Cagle's Inc. Announces Results for Fiscal Year Ended March 28, 2009

ATLANTA, June 12  /PRNewswire-FirstCall/ -- Cagle's Inc. (AMEX:CGL.A) reported a net loss of $11.5 million or $2.48 per diluted share for fiscal year 2009 compared with a net loss of $0.77 million or $0.17 per diluted share for fiscal 2008.  Operating income for fiscal 2009 was a loss of $15.7 million compared to operating income of $0.14 million for fiscal 2008.

Revenues for fiscal 2009 were $292.6 million reflecting a 3.1% increase when compared to fiscal 2008 with poultry prices increasing $0.024 per pound sold. Quoted market prices for the year 2009 versus 2008 reflect a reduction in boneless breast - 13.6%, breast tenders -7.2%, wings -9.2% and leg quarters -3.4%.

Cost of sales for fiscal 2009 increased 9.2% as compared with 2008, from $268.5 million to $293.2 million. Feed ingredient cost per ton for broilers processed in 2009 increased 23.5% or $20.3 million as compared to fiscal 2008. Feed cost represented approximately 36% of total cost of sales in 2009.

Our fourth quarter operating income approached the breakeven mark as revenue per pound improved by over 3% and cost of sales fell 1.6%. As we begin fiscal 2010 demand for the cost effective protein offered by our products is improving and our markets are reacting favorably which we anticipate will return our company to positive margins in the first quarter.

  Cagle's Inc.

  /s/ J. Douglas Cagle

  J. Douglas Cagle
  Chairman, CEO


                              Cagle's, Inc. & Subsidiary
                           Consolidated Statements of Income
                         (In Thousands, except per share data)

                                              Twelve Months Ended
                                           March 28,        March 29,
                                             2009             2008

  Net Sales                                $292,585         $283,649
  Costs and Expenses:
  Cost of Sales                             293,216          268,477
  Selling & Delivery and General &
   Administrative                             8,753            8,579
  General and Administrative                  6,293            6,458

  Total Costs and Expenses                  308,262          283,514

  Operating Income (Loss)                   (15,677)             135

  Other Income(Expense):
  Interest Expense                           (2,163)          (1,483)

  Other Income, Net                             (40)             190
  Total Other Income (Expense),net           (2,203)          (1,293)


  Income Before Income Taxes                (17,880)          (1,158)

  Income Taxes Provision                     (6,386)            (385)
  Net Income                               $(11,494)           $(773)
  Net Income Per Common Share                $(2.48)          $(0.17)


                                    Cagle's Inc.
                        Condensed Consolidated Balance Sheet
                                   (In Thousands)

  ASSETS                                March 28, 2009   March 29, 2008

     Current Assets                         $42,798          $46,420

     Other Assets                            11,571            6,294

     Property, Plant, and Equipment (net)    36,783           39,260

     TOTAL ASSETS                           $91,152          $91,974


  LIABILITIES & STOCKHOLDERS' EQUITY

     Current Maturities of Long-term Debt    $2,488           $2,269
     Trade Accounts Payable                  19,989           16,025
     Other Current Liabilities                7,642            7,929
     Total Current Liabilities               30,119           26,223

     Long-Term Debt                          29,049           20,924

     Total Stockholders' Equity              31,984           44,827

     TOTAL LIABILITIES & STOCKHOLDERS'
      EQUITY                                $91,152          $91,974


DATASOURCE: Cagle's Inc.



CONTACT:  Mark Ham of Cagle's Inc., [phone]



Web Site:  http://www.cagles.net/ 

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