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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cal Maine Foods Inc | NASDAQ:CALM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.66 | 56.65 | 56.95 | 2 | 09:15:51 |
Delaware
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64-0500378
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(State or other jurisdiction of incorporation or organization)
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(I.R.S Employer Identification No.)
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Page Number
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Part I.
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Item 1.
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Item 2.
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Item 3.
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Item 4.
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Part II.
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Item 1.
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Item 1A.
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Item 2.
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Item 6.
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September 2, 2017
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June 3, 2017
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(unaudited)
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ASSETS
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Current assets:
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Cash and cash equivalents
|
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$
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18,943
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$
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17,564
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Investment securities available-for-sale
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107,028
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138,462
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Trade and other receivables (less allowance for doubtful accounts of
|
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$435 and $386 at September 2, 2017 and June 3, 2017, respectively)
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75,626
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64,509
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Income tax receivable
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55,970
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52,691
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Inventories
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159,226
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160,692
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Prepaid expenses and other current assets
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3,753
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2,288
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Total current assets
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420,546
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436,206
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Property, plant and equipment, net
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452,099
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458,184
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Other investments
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69,435
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69,296
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Goodwill
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35,525
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35,525
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|
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Other intangible assets, net
|
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28,590
|
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29,149
|
|
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Other assets
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4,833
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4,734
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TOTAL ASSETS
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$
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1,011,028
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$
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1,033,094
|
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities:
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Accounts payable and accrued expenses
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$
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58,386
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$
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59,853
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Current maturities of long-term debt
|
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4,683
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4,826
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Total current liabilities
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63,069
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64,679
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Long-term debt, less current maturities
|
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5,048
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|
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6,113
|
|
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Other noncurrent liabilities
|
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7,565
|
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7,527
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|
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Deferred income taxes
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|
105,881
|
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110,282
|
|
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Total liabilities
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181,563
|
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188,601
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Commitments and Contingencies - see Note 4
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Stockholders’ equity:
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Common stock, $0.01 par value, 120,000 and 70,261 shares authorized and issued
|
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at September 2, 2017 and June 3, 2017, respectively, and 43,773 and 43,777
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shares outstanding at September 2, 2017 and June 3, 2017, respectively
|
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703
|
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703
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Class A convertible common stock, $.01 par value, 4,800 shares authorized, issued
|
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and outstanding at September 2, 2017 and June 3, 2017, respectively
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48
|
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48
|
|
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Paid-in capital
|
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50,792
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49,932
|
|
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Retained earnings
|
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800,053
|
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816,046
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Accumulated other comprehensive loss, net of tax
|
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(96
|
)
|
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(128
|
)
|
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Common stock in treasury at cost – 26,488 and 26,484 shares at September 3, 2017
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and June 3, 2017, respectively
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(23,936
|
)
|
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(23,914
|
)
|
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Total Cal-Maine Foods, Inc. stockholders’ equity
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827,564
|
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842,687
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Noncontrolling interest in consolidated entities
|
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1,901
|
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|
1,806
|
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Total stockholders’ equity
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829,465
|
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|
844,493
|
|
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|
$
|
1,011,028
|
|
|
$
|
1,033,094
|
|
|
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13 Weeks Ended
|
||||||
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September 2, 2017
|
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August 27, 2016
|
||||
Net sales
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$
|
262,845
|
|
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$
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239,845
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Cost of sales
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245,509
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249,414
|
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Gross profit (loss)
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17,336
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(9,569
|
)
|
||
Selling, general, and administrative expense
|
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41,710
|
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40,256
|
|
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Loss on disposal of fixed assets
|
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4
|
|
|
525
|
|
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Operating loss
|
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(24,378
|
)
|
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(50,350
|
)
|
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Other income (expense):
|
|
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|
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Interest income, net
|
|
474
|
|
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1,091
|
|
||
Royalty income
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278
|
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|
406
|
|
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Equity in income (loss) of affiliates
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(353
|
)
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191
|
|
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Other, net
|
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(538
|
)
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122
|
|
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Total other income (loss)
|
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(139
|
)
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1,810
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|
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Loss before income taxes and noncontrolling interest
|
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(24,517
|
)
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(48,540
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)
|
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Income tax benefit
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8,340
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17,560
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Net loss before noncontrolling interest
|
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(16,177
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)
|
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(30,980
|
)
|
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Less: Net loss attributable to noncontrolling interest
|
|
(184
|
)
|
|
(44
|
)
|
||
Net loss attributable to Cal-Maine Foods, Inc.
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|
$
|
(15,993
|
)
|
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$
|
(30,936
|
)
|
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|
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|
||||
Net loss per common share attributable to Cal-Maine Foods, Inc.:
|
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Basic
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$
|
(0.33
|
)
|
|
$
|
(0.64
|
)
|
Diluted
|
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$
|
(0.33
|
)
|
|
$
|
(0.64
|
)
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
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Basic
|
|
48,330
|
|
|
48,249
|
|
||
Diluted
|
|
48,330
|
|
|
48,249
|
|
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13 Weeks Ended
|
||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||||
Net loss, including noncontrolling interests
|
|
$
|
(16,177
|
)
|
|
$
|
(30,980
|
)
|
|
|
|
|
|
|
|
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Other comprehensive income (loss), before tax:
|
|
|
|
|
|
|
||
|
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|
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|
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|
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Unrealized holding gain on available-for-sale securities, net of reclassification adjustments
|
|
51
|
|
|
502
|
|
||
|
|
|
|
|
|
|
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Income tax expense related to items of other comprehensive income
|
|
(19
|
)
|
|
(191
|
)
|
||
|
|
|
|
|
|
|
||
Other comprehensive gain, net of tax
|
|
32
|
|
|
311
|
|
||
|
|
|
|
|
|
|
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Comprehensive loss
|
|
(16,145
|
)
|
|
(30,669
|
)
|
||
|
|
|
|
|
|
|
||
Less: comprehensive loss attributable to the noncontrolling interest
|
|
(184
|
)
|
|
(44
|
)
|
||
|
|
|
|
|
|
|
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Comprehensive loss attributable to Cal-Maine Foods, Inc.
|
|
$
|
(15,961
|
)
|
|
$
|
(30,625
|
)
|
|
|
13 Weeks Ended
|
||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||||
Operating activities:
|
|
|
|
|
||||
Net loss including noncontrolling interest
|
|
$
|
(16,177
|
)
|
|
$
|
(30,980
|
)
|
Depreciation and amortization
|
|
13,137
|
|
|
11,159
|
|
||
Other adjustments, net
|
|
(18,447
|
)
|
|
(25,626
|
)
|
||
Net cash used in operations
|
|
(21,487
|
)
|
|
(45,447
|
)
|
||
|
|
|
|
|
|
|
||
Investing activities:
|
|
|
|
|
|
|
||
Purchase of investments
|
|
(2,653
|
)
|
|
(9,008
|
)
|
||
Sales of investments
|
|
34,104
|
|
|
92,833
|
|
||
Investment in joint ventures
|
|
(1,200
|
)
|
|
(5,500
|
)
|
||
Purchases of property, plant and equipment
|
|
(6,517
|
)
|
|
(23,895
|
)
|
||
Payments received on notes receivable and from affiliates
|
|
8
|
|
|
1,250
|
|
||
Net proceeds from disposal of property, plant and equipment
|
|
74
|
|
|
10
|
|
||
Net cash provided by investing activities
|
|
23,816
|
|
|
55,690
|
|
||
|
|
|
|
|
|
|
||
Financing activities:
|
|
|
|
|
|
|
||
Purchase of common stock by treasury
|
|
(21
|
)
|
|
(40
|
)
|
||
Contributions from (distributions to) noncontrolling interests
|
|
279
|
|
|
(73
|
)
|
||
Principal payments on long-term debt
|
|
(1,208
|
)
|
|
(1,530
|
)
|
||
Net cash used in financing activities
|
|
(950
|
)
|
|
(1,643
|
)
|
||
Net change in cash and cash equivalents
|
|
1,379
|
|
|
8,600
|
|
||
|
|
|
|
|
|
|
||
Cash and cash equivalents at beginning of period
|
|
17,564
|
|
|
29,046
|
|
||
Cash and cash equivalents at end of period
|
|
$
|
18,943
|
|
|
$
|
37,646
|
|
|
|
Number of Shares
|
|
Weighted Average Grant Date Fair Value
|
|||
Outstanding, June 3, 2017
|
|
247,735
|
|
|
$
|
42.76
|
|
Granted
|
|
—
|
|
|
—
|
|
|
Vested
|
|
(1,750
|
)
|
|
42.10
|
|
|
Forfeited
|
|
(2,835
|
)
|
|
42.94
|
|
|
Outstanding, September 2, 2017
|
|
243,150
|
|
|
$
|
42.76
|
|
|
|
September 2, 2017
|
|
June 3, 2017
|
||||
Flocks
|
|
$
|
97,108
|
|
|
$
|
98,059
|
|
Eggs and egg products
|
|
14,697
|
|
|
14,911
|
|
||
Feed and supplies
|
|
47,421
|
|
|
47,722
|
|
||
|
|
$
|
159,226
|
|
|
$
|
160,692
|
|
|
|
13 Weeks Ended
|
||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||||
Net loss attributable to Cal-Maine Foods, Inc.
|
|
$
|
(15,993
|
)
|
|
$
|
(30,936
|
)
|
|
|
|
|
|
|
|
||
Basic weighted-average common shares
|
|
48,330
|
|
|
48,249
|
|
||
Effect of dilutive securities:
|
|
|
|
|
|
|
||
Restricted shares
|
|
—
|
|
|
—
|
|
||
Dilutive potential common shares
|
|
48,330
|
|
|
48,249
|
|
||
|
|
|
|
|
|
|
||
Net loss per common share attributable to Cal-Maine Foods, Inc.:
|
|
|
|
|
|
|
||
Basic
|
|
$
|
(0.33
|
)
|
|
$
|
(0.64
|
)
|
Diluted
|
|
$
|
(0.33
|
)
|
|
$
|
(0.64
|
)
|
•
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Level 1 - Quoted prices in active markets for identical assets or liabilities
|
•
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Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly
|
•
|
Level 3 - Unobservable inputs for the asset or liability that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities
|
|
|
September 2, 2017
|
|
June 3, 2017
|
||||||||||||
|
|
Carrying Value
|
|
Fair Value
|
|
Carrying Value
|
|
Fair Value
|
||||||||
5.4% – 6.2% Notes payable
|
|
$
|
8,125
|
|
|
$
|
8,161
|
|
|
$
|
9,250
|
|
|
$
|
9,295
|
|
Long-term leases
|
|
1,606
|
|
|
1,445
|
|
|
1,689
|
|
|
1,520
|
|
||||
|
|
$
|
9,731
|
|
|
$
|
9,606
|
|
|
$
|
10,939
|
|
|
$
|
10,815
|
|
|
|
|
|
|
|
|
|
Total
|
|||||||
September 2, 2017
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Balance
|
|||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
US government and agency obligations
|
|
—
|
|
|
$
|
20,872
|
|
|
—
|
|
|
$
|
20,872
|
|
|
Municipal bonds
|
|
—
|
|
|
29,100
|
|
|
—
|
|
|
29,100
|
|
|||
Corporate bonds
|
|
—
|
|
|
53,976
|
|
|
—
|
|
|
53,976
|
|
|||
Asset backed securities
|
|
—
|
|
|
3,080
|
|
|
—
|
|
|
3,080
|
|
|||
Mutual funds
|
|
2,509
|
|
|
—
|
|
|
—
|
|
|
2,509
|
|
|||
Total assets measured at fair value
|
|
$
|
2,509
|
|
|
$
|
107,028
|
|
|
—
|
|
|
$
|
109,537
|
|
|
|
|
|
|
|
|
|
Total
|
||||||||
June 3, 2017
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Balance
|
||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
US government and agency obligations
|
|
$
|
—
|
|
|
$
|
20,216
|
|
|
$
|
—
|
|
|
$
|
20,216
|
|
Municipal bonds
|
|
—
|
|
|
36,873
|
|
|
—
|
|
|
36,873
|
|
||||
Corporate bonds
|
|
—
|
|
|
75,790
|
|
|
—
|
|
|
75,790
|
|
||||
Asset backed securities
|
|
—
|
|
|
5,583
|
|
|
—
|
|
|
5,583
|
|
||||
Mutual funds
|
|
2,459
|
|
|
—
|
|
|
—
|
|
|
2,459
|
|
||||
Total assets measured at fair value
|
|
$
|
2,459
|
|
|
$
|
138,462
|
|
|
$
|
—
|
|
|
$
|
140,921
|
|
September 2, 2017
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Estimated Fair Value
|
||||||||
US government and agency obligations
|
|
$
|
20,906
|
|
|
$
|
—
|
|
|
$
|
34
|
|
|
$
|
20,872
|
|
Municipal bonds
|
|
29,069
|
|
|
31
|
|
|
—
|
|
|
29,100
|
|
||||
Corporate bonds
|
|
53,948
|
|
|
28
|
|
|
—
|
|
|
53,976
|
|
||||
Asset backed securities
|
|
3,081
|
|
|
—
|
|
|
1
|
|
|
3,080
|
|
||||
Total current investment securities
|
|
$
|
107,004
|
|
|
$
|
59
|
|
|
$
|
35
|
|
|
$
|
107,028
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Mutual funds
|
|
$
|
1,717
|
|
|
$
|
792
|
|
|
$
|
—
|
|
|
$
|
2,509
|
|
Total noncurrent investment securities
|
|
$
|
1,717
|
|
|
$
|
792
|
|
|
$
|
—
|
|
|
$
|
2,509
|
|
June 3, 2017
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Estimated Fair Value
|
||||||||
US government and agency obligations
|
|
$
|
20,259
|
|
|
$
|
—
|
|
|
$
|
43
|
|
|
$
|
20,216
|
|
Municipal bonds
|
|
36,839
|
|
|
34
|
|
|
—
|
|
|
36,873
|
|
||||
Corporate bonds
|
|
75,769
|
|
|
21
|
|
|
—
|
|
|
75,790
|
|
||||
Asset backed securities
|
|
5,583
|
|
|
—
|
|
|
—
|
|
|
5,583
|
|
||||
Total current investment securities
|
|
$
|
138,450
|
|
|
$
|
55
|
|
|
$
|
43
|
|
|
$
|
138,462
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Mutual funds
|
|
$
|
1,706
|
|
|
$
|
753
|
|
|
$
|
—
|
|
|
$
|
2,459
|
|
Total noncurrent investment securities
|
|
$
|
1,706
|
|
|
$
|
753
|
|
|
$
|
—
|
|
|
$
|
2,459
|
|
|
|
13 Weeks Ended
|
||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||||
Current investments
|
|
$
|
8
|
|
|
$
|
271
|
|
Noncurrent investments
|
|
24
|
|
|
40
|
|
||
Total unrealized holding gains
|
|
$
|
32
|
|
|
$
|
311
|
|
|
|
Estimated Fair Value
|
||
Within one year
|
|
$
|
73,204
|
|
1-5 years
|
|
33,824
|
|
|
Total
|
|
$
|
107,028
|
|
|
|
Cal-Maine Foods, Inc. Stockholders
|
|
|
|
|
||||||||||||||||||||||||||
|
|
Common Stock
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
|
|
|
|
|
Class A
|
|
Treasury
|
|
Paid In
|
|
Accum. Other
|
|
Retained
|
|
Noncontrolling
|
|
|
|||||||||||||||
|
|
Amount
|
|
|
Amount
|
|
Amount
|
|
Capital
|
|
Comp. Income
|
|
Earnings
|
|
Interest
|
|
Total
|
|||||||||||||||
Balance at June 3, 2017
|
|
$
|
703
|
|
|
$
|
48
|
|
|
$
|
(23,914
|
)
|
|
$
|
49,932
|
|
|
$
|
(128
|
)
|
|
$
|
816,046
|
|
|
$
|
1,806
|
|
|
$
|
844,493
|
|
Other comprehensive income, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32
|
|
|
—
|
|
|
—
|
|
|
32
|
|
||||||||
Forfeiture of restricted stock
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Buyback of 519 shares to satisfy withholding obligation in connection with the vesting of restricted stock
|
|
—
|
|
|
—
|
|
|
(21
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(21
|
)
|
||||||||
Contribution from noncontrolling interest partners
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
279
|
|
|
279
|
|
||||||||
Restricted stock compensation
|
|
—
|
|
|
—
|
|
|
—
|
|
|
859
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
859
|
|
||||||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(15,993
|
)
|
|
(184
|
)
|
|
(16,177
|
)
|
||||||||
Balance at September 2, 2017
|
|
$
|
703
|
|
|
$
|
48
|
|
|
$
|
(23,936
|
)
|
|
$
|
50,792
|
|
|
$
|
(96
|
)
|
|
$
|
800,053
|
|
|
$
|
1,901
|
|
|
$
|
829,465
|
|
|
|
13 Weeks Ended
|
||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||
Net sales
|
|
100.0
|
%
|
|
100.0
|
%
|
Cost of sales
|
|
93.4
|
%
|
|
104.0
|
%
|
Gross profit (loss)
|
|
6.6
|
%
|
|
(4.0
|
)%
|
Selling, general, and administrative expense
|
|
15.9
|
%
|
|
16.8
|
%
|
Operating loss
|
|
(9.3
|
)%
|
|
(20.8
|
)%
|
Other income (expense), net
|
|
(0.1
|
)%
|
|
0.8
|
%
|
Loss before income taxes and noncontrolling interest
|
|
(9.4
|
)%
|
|
(20.0
|
)%
|
Income tax benefit
|
|
3.2
|
%
|
|
7.3
|
%
|
Net loss before noncontrolling interest
|
|
(12.6
|
)%
|
|
(27.3
|
)%
|
Less: Net loss attributable to noncontrolling interest
|
|
(0.1
|
)%
|
|
—
|
%
|
Net loss attributable to Cal-Maine Foods, Inc.
|
|
(12.5
|
)%
|
|
(27.3
|
)%
|
|
|
13 Weeks Ended
|
||||||||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
||||||||||
Total net sales
|
|
$
|
262,845
|
|
|
|
|
$
|
239,845
|
|
|
|
||
|
|
|
|
|
|
|
|
|
||||||
Non-specialty shell egg
|
|
$
|
146,048
|
|
|
56.9
|
%
|
|
$
|
113,504
|
|
|
48.4
|
%
|
Specialty shell egg
|
|
101,697
|
|
|
39.6
|
%
|
|
109,312
|
|
|
46.7
|
%
|
||
Co-pack specialty shell egg
|
|
6,080
|
|
|
2.4
|
%
|
|
8,455
|
|
|
3.6
|
%
|
||
Other
|
|
2,884
|
|
|
1.1
|
%
|
|
2,997
|
|
|
1.3
|
%
|
||
Net shell egg sales
|
|
$
|
256,709
|
|
|
100.0
|
%
|
|
$
|
234,268
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
||||||
Net shell egg sales as a percent of total net sales
|
|
98
|
%
|
|
|
|
98
|
%
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||||
Dozens sold:
|
|
|
|
|
|
|
|
|
||||||
Non-specialty shell egg
|
|
192,168
|
|
|
77.0
|
%
|
|
182,730
|
|
|
75.4
|
%
|
||
Specialty shell egg
|
|
54,138
|
|
|
21.7
|
%
|
|
55,399
|
|
|
22.9
|
%
|
||
Co-pack specialty shell egg
|
|
3,158
|
|
|
1.3
|
%
|
|
4,196
|
|
|
1.7
|
%
|
||
Total dozens sold
|
|
249,464
|
|
|
100.0
|
%
|
|
242,325
|
|
|
100.0
|
%
|
||
|
|
|
|
|
|
|
|
|
||||||
Net average selling price per dozen:
|
|
|
|
|
|
|
|
|
||||||
Non-specialty shell eggs
|
|
$
|
0.760
|
|
|
|
|
$
|
0.621
|
|
|
|
||
Specialty shell eggs
|
|
$
|
1.878
|
|
|
|
|
$
|
1.973
|
|
|
|
||
All shell eggs
|
|
$
|
1.017
|
|
|
|
|
$
|
0.952
|
|
|
|
|
|
13 Weeks Ended
|
|||||||||
|
|
September 2, 2017
|
|
August 27, 2016
|
|
Percent Change
|
|||||
Cost of Sales:
|
|
|
|
|
|
|
|||||
Farm production
|
|
144,289
|
|
|
142,871
|
|
|
1.0
|
%
|
||
Processing, packaging, and warehouse
|
|
51,111
|
|
|
46,302
|
|
|
10.4
|
%
|
||
Egg purchases and other (including change in inventory)
|
|
43,780
|
|
|
55,593
|
|
|
(21.2
|
)%
|
||
Total shell eggs
|
|
239,180
|
|
|
244,766
|
|
|
(2.3
|
)%
|
||
Egg products
|
|
6,044
|
|
|
4,299
|
|
|
40.6
|
%
|
||
Other
|
|
285
|
|
|
349
|
|
|
(18.3
|
)%
|
||
Total
|
|
$
|
245,509
|
|
|
$
|
249,414
|
|
|
(1.6
|
)%
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|||||
Farm production cost (per dozen produced)
|
|
|
|
|
|
|
|||||
Feed
|
|
$
|
0.375
|
|
|
$
|
0.431
|
|
|
(13.0
|
)%
|
Other
|
|
$
|
0.306
|
|
|
$
|
0.294
|
|
|
4.1
|
%
|
Total
|
|
$
|
0.681
|
|
|
$
|
0.725
|
|
|
(6.1
|
)%
|
|
|
|
|
|
|
|
|||||
Outside egg purchases (average cost per dozen)
|
|
$
|
0.98
|
|
|
$
|
1.03
|
|
|
(4.9
|
)%
|
|
|
|
|
|
|
|
|||||
Dozen produced
|
|
213,570
|
|
|
198,782
|
|
|
7.4
|
%
|
||
Dozen sold
|
|
249,464
|
|
|
242,325
|
|
|
2.9
|
%
|
|
|
13 Weeks Ended
|
|||||||||||||||||||||
|
|
Actual
|
|
Less: Acquisitions
*
|
|
Net
|
|
|
|
|
|
|
|||||||||||
|
|
September 2, 2017
|
|
September 2, 2017
|
|
September 2, 2017
|
|
August 27, 2016
|
|
$ Change
|
|
% Change
|
|||||||||||
Specialty egg expense
|
|
$
|
11,734
|
|
|
$
|
337
|
|
|
$
|
11,397
|
|
|
$
|
13,057
|
|
|
$
|
(1,660
|
)
|
|
(12.7
|
)%
|
Delivery expense
|
|
13,124
|
|
|
1,016
|
|
|
12,108
|
|
|
12,560
|
|
|
(452
|
)
|
|
(3.6
|
)%
|
|||||
Payroll and overhead
|
|
9,496
|
|
|
724
|
|
|
8,772
|
|
|
8,438
|
|
|
334
|
|
|
4.0
|
%
|
|||||
Stock compensation expense
|
|
859
|
|
|
—
|
|
|
859
|
|
|
848
|
|
|
11
|
|
|
1.3
|
%
|
|||||
Other expenses
|
|
6,497
|
|
|
1,273
|
|
|
5,224
|
|
|
5,353
|
|
|
(129
|
)
|
|
(2.4
|
)%
|
|||||
Total
|
|
$
|
41,710
|
|
|
$
|
3,350
|
|
|
$
|
38,360
|
|
|
$
|
40,256
|
|
|
$
|
(1,896
|
)
|
|
(4.7
|
)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
*
Represents amounts in the first quarter of fiscal 2018 related to our fiscal 2017 acquisitions, Foodonics International, Inc, and Happy Hen Egg Farms, Inc., which were completed after the first quarter of fiscal 2017.
|
Project
|
|
Location
|
|
Projected Completion
|
|
Projected Cost
|
|
Incurred as of September 2, 2017
|
|
Remaining Projected Cost
|
||||||
Cage-Free Layer Houses
|
|
Lake City, FL
|
|
September 2017
|
|
$
|
8,669
|
|
|
$
|
8,614
|
|
|
$
|
55
|
|
Convertible/Cage-Free Layer House with Pullets
|
|
South Texas
|
|
September 2017
|
|
11,641
|
|
|
11,626
|
|
|
15
|
|
|||
Convertible/Cage-Free Layer Houses
|
|
Green Forest, AR
|
|
October 2017
|
|
8,991
|
|
|
8,753
|
|
|
238
|
|
|||
Cage-Free Layer Houses
|
|
South Texas
|
|
November 2017
|
|
4,063
|
|
|
3,904
|
|
|
159
|
|
|||
Convertible/Cage-Free Layer Houses with Pullets
|
|
Guthrie, KY
|
|
January 2018
|
|
13,252
|
|
|
12,194
|
|
|
1,058
|
|
|||
|
|
|
|
|
|
$
|
46,616
|
|
|
$
|
45,091
|
|
|
$
|
1,525
|
|
|
|
|
|
|
|
Total Number of
|
|
Maximum Number
|
|||||
|
|
|
|
|
|
Shares Purchased
|
|
of Shares that
|
|||||
|
|
Total Number
|
|
Average
|
|
as Part of Publicly
|
|
May Yet Be
|
|||||
|
|
of Shares
|
|
Price Paid
|
|
Announced Plans
|
|
Purchased Under the
|
|||||
Period
|
|
Purchased (1)
|
|
per Share
|
|
Or Programs
|
|
Plans or Programs
|
|||||
06/04/17 to 07/01/17
|
|
519
|
|
|
$
|
39.60
|
|
|
—
|
|
|
—
|
|
07/02/17 to 07/29/17
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
07/30/17 to 09/02/17
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
|
|
519
|
|
|
$
|
39.60
|
|
|
—
|
|
|
—
|
|
No.
|
|
Description
|
3.1
|
|
|
3.2
|
|
|
31.1*
|
|
|
31.2*
|
|
|
32**
|
|
|
99.1
|
|
|
101.INS*+
|
|
XBRL Instance Document Exhibit
|
101.SCH*+
|
|
XBRL Taxonomy Extension Schema Document Exhibit
|
101.CAL*+
|
|
XBRL Taxonomy Extension Calculation Linkbase Document Exhibit
|
101.LAB*+
|
|
XBRL Taxonomy Extension Label Linkbase Document Exhibit
|
101.PRE*+
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
*
|
|
Filed herewith as an Exhibit.
|
**
|
|
Furnished herewith as an Exhibit.
|
+
|
|
Submitted electronically with this Quarterly Report.
|
Date:
|
October 2, 2017
|
/s/ Timothy A. Dawson
|
|
|
Timothy A. Dawson
|
|
|
Vice President, Chief Financial Officer
(Principal Financial Officer)
|
Date:
|
October 2, 2017
|
/s/ Michael D. Castleberry
|
|
|
Michael D. Castleberry
|
|
|
Vice President, Controller
(Principal Accounting Officer)
|
1 Year Cal Maine Foods Chart |
1 Month Cal Maine Foods Chart |
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