Delaware | 000-04892 | 64-0500378 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
CAL-MAINE FOODS, INC. | |||
Date: | October 1, 2018 | By: | /s/ Timothy A. Dawson |
Timothy A. Dawson Director, Vice President, and Chief Financial Officer |
Contacts: | Dolph Baker, Chairman and CEO | ||
Timothy A. Dawson, Vice President and CFO | |||
(601) 948-6813 |
13 Weeks Ended | |||||||
September 1, 2018 | September 2, 2017 | ||||||
Dozen Eggs Sold (000) | 250,060 | 249,464 | |||||
Dozen Eggs Produced (000) | 209,212 | 213,570 | |||||
% Specialty Sales (dozen)* | 23.8 | % | 21.7 | % | |||
% Specialty Sales (dollars)* | 34.2 | % | 39.6 | % | |||
Net Average Selling Price (per dozen) | $ | 1.307 | $ | 1.017 | |||
Net Average Selling Price Specialty Eggs (per dozen)* | $ | 1.890 | $ | 1.878 | |||
Feed Cost (per dozen) | $ | 0.413 | $ | 0.375 |
13 Weeks Ended | ||||||||
September 1, 2018 | September 2, 2017 | |||||||
Net sales | $ | 340,583 | $ | 262,845 | ||||
Cost of sales | 283,455 | 245,509 | ||||||
Gross profit | 57,128 | 17,336 | ||||||
Selling, general, and administrative expense | 44,510 | 41,710 | ||||||
(Gain) loss on disposal of fixed assets | (59 | ) | 4 | |||||
Operating income (loss) | 12,677 | (24,378 | ) | |||||
Other income (expense), net | 3,816 | (139 | ) | |||||
Income (loss) before income taxes and noncontrolling interest | 16,493 | (24,517 | ) | |||||
Income tax (benefit) expense | 3,750 | (8,340 | ) | |||||
Net income (loss) before noncontrolling interest | 12,743 | (16,177 | ) | |||||
Less: Net income (loss) attributable to noncontrolling interest | 338 | (184 | ) | |||||
Net income (loss) attributable to Cal-Maine Foods, Inc. | $ | 12,405 | $ | (15,993 | ) | |||
Net income (loss) per share: | ||||||||
Basic | $ | 0.26 | $ | (0.33 | ) | |||
Diluted | $ | 0.26 | $ | (0.33 | ) | |||
Weighted average shares outstanding | ||||||||
Basic | 48,390 | 48,330 | ||||||
Diluted | 48,516 | 48,330 |
September 1, 2018 | June 2, 2018 | |||||||
ASSETS | ||||||||
Cash and short-term investments | $ | 321,412 | $ | 331,017 | ||||
Receivables, net | 94,548 | 85,839 | ||||||
Inventories | 171,144 | 168,644 | ||||||
Prepaid expenses and other current assets | 4,116 | 2,020 | ||||||
Current assets | 591,220 | 587,520 | ||||||
Property, plant and equipment (net) | 421,717 | 425,384 | ||||||
Other noncurrent assets | 139,158 | 137,543 | ||||||
Total assets | $ | 1,152,095 | $ | 1,150,447 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Accounts payable and accrued expenses | $ | 93,208 | $ | 87,209 | ||||
Accrued dividends payable | 4,135 | 17,093 | ||||||
Current maturities of long-term debt and capital lease obligations | 3,271 | 3,536 | ||||||
Current liabilities | 100,614 | 107,838 | ||||||
Long-term debt and capital lease obligations, less current maturities | 1,496 | 2,554 | ||||||
Deferred income taxes and other liabilities | 84,421 | 84,373 | ||||||
Stockholders' equity | 965,564 | 955,682 | ||||||
Total liabilities and stockholders' equity | $ | 1,152,095 | $ | 1,150,447 |
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