Central Garden & Pet Co. reports first-quarter fiscal 2011 earnings
Company sees 5% first-quarter net sales increase
Central Garden & Pet Co. announced results for its first quarter of fiscal year 2011 ended December 25, 2010, reporting net sales of US$282 million and a 5% increase over the same period one year ago.
Net sales for the pet products segment were US$187 million, an increase of 3% over the same period in fiscal 2010. Branded product sales came to US$151 million, with pet segment sales of other manufacturers’ products at US$36 million. The company reported an operating income for its pet products segment of US$11.4 million. The company reported an operating loss of US$6.5 million, due primarily to rising grain and other raw material prices as well as increased marketing and brand building expenditures. The net loss for the quarter was US$9.6 million or US$0.16 per share, compared to a net loss of US$2.9 million or US$0.04 per share in the same period one year ago.