UPDATE 1-Cal-Maine profit misses mkt view on higher feed costs

* Q2 EPS $0.63 vs est. $0.72

* Q2 rev up 2 pct to $234.5 mln vs est. $231.2 mln

Dec 27 (BestGrowthStock) – U.S. egg supplier Cal-Maine Foods Inc
(CALM.O: ) reported a lower-than-expected quarterly profit, hurt
by higher feed costs which the company said would remain a
concern in fiscal 2011 as well.

“The current and expected balance of supply and demand for
corn and soybean meal points to a tight feed supply throughout
the next marketing year,” Chief Executive Dolph Baker said in a
statement.

For the second quarter, the company reported a net income
of $15.2 million, or 63 cents of share, compared with a net
income of $16.1 million, or 67 cents per share, a year ago.

Revenue for the quarter rose 2 percent to $234.5 million.

Analysts on average were expecting earnings of 72 cents a
share on revenue of $231.2 million, according to Thomson
Reuters I/B/E/S.

Shares of the Jackson, Mississippi-based company, which has
gained about 14 percent in value since reporting first-quarter
results in September, closed at $33.82 on Thursday on Nasdaq.
(Reporting by NR Sethuraman in Bangalore; Editing by Joyjeet
Das)

UPDATE 1-Cal-Maine profit misses mkt view on higher feed costs