egg products are primarily sold into the institutional and food service sectors, and the sizeable decrease in egg products sales is attributable to the declines in these sectors.
Cost of sales consists of costs directly related to production and processing of shell eggs, including feed costs, and purchases of shell eggs from outside egg producers. Total cost of sales for the thirteen-week period ended November 28, 2009 was $182.4 million, an increase of $2.1 million, or 1.2% as compared to the cost of sales of $180.3 million for the thirteen-week period ended November 29, 2008. On a comparable basis, excluding the Acquisition, cost of sales for the thirteen-week period ended November 28, 2009 was $162.8 million, a decrease of $17.5 million, or 9.7% as compared to $180.3 million for the thirteen-week period ended November 29, 2008. This decrease is the result of lower costs of feed ingredients and costs of shell eggs purchased from outside producers. Feed cost for the thirteen-week period ended November 28, 2009 was $.347 per dozen, a decrease of 9.9%, as compared to cost per dozen of $.385 for the same thirteen-week period in fiscal 2009. Decreases in feed cost are the result of lower market prices for corn and soybean meal, primary ingredients for th
Read the The complete ReportCALM is in the portfolios of John Buckingham of Al Frank Asset Management, Inc., Chuck Royce of ROYCE & ASSOCIATES, John Keeley of Keeley Fund Management.
Cal-Maine Foods, Inc. is engaged in the production, cleaning, grading, and packaging of fresh shell eggs for sale to shell egg retailers. The company is the one of the largest producers and distributors of fresh shell eggs in the United States. The company markets its eggs primarily in the southwestern, southeastern, mid-western and mid-Atlanticregions of the United States. Calmaine Foods Inc. has a market cap of $816.1 million; its shares were traded at around $34.28 with a P/E ratio of 15.4 and P/S ratio of 0.9.
Highlight of Business Operations:
Year- to-date, approximately 95% of our net sales consist of shell egg sales and approximately 3% was for sales of egg products, with the 2% balance consisting of sales of incidental feed and feed ingredients. Net sales for the thirteen-week period ended November 28, 2009 were $229.2 million, a decrease of $9.1 million or 3.8%, as compared to net sales of $238.3 million for the thirteen-week period ended November 29, 2008. Total dozens of eggs sold increased and egg-selling prices decreased in the current thirteen-week period as compared to the same comparable thirteen-week period in fiscal 2009. Dozens sold for the current thirteen-week period were 206.3 million dozen, an increase of 21.1 million dozen, or 11.4% as compared to the similar thirteen-week period of fiscal 2009. During this quarter, there was good demand for eggs at the retail level, but a declining demand for eggs from the institutional and food service sectors. Our net average selling price per dozen for the thirteen-week period ended November 28, 2009 was $1.057, compared to $1.209 for the thirteen-week period ended November 29, 2008, a decrease of $.152 per dozen, or 12.6%. 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.On a comparable basis, excluding the Acquisition, net sales for the thirteen-week period ended November 28, 2009 were $205.3 million, a decrease of $33.0 million, or 13.8%, as compared to net sales of $238.3 million for the thirteen-week period ended November 29, 2008. Dozens sold for the thirteen-week period ended November 28, 2009, excluding the Acquisition, were 185.4 million, an increase of 200,000, or 0.1% as compared to 185.2 million for the thirteen-week period ended November 29, 2008.
Net sales for the twenty-six week period ended November 28, 2009 were $416.9 million, a decrease of $28.3 million, or 6.4% compared to net sales of $445.2 million for the fiscal 2009 twenty-six week period. Dozens sold for the current twenty-six week period were 399.3 million compared to 355.8 million for the same twenty-six week period in fiscal 2009, an increase of 43.5 million dozen, or 12.2%. For the current fiscal 2010 twenty-six week period, our net average selling price per dozen was $.992, compared to $1.173 per dozen for the same period last year, a decrease of $.181 per dozen, or 15.4%.
On a comparable basis, excluding the Acquisition, net sales for the twenty-six week period ended November 28, 2009 were $372.4 million, a decrease of $72.8 million, or 16.4%, as compared to net sales of $445.2 million for the twenty-six week period ended November 29, 2008. Dozens sold for the twenty-six week period ended November 28, 2009, excluding the Acquisition, were 358.2 million, an increase of 2.4 million, or 0.7% as compared to 355.8 million for the twenty-six week period ended November 29, 2008.
For the twenty-six week period ended November 28, 2009, egg product sales were $13.7 million, a decrease of $8.2 million, or 37.4%, as compared to $21.9 million for the same twenty-six week period last year. Egg products are primarily sold into the institutional and food service sectors, and the sizeable decrease in egg products sales is attributable to the declines in these sectors.
Cost of sales consists of costs directly related to production and processing of shell eggs, including feed costs, and purchases of shell eggs from outside egg producers. Total cost of sales for the thirteen-week period ended November 28, 2009 was $182.4 million, an increase of $2.1 million, or 1.2% as compared to the cost of sales of $180.3 million for the thirteen-week period ended November 29, 2008. On a comparable basis, excluding the Acquisition, cost of sales for the thirteen-week period ended November 28, 2009 was $162.8 million, a decrease of $17.5 million, or 9.7% as compared to $180.3 million for the thirteen-week period ended November 29, 2008. This decrease is the result of lower costs of feed ingredients and costs of shell eggs purchased from outside producers. Feed cost for the thirteen-week period ended November 28, 2009 was $.347 per dozen, a decrease of 9.9%, as compared to cost per dozen of $.385 for the same thirteen-week period in fiscal 2009. Decreases in feed cost are the result of lower market prices for corn and soybean meal, primary ingredients for th
Read the The complete ReportCALM is in the portfolios of John Buckingham of Al Frank Asset Management, Inc., Chuck Royce of ROYCE & ASSOCIATES, John Keeley of Keeley Fund Management.
