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Cal-Maine Foods fiscal Q4 profit climbs 40.6% YOY

Cal-Maine Foods Inc. said its normalized net income for the fiscal fourth quarter ended May 30 was 91 cents per share, compared with the S&P Capital IQ consensus estimate of $1.04 per share.

EPS climbed 40.4% year over year from 65 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $44.3 million, an increase of 40.6% from $31.5 million in the year-earlier period.

The normalized profit margin increased to 10.9% from 8.5% in the year-earlier period.

Total revenue climbed 8.5% year over year to $403.0 million from $371.6 million, and total operating expenses grew from the prior-year period to $336.4 million from $321.9 million.

Reported net income rose 46.8% year over year to $46.1 million, or 95 cents per share, from $31.4 million, or 65 cents per share.

For the year, the company's normalized net income totaled $3.16 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.42.

EPS rose 51.6% from $2.09 in the prior year.

Normalized net income was $153.2 million, an increase of 52.0% from $100.8 million in the prior year.

Full-year total revenue increased 9.4% year over year to $1.58 billion from $1.44 billion, and total operating expenses increased on an annual basis to $1.34 billion from $1.29 billion.

The company said reported net income grew 47.8% on an annual basis to $161.3 million, or $3.33 per share, in the full year, from $109.2 million, or $2.26 per share.