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Cal-Maine Foods fiscal Q1 profit climbs YOY

Cal-Maine Foods Inc. said its normalized net income for the fiscal first quarter ended Aug. 30 was 53 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS rose year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $25.6 million, a gain from $8.5 million in the year-earlier period.

The normalized profit margin climbed to 7.2% from 2.7% in the year-earlier period.

Total revenue grew 11.7% year over year to $356.9 million from $319.5 million, and total operating expenses increased from the prior-year period to $315.8 million from $308.5 million.

Reported net income grew from the prior-year period to $27.6 million, or 57 cents per share, from $8.7 million, or 18 cents per share.