Central Garden & Pet earnings better than expected

Central Garden & Pet Co. reported better-than-expected earnings for the fifth successive quarter, thanks to its pet division.
The company reported fourth quarter earnings of 1 cent per share – the first time the company reported positive earnings in the last quarter since 2009. A year ago, the company reported a loss of 12 cents per share.
Net sales were up 3.2% year over year to US$386.4 million. Gross profit was up 0.4% to $108 million.
Net sales in the company’s pet segment were up 8.5% year over year to US$235.6 million. The segment’s operating income was up thanks to improved margins in the dog and cat categories, higher professional business volume and sales, and reduced marketing expenses in the flea and tick business.

Previous quarter

In August, Central Garden & Pet reported its third quarter sales increased to US$459.4 million compared with US$438.0 million for the third quarter of 2014. Adjusted sales for the third quarter of 2014 were US$445.0 million.
Third quarter sales for the pet segment increased US$11.0 million, or 4.8 percent, from the same period a year ago to US$238.1 million, due in large part to higher professional revenues and higher sales of other manufacturers' products.