Cal-Maine Foods Q2 Net Income Jumps 83%

Cal-Maine Foods said Monday that its fiscal-second-quarter net income jumped 83% on higher demand for its eggs.

Cal-Maine, which is based in Jackson, Miss., said its acquisition last year of egg producer Maxim Production Co. helped boost its results. In the second quarter, dozens of eggs sold rose 6% to 252.8 million from 238.1 million a year ago.

The company also said specialty eggs, which cost more than regular ones, have become more popular with customers. Besides conventional eggs, Cal-Maine also produces cage-free, organic and nutritionally enhanced eggs.

Net income rose to $26.1 million, or $1.08 per share, for the quarter ending Nov. 30. That compares with $14.3 million, or $0.60 per share, a year earlier. Revenue rose 8% to $354.3 million in the second quarter from $328.9 million from a year ago.

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