Cal-Maine Foods Reports Third Quarter Fiscal 2019 Results and Announces Expansion Projects
Cal-Maine Foods, Inc. (NASDAQ: CALM) today reported results for the third quarter (thirteen weeks) ended March 2, 2019.
Net sales for the third quarter of fiscal 2019 were $384.0 million, an 11.9 percent decrease, compared to $435.8 million for the third quarter of fiscal 2018. The Company reported net income of $39.8 million, or $0.82 per basic and diluted share, for the third quarter of fiscal 2019, compared to net income of $96.3 million, or $1.99 per basic and diluted share, for the third quarter of fiscal 2018. Results for the third quarter of fiscal 2018 were favorably affected by a $35.0 million, or $0.72 per basic and diluted share, discrete tax benefit related to the Tax Cuts and Jobs Act (TCJA) tax reform legislation enacted during the period, and the subsequent revaluation of the Company’s deferred tax liabilities at the new, lower corporate tax rate.
For the thirty-nine weeks ended March 2, 2019, net sales were $1,080.6 million compared to $1,059.8 million for the prior-year period. The Company reported net income of ...
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