On Monday, egg producer Cal-Maine Foods Inc (CALM) reported a net loss due to a one time charge for its fourth quarter.
The Jackson, MS-based company reported a fourth quarter net loss of $3.8 million, or 16 cents per share, compared to net income of $37.3 million, or $1.56 per share, a year ago. The quarter’s results included a $17 million, or 71 cents, per share charge. Excluding special items, earnings were $13.2 million, or 55 cents per share.
Revenue for the quarter was $325.9 million, up from $275.2 million a year ago. The company reported that the quarter was 13 weeks, compared to 14 weeks a year ago.
CEO Dolph Baker noted that the company is “cautiously optimistic about the yield of this year’s corn and soybean crops which could provide some relief to our feed costs in fiscal 2014.”
Cal-Maine Foods shares were mostly flat during pre-market trading Monday. The stock is up 27% YTD.
The Bottom Line
Shares of Cal-Maine Foods Inc (CALM) have a 3.31% yield based on Friday’s closing price of $51.05.
Cal-Maine Foods Inc (CALM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.