Delaware | 000-04892 | 64-0500378 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
CAL-MAINE FOODS, INC. | ||
Date: March 27, 2017 | By: | /s/ Timothy A. Dawson |
Timothy A. Dawson Director, Vice President, and Chief Financial Officer |
Contacts: | Dolph Baker, Chairman, President and CEO | ||
Timothy A. Dawson, Vice President and CFO | |||
(601) 948-6813 |
13 Weeks Ended | 39 Weeks Ended | ||||||||||||
February 25, 2017 | February 27, 2016 | February 25, 2017 | February 27, 2016 | ||||||||||
Dozen Eggs Sold (000) | 263,613 | 277,574 | 758,114 | 800,520 | |||||||||
Dozen Eggs Produced (000) | 222,492 | 213,285 | 633,246 | 620,356 | |||||||||
% Specialty Sales (dozen)* | 23.6 | % | 23.6 | % | 23.0 | % | 22.8 | % | |||||
% Specialty Sales (dollars)* | 40.8 | % | 31.0 | % | 44.1 | % | 27.0 | % | |||||
Net Average Selling Price (dozen) | $ | 1.130 | $ | 1.568 | $ | 1.020 | $ | 1.919 | |||||
Net Average Selling Price Specialty Eggs (dozen) | $ | 1.965 | $ | 2.073 | $ | 1.980 | $ | 2.279 | |||||
Feed Cost (dozen) | $ | 0.396 | $ | 0.414 | $ | 0.406 | $ | 0.420 |
13 Weeks Ended | 39 Weeks Ended | |||||||||||||||
February 25, 2017 | February 27, 2016 | February 25, 2017 | February 27, 2016 | |||||||||||||
Net sales | $ | 306,540 | $ | 449,760 | $ | 799,929 | $ | 1,605,630 | ||||||||
Gross profit | 39,165 | 132,726 | 33,544 | 607,394 | ||||||||||||
Operating income (loss) | (4,573) | 85,771 | (92,441) | 472,038 | ||||||||||||
Other income | 8,738 | 11,744 | 11,298 | 14,143 | ||||||||||||
Income (loss) before income taxes and noncontrolling interest | 4,165 | 97,515 | (81,143) | 486,181 | ||||||||||||
Income (loss) before income taxes attributable to Cal-Maine Foods, Inc. | 4,173 | 97,337 | (81,134) | 484,256 | ||||||||||||
Net income (loss) | $ | 4,139 | $ | 64,164 | $ | (49,807 | ) | $ | 316,417 | |||||||
Net income (loss) per share: | ||||||||||||||||
Basic | $ | 0.09 | $ | 1.33 | $ | (1.03 | ) | $ | 6.57 | |||||||
Diluted | $ | 0.09 | $ | 1.33 | $ | (1.03 | ) | $ | 6.54 | |||||||
Weighted average shares outstanding | ||||||||||||||||
Basic | 48,286 | 48,204 | 48,285 | 48,177 | ||||||||||||
Diluted | 48,417 | 48,367 | 48,285 | 48,359 |
February 25, 2017 | May 28, 2016 | |||||||
ASSETS | ||||||||
Cash and short-term investments | $ | 189,575 | $ | 389,545 | ||||
Receivables | 79,179 | 67,448 | ||||||
Income tax receivable | 49,919 | 11,830 | ||||||
Inventories | 163,818 | 154,799 | ||||||
Prepaid expenses and other current assets | 2,310 | 2,661 | ||||||
Current assets | 484,801 | 626,283 | ||||||
Property, plant and equipment (net) | 461,378 | 392,274 | ||||||
Other noncurrent assets | 139,096 | 93,208 | ||||||
Total assets | $ | 1,085,275 | $ | 1,111,765 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Accounts payable and accrued expenses | $ | 77,128 | $ | 67,131 | ||||
Current maturities of long-term debt | 15,449 | 16,320 | ||||||
Current liabilities | 92,577 | 83,451 | ||||||
Long-term debt, less current maturities | 7,302 | 9,250 | ||||||
Deferred income taxes and other liabilities | 117,034 | 101,703 | ||||||
Stockholders' equity | 868,362 | 917,361 | ||||||
Total liabilities and stockholders' equity | $ | 1,085,275 | $ | 1,111,765 |
K?LG)SFLR6O].QVUQKK>8]EV0&^DSZ7Z3W;*?\/Z2Y3_ !>_XONB
MY/2.E?6#*&0SJ-=IOV[MK-U-]GH34YF[;MJK_.6?D9%G2^F=<^I^9TO(S.N=
M6R[;<6P,W,O;86NHSO6W.=^@V.N^A^CL_G/3_6?22GT+ZP?7+ZO?5VRFGJF3
MZ=UXW,J8UUC]D[?5>VL.V5[OWOYS])Z6_P!-Z74/KE]7>G](HZS?EM=A9<#&
M?6"]UA()VLK:-[7,V_I?4V>D_P#1V_I%QGK.^H_7WY77\6W/QL[IN+AU9E#?
M5BRBJNC(PR+O3;^N6T.N^E_HO^&]*E3T_/\ JYTOZK=:ZMT^RS"Z=DYEV3B[
M=[\9F5L^Q.=6_=L]%]?VG])L]+(].JSTLA)3U'1/KQB974?K'G9&>U_0.GMP
MWXENS:&"ZM_K#2MN38]^0W9Z=F^SU/T=:Z#H/UCZ3]8<9^3TNUUK*G^G:',<
MQS71NVN%C6_F_N+SJM^'U2OZZY.3TW-QL'-=@6C'HJ_6(!LN^V>DX;/?M^WY
M'\BS^=_PBT/J[]<<[I'1 K?LG)SFLR6O].QVUQKK>8]EV0&^DSZ7Z3W;*?\/Z2Y3_ !>_XONB
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M'\BS^=_PBT/J[]<<[I'1 G)E4WI.5&-Z:V,Y9"(_/B \>#IX;7!M971A('AM;&YS.G@](F%D;V)E
M.FYS.FUE=&$O(B!X.GAM<'1K/2)!9&]B92!835 @0V]R92 T+C$M8S S-B T
M-BXR-S8W,C L($UO;B!&96(@,3D@,C P-R R,CHQ,SHT,R @(" @(" @(CX@
M/')D9CI21$8@>&UL;G,Z D!\@'Z @,"# (4
M AT")@(O C@"00)+ E0"70)G G$">@*$ HX"F *B JP"M@+! LL"U0+@ NL"
M]0, PL#%@,A RT#. -# T\#6@-F W(#?@.* Y8#H@.N [H#QP/3 ^ #[ /Y
M! 8$$P0@!"T$.P1(!%4$8P1Q!'X$C 2:!*@$M@3$!-,$X03P!/X%#044%]@8&!A8&)P8W!D@&609J!GL&C :=
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M:AZ4'KX>Z1\3'SX?:1^4'[\?ZB 5($$@;""8(,0@\"$<
M(4@A=2&A( &YXS'DJ>8EYYWI&>J5[!'MC>\)\
M(7R!?.%]07VA?@%^8G["?R-_A'_E@$> J($*@6N!S8(P@I*"](-7@[J$'82
MA..%1X6KA@Z& 7]I/WI:2^X?+UK7#IX;7!M971A/B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(#P_>'!A8VME
M="!E;F0](G0 9&5S8P 2 5A96B $P)5@!0 5Q_G;65A
7MFMS+N5U($0>0\V9CY(
MB@N[?A52?+HGY@WW;>6=FW#?=WG$>WVT9=SYGR55'FSL0J+YL0//KYH/SA^8
M/8GSD^1.\^^>PI):1_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z]
M[]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7
MNO>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z _Y(?(/K?XL=)]@=\=L
M988K9?7V#FRE6L90Y'-9*1DI,%MC!P2,BU>?W-F)X**CC)5#/.ID9(P[J(>5
M>6=UYQW_ &SES98==_