Cagle's records loss due to high feed costs

(MEATPOULTRY.com, August 06, 2008)

by Keith Nunes

ATLANTA — Poultry processor Cagle’s Inc. recorded a loss of $2,996,000 for the first quarter ended June 28. During the first quarter of fiscal 2008, the company had net income of $1,536,000, equal to 33c per share on the common stock. The company noted that during the first quarter of 2009, feed ingredient costs increased 43% compared with the first quarter of fiscal 2008.

Sales for the first quarter of fiscal 2009 were $76,921,000 compared with $71,862,000 for the same period during fiscal 2008.

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