The Central Garden & Pet Company has announced that its net sales in the quarter have declined by 7% to US$293 million, compared to US$314 million in the comparable fiscal 2008 period, according to a press release by the company.
However, the company is taking steps to reduce loss.
"In a challenging environment, we made progress managing working capital and controlling costs," said William Brown, chairman and CEO of Central Garden & Pet Co.
"We lowered selling, general and administrative expenses by US$8 million and were able to reduce our loss per fully diluted share in the quarter to 9 cents compared to 11 cents a year ago, after excluding the goodwill and other asset impairment charges, and the gain on sale of properties, and litigation settlement proceeds in the prior year period," Brown said.
The company reported an operating loss of US$2.7 million, compared to a loss of US$391 million a year ago.
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