Cal-Maine Foods Q1 Profit Slips - Quick Facts

(RTTNews) - Shell eggs producer Cal-Maine Foods, Inc. (CALM) posted lower first-quarter net income of $8.8 million, or $0.36 per share, versus the previous year's $9.4 million, or $0.39 per share. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.36 for the quarter. Analysts' estimates typically exclude one-time items.

However, net sales for the three-month period totaled $319.5 million, up 17 percent from the prior-year figure of $272.9 million, reflecting higher volumes and higher average selling prices compared with last year. Specialty eggs continued to gain in popularity with consumers and accounted for 16.2 percent of dozens sold and 24.6 percent of total shell egg sales for the first quarter.

For the first quarter of fiscal 2014, Cal-Maine Foods said it would pay a cash dividend of about $0.068 per share to holders of its common and Class A common stock.