In earnings news, Cal-Maine Foods Inc.
(CALM:
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announced that its second-quzarter profit fell 32% to $27.2 million, or $1.14 per share, from its year-ago profit of $40.2 million, or $1.69 per share. Sales in the quarter ended Nov. 29 rose 6.5% to $238.3 million. According to Thomson Financial, analysts were expecting a profit of $1.26 per share.
The egg supplier said the results reflect a strong demand for eggs at the retail level, but a declining demand from the food service sector. It added that it expects to pay a dividend for the quarter of around 38.2 cents a share.
For a closer look at CALM, please check out Colleen's blog entry from Friday.
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