Cal-Maine Foods shares tumble 7% on wider-than-expected loss

Cal-Maine Foods shares slumped in premarket trading on Monday after the egg producer's fiscal first-quarter results fell short of expectations.

Shares of Cal-Maine were down more than 7 percent following the report. (Get the latest quote here.)

The Mississippi-based company posted a net loss of 64 cents a share, much wider than the 33 cents a share loss analysts had expected. Revenue also missed forecasts, coming in at $239.8 million versus the $275 million estimated.

The company also said it would not pay a dividend for the quarter.

"As the supply of shell eggs moved higher after the disruptions created by the Avian Influenza outbreak in the spring of 2015, market prices declined," Cal-Maine Foods CEO Dolph Baker said in a statement. "Retail demand remained favorable; however, lower institutional demand for egg products and reduced egg exports pushed inventory levels higher and created additional pricing pressures."

The stock has decreased 26 percent in the past 12-months.

Cal-Maine one-year performance:

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Cal-Maine Foods shares tumble 7% on wider-than-expected loss