Central Garden & Pet reports strong pet segment in fiscal 2012
Fourth-quarter 2012 net sales rise 5 percent to US$397.2 million thanks to strength in pet segment
Central Garden & Pet Company reported financial results for the 14- and 53-week periods ended September 29, 2012, posting net sales of US$397.2 million for the fourth quarter of 2012, a 5 percent increase over the same period in fiscal 2011. Net sales rose thanks to strength in the company's pet segment, as well as an extra week in the quarter compared to 2011.
In the pet segment alone, net sales for fourth-quarter 2012 were US$237.6 million, 12 percent higher than fourth-quarter 2011.The pet segment’s branded product sales for the fourth quarter increased US$19.9 million (12 percent) to US$191.7 million, while sales of other manufacturers’ products were increased 15 percent compared to 2011 to US$45.9 million in 2012. The segment’s operating margin declined during the quarter, impacted by higher marketing and innovation expenses. Operating income was US$16.3 million, up from US$15.6 million in the fourth quarter of 2011.
For fiscal 2012, the company reported net sales of US$1.7 billion, an increase of 4 percent from US$1.6 billion in 2011. Net income for the year ended September 29 was US$21.2 million compared to US$28.3 million in fiscal 2011.