Cal-Maine Foods, Jackson, Miss., showed net income of $6.4 million the second quarter of fiscal 2007 compared with a loss of $685,000 for same period a year earlier, and net income of $970,000 the first half of fiscal 2007 compared with a net loss of $8.8 million for the year-earlier period, the company reported Jan. 3. Net sales for the second quarter of fiscal 2007 were $137.7 million compared with $138.3 million a year earlier. Net sales for the first six months of fiscal 2007 were $253 million, up from $218 million the prior year.
“All of our egg operations are running smoothly and egg demand was good during the second quarter, especially during the weeks leading up to Thanksgiving,” says Fred Adams, Cal-Maine chairman and CEO. “Supplies of eggs were adequate but tight enough to allow strong price increases during the last few weeks of the quarter. We started the third quarter with profitable prices that continued through the Christmas holiday season. Feed costs continue to be high due to demand for ethanol, but we believe higher egg prices will more than offset the increase in feed costs in the year ahead,” he said.
