Cagle's Inc. Reports Third Quarter Results

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Castelnau Group Limited	LSE:CGL	London	Ordinary Share	GG00BMWWJM28	ORD NPV

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-1.00	-1.30%	76.00	75.00	78.00	77.00	76.50	77.00	75,302	16:35:06

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
Trust,ex Ed,religious,charty	-29.82M	-34.09M	-0.1068	-7.16	244.18M

Castelnau (LSE:CGL)
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From Jul 2019 to Jul 2024

Cagle's Inc. Reports Third Quarter Results ATLANTA, Feb. 7 /PRNewswire-FirstCall/ -- Cagle's Inc. (AMEX:CGL.A) today reported the following results for its third quarter ended January 01, 2005. Net income for the third quarter of fiscal 2005 was $115 thousand or $.02 per diluted share as compared with a net loss of $24.9 million or $(5.26) per diluted share for the third quarter of fiscal 2004. For the first nine months of fiscal 2005, net income improved to $9.0 million or $1.89 per diluted share compared with a net loss of $28.6 million or $(6.02) per diluted share for the first nine months of fiscal 2004. Poultry markets for the first nine months of our current fiscal year were improved by approximately 19.8%; however, markets for the third quarter of this year were 6.5% less than the same period last year. Grain markets are supportive of our margins as record corn and soy crops have resulted in a three month reduction in feed cost of 6.6% versus the same period last year, while the nine month period reflected an increase of 16% as compared to the first nine months of fiscal 2004. The Company negotiated a financing facility for portions of its debt with an agriculturally focused bank group this quarter and contemplate a stable, long-term relationship going forward. Construction involving expansion of existing hatchery capacity, which should be completed in April 2005, will allow the Company to return to a self-sufficient supply of inventory necessary for our plants to return to full production volumes by July 2005. Cagle's Inc. Consolidated Statements of Income (in thousands except per share amounts) (Unaudited) Three Months Ended Nine Months Ended January 1, January 3, January 1, January 3, 2005 2004 2005 2004 Net Sales $54,594 $46,826 $185,767 $136,194 Cost and Expenses: Cost of Sales 51,715 45,741 164,412 124,056 Selling, General & Admin. 3,053 4,568 9,229 12,359 Total Cost and Expenses 54,768 50,309 173,641 136,415 Loss Divested Operations (note 1) - (17,427) - (24,050) Operating Income (Loss) (174) (20,910) 12,126 (24,271) Other Expenses (Income): Interest Expense 653 2,213 2,004 6,054 Miscellaneous (65) 3,801 (736) 3,807 Total Other Expenses 588 6,014 1,268 9,861 Earnings Unconsolidated Affiliates 941 816 3,173 2,371 Income (Loss) before Income Taxes 179 (26,108) 14,031 (31,761) Income Tax Expense (Benefit) 64 (1,159) 5,036 (3,179) Net Income (Loss) 115 (24,949) 8,995 (28,582) Net Income (Loss) per Share $0.02 $(5.26) $1.89 $(6.02) Note 1: The three month and nine month periods ended January 01, 2005 have been adjusted to reflect the pretax loss generated from the Perry Complex, which the company sold in the fourth quarter of fiscal 2004, as a single line item. The details of this transaction for the three and nine month periods respectively (in 000's) are a reduction in sales of $35,822 and $104,236, a reduction in cost of sales of $52,391 and $126,177 and a reduction in selling, general, and administrative expenses of $858 and $2,109. Cagle's Inc. Condensed Consolidated Balance Sheet (in thousands) (Unaudited) ASSETS January 1, 2005 January 3, 2004 Current Assets $35,789 $44,071 Investments in Affiliates 5,536 4,835 Other Assets 13,240 6,564 Property, Plant, and Equipment (net) 43,076 89,880 TOTAL ASSETS $97,641 $145,350 LIABILITIES & STOCKHOLDERS' EQUITY Current Maturities of Long-term Debt $3,451 $63,007 Trade Accounts Payable 11,439 20,918 Other Current Liabilities 6,650 13,887 Total Current Liabilities 21,540 97,812 Long-Term Debt less Current Maturities 32,194 23,112 Other Non-current Liabilities 645 1,016 Total Stockholders' Equity 43,262 23,410 TOTAL LIABILITIES & STOCKHOLDERS' EQUITY $97,641 $145,350 Note 2: The periods ended January 01, 2005 and January 3, 2004 reflect changes brought about by the anticipated and final disposition of the Perry Complex. DATASOURCE: Cagle's Inc. CONTACT: George Pitts, ext. 1200, or , or Mark Ham, , both of Cagle's Inc., +1-404-355-2820 Web site: http://www.cagles.net/

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CGL Castelnau Group Limited