Shell egg market hampers Cal-Maine financial results

Company reports 60% year-over-year decline in net sales.

Cal-Maine Foods Inc. reported that net sales for its first quarter of fiscal 2017 were $239.8 million, a 60.7% decrease compared to $609.9 million for the first quarter of fiscal 2016. The company also reported a net loss of $30.9 million, or 64 cents per basic and diluted share, for the first quarter of fiscal 2017, compared to net income of $143.0 million, or $2.97 per basic share and $2.95 per diluted share, for the first quarter of fiscal 2016.

“Our results for the first quarte

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