The following report of earnings for Cagle's, Inc. (Amex: CGLA) was released today:

(Amounts in Thousands, Except per Share Data)

13 Weeks Ended 13 Weeks Ended
July 01, 2000 July 03, 1999

Net Sales $69,184 $86,358

Net Profit (Loss) $(189) $3,391

Net Income Per Common Share
Basic $(.04) $.71
Diluted $(.04) $.71

Wtd. avg shares outstanding
Basic 4,747 4,765
Diluted 4,742 4,770

In releasing this report, Cagle's, Inc. stated that the lower revenues and earnings as compared to the same period of a year ago is attributable to significantly lower market prices for poultry products. The major factor being boneless skinless breast meat which averaged $.31 per pound lower than for the same period of year ago. Other products including whole birds experienced markedly lower prices.

Feed grain prices have remained stable at favorable levels, limiting to some extent the effect of depressed prices in the poultry sector.