Cal-Maine Foods Q1 Profit Surges - Quick Facts

(RTTNews) - Cal-Maine Foods Inc. (CALM) reported that its net income for the first quarter of fiscal 2015 significantly increased to $27.7 million or $1.14 per share, from $8.8 million, or $0.36 per share, in the first quarter of fiscal 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $1.17 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net sales were $356.9 million, an increase of 12 percent compared with net sales of $319.5 million last year.

The company said its increased sales reflect higher volumes and higher average selling prices compared with the first quarter last year. Consumer demand for eggs has been very favorable and it experienced continued strong demand from all the major market segments including retail, egg product and exports.

Overall, the company believes it has the right growth strategy in place and look forward to the opportunities ahead for the company in fiscal 2015.

For the first quarter of fiscal 2015, Cal-Maine Foods will pay a cash dividend of approximately $0.381 per share to holders of its common and Class A common stock. The dividend is payable November 13, 2014, to shareholders of record on October 29, 2014.