Pet Food News
On December 13, 2013

Central Garden & Pet reports fourth-quarter fiscal 2013 financial results

Pet segment net sales at US$220.4 million, down 7 percent from comparable 2012 period

Central Garden & Pet Company has reported financial results for the fourth quarter of fiscal 2013.

The company reported net sales of US$368.8 million for the fourth quarter of 2013, a 7 percent decrease over the 14-week comparable fiscal 2012 period. Reported net sales for the pet segment for the quarter were US$220.4 million, a decline of 7 percent over the fourth quarter of 2012.

The pet segment's branded product sales for the quarter decreased US$16.1 million to US$175.6 million, while sales of other manufacturers' products were US$44.8 million, a decrease of 2 percent compared with the fourth quarter of 2012. The pet segment's operating margin improved for the quarter, aided by higher gross margins and lower marketing expenses. For the fourth quarter, the pet segment's operating income was US$24.7 million, an increase from US$16.5 million in the fourth quarter of 2012.

The company's overall fourth-quarter operating loss for 2013 was US$26.4 million compared to an operating loss of US$8.5 million in the fourth quarter of 2012. The net loss for the fourth quarter of 2013 was US$22.6 million compared with a loss of US$10.1 million in the fourth quarter of 2012.

Sales comparisons were affected by an extra week in the prior year quarter and full-year periods.

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