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.
The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.