Cal-Maine Foods Posts Q4 Loss On One-time Charge - Quick Facts

(RTTNews) - Cal-Maine Foods, Inc. (CALM) reported a fourth-quarter net loss of $3.8 million, or $0.16 per share, compared to net earnings of $37.3 million, or $1.56 per share, last year. The company noted that its results for the fourth quarter of 2013 include a one-time charge of $17.0 million, or $0.71 per basic share, after tax, related to the settlement of a direct purchaser class claim against the company.

Results for the fourth quarter of prior year included a one-time gain of approximately $27.0 million, or $1.12 per share, after tax, as a result of a distribution from Eggland's Best, Inc. related to the joint venture between Eggland's Best, Inc. and Land O'Lakes, Inc.

Excluding one-time items, net earnings were $13.2 million, or $0.55 per basic share for the quarter.

Net sales were $325.9 million, compared to $275.2 million a year ago. The company noted that its fourth quarter of fiscal 2013 had 13 weeks, compared to 14 weeks in the prior year period.