Central Garden & Pet reports first-quarter fiscal 2013 net sales drop
Pet segment sales fall 2 percent due to lower sales of dog, cat products
Pet product manufacturer Central Garden & Pet reported net sales of US$292.5 million for first-quarter fiscal 2013, ended December 29, 2012, a 3 percent decrease over the same period a year ago. The company's pet segment net sales fell 2 percent (US$4.1 million) to US$195.2 million for first-quarter 2013 compared to the same period in 2012.
The company attributes lower net sales in its pet segment to lower sales of dog and cat products. The pet segment's branded-product sales were US$ 154.2 million and Central's sales of other manufacturers' products were US$41 million. Operating income for the pet segment rose to US$10.2 million for first-quarter fiscal 2013 compared to US$9.7 in the same period a year ago, thanks to improvements in the company's equine business.
Overall, Central Garden & Pet reported a first-quarter operating loss of US$13.1 million, compared to US$11.3 million during the same period in fiscal 2012, due to lower sales and gross margins. First-quarter fiscal 2013 net loss was US$15.3 million, compared to US$13.1 million during the same period in fiscal 2012 .