-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LdvBSXbcVDrq3yKi88dNq5nfLW/aIesllyAVP2BGiqteB+B0ISYUoKjzrlAcLV8J l30jQi9rU4PRv8rXhiiBng== 0000016104-08-000027.txt : 20080805 0000016104-08-000027.hdr.sgml : 20080805 20080805164616 ACCESSION NUMBER: 0000016104-08-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080628 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080805 DATE AS OF CHANGE: 20080805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAGLES INC CENTRAL INDEX KEY: 0000016104 STANDARD INDUSTRIAL CLASSIFICATION: POULTRY SLAUGHTERING AND PROCESSING [2015] IRS NUMBER: 580625713 STATE OF INCORPORATION: GA FISCAL YEAR END: 0329 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07138 FILM NUMBER: 08991919 BUSINESS ADDRESS: STREET 1: 2000 HILLS AVE NW CITY: ATLANTA STATE: GA ZIP: 30318 BUSINESS PHONE: 4043552820 MAIL ADDRESS: STREET 1: 2000 HILLS AVE NW CITY: ATLANTA STATE: GA ZIP: 30318 8-K 1 k8form1st09pr.htm 8K-PRESS RELEASE 06/28/08 SECURITIES AND EXCHANGE COMMISSION

                                               SECURITIES AND EXCHANGE COMMISSION

                                                                 Washington, D.C. 20549


                                                                           FORM 8-K


                                                                  CURRENT REPORT

                            Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                                   Date of Report (Date of earliest event reported): August 5, 2008


                                                                           Cagle's, Inc.

                                                                (Exact name of registrant as specified in its charter)


                      Georgia                                            1-7138                                        58-0625713

                    (State or other jurisdiction                                   (Commission                                              (I.R.S. Employer

                          of incorporation)                                              File Number)                                             Identification No.)

  

                                           2000 Hills Avenue, N.W., Atlanta, Ga.            30318   

                                                          (Address of principal executive offices)                      (Zip Code)


                                                                        (404) 355-2820

                                                               (Registrants telephone number, including area code)


                                                                         Not applicable

                                                        (Former name or former address, if changed since last report)


Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


(   )  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


(   )  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


(   )  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


(   )  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


==========================================================================





TABLE OF CONTENTS

 

EXHIBIT INDEX

Ex-99.1 Press Release dated August 5, 2008

SIGNATURES

---------------------------------------------------------------------------


Table of Contents



The following exhibits are filed with this Report:


              

Exhibit No.

   Description

99.1           Press release of Cagle's, Inc. dated August 5, 2008

              

--------------------------------------------------------------------------



SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the

registrant has duly caused this report to be signed on its behalf by the

undersigned hereunto duly authorized.


Cagle's, Inc.

(Registrant)           

      

Date: August 5, 2008


By:   /s/  Mark M. Ham IV     

 Mark M. Ham IV  

 Chief Financial Officer    

 





EX-99 2 prfirstqtr2009f.htm EXHIBIT 99-PRESS RELEASE 06/28/08 Atlanta, Georgia

 

Atlanta, Georgia

August 05, 2008

 

 

PRESS RELEASE

FOR IMMEDIATE RELEASE

Cagle's Inc. Announces Results for First Quarter Ended June 28, 2008

 

 

 

Cagle’s Inc. reported a loss of $2.99 million or $.64 per diluted share for the first quarter of fiscal year 2009 compared with a profit of $1.53 million or $.33 per diluted share for the first quarter of fiscal 2008.  

 

Revenues for the first quarter were $77.9 million up 7.04% as a result of 13% additional pounds marketed compared to the first quarter of last year. Overall revenue per pound for poultry products for the first quarter of fiscal 2009 was $.73 as compared to $.78 for the same period of fiscal 2008. Quoted market prices for products for the first quarter of fiscal 2009 versus the same period last year fluctuated as boneless breast decreased 12%, breast tenders decreased 22%, wings decreased 26%, drums increased 9%, leg quarters were 2% higher and whole birds without giblets decreased 2%.

 

Cost of sales for the first quarter of fiscal 2009 increased 18.1% as compared with the same period last year, from $65.7 million to $77.6 million. Feed ingredient prices for broilers processed in the first quarter of 2009, which represented 39% of the total cost of sales, increased 43% as compared to the first quarter of 2008.

 

High grain cost are expected to continue to negatively impact operating margins for the third quarter as the company endeavors to increase pricing to enable a return to profitability.

 

 

 

Cagle's Inc.

 

/s/ J. Douglas Cagle

 

J. Douglas Cagle

Chairman, CEO

 

 

 

 

 

 

 

Forward-Looking Statements:

Statements contained in this press release that state the intentions, hopes, beliefs, anticipations, expectations or predictions of the future of Cagle's Inc. and its management are forward looking statements. It is important to note that the actual results could differ materially from those projected. Factors that could cause actual results to differ materially from those project in such forward-looking statements include: additional outbreaks of avian influenza or other diseases affecting the production performance and/or marketability of the Company’s poultry products; matters affecting the poultry industry in general, including fluctuations in the commodity prices of feed ingredients and chicken; contamination of our products leading to product liability claims and recalls; exposures to risks related to property damage and injuries to persons for which insurance is limited and potentially inadequate; management of our cash resources, particularly in light of our substantial leverage; trade barriers; changes in laws or regulations affecting our operations as well as competitive factors and pricing pressures; and the impact of uncertainties of litigations as well as other risk factors.


 

 

 

 

Cagle's Inc.

Condensed Consolidated Balance Sheet

(In Thousands)

 

 

 

 

 

 

 

ASSETS                                                      

 

June 28, 2008

 

March 29, 2008

 

 

 

 

 

 

 

Current Assets

 

$

                   49,061

 

$

                  46,420

 

 

 

 

 

 

 

Other Assets

 

 

                     6,520

 

 

                    6,294

 

 

 

 

 

 

 

Property, Plant, and Equipment (net)

 

 

                   38,912

 

 

                  39,260

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

                   94,493

 

$

                  91,974

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES & STOCKHOLDER'S EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Maturities of Long-term Debt

 

$

                     2,346

 

$

                    2,269

Trade Accounts Payable

 

 

                   18,924

 

 

                  16,025

Other Current Liabilities

 

 

                     7,112

 

 

                    7,929

Total Current Liabilities

 

 

                   28,382

 

 

                  26,223

 

 

 

 

 

 

 

Long-Term Debt

 

 

                   23,060

 

 

                  20,924

 

 

 

 

 

 

 

Total Stockholders Equity

 

 

                   43,051

 

 

                  44,827

 

 

 

 

 

 

 

TOTAL LIABILITIES & STOCKHOLDERS EQUITY

 

$

                   94,493

 

$

                  91,974

 


 

 

 

 

Cagle's, Inc. & Subsidiary

Consolidated Statements of Income

(In Thousands, except per share data)

 

 

 

 

 

 

 

Three Months Ended

 

June 28,

 

June 30,

 

2008

 

2007

Net Sales

$

76,921

 

$

71,862

Costs and Expenses:

 

 

 

 

 

Cost of Sales

 

77,577

 

 

65,660

Selling & Delivery and General & Administrative

 

2,332

 

 

3,486

General and Administrative

 

1,192

 

 

(28)

Other General Expenses

 

0

 

 

0

Total Costs and Expenses

 

81,101

 

 

69,118

 

 

 

 

 

 

Operating Income (Loss)

 

(4,180)

 

 

2,744

 

 

 

 

 

 

Other Income(Expense):

 

 

 

 

 

Interest Expense

 

(489)

 

 

(368)

Other Income, Net

 

(12)

 

 

23

Total Other Income (Expense),net

 

(501)

 

 

(345)

 

 

 

 

 

 

Income Before Income Taxes

 

(4,681)

 

 

2,399

 

 

 

 

 

 

Income Taxes Provision

 

(1,685)

 

 

863

Net Income

$

(2,996)

 

$

1,536

Net Income Per Common Share

$

(0.64)

 

$

0.33

 

 

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