Central Garden & Pet Q2 sales decline
Central Garden & Pet reported second-quarter net sales of $466.9 million, down 4% from $485.7 million in the same period a year ago. Net income for the quarter ended March 24 totaled $21.6 million, compared with net income of $31.8 million in the second quarter of 2011.
Net sales for the Garden Products segment decreased 6% from the same period a year ago to $244.4 million. Net sales for the Pet Products segment decreased 1% from the same period a year ago to $222.5 million, due primarily to a decline in wild bird feed sales.
"Even with strong demand from consumers for our products, our sales and earnings were impacted this quarter by short-term execution issues arising from our transformational efforts, which hindered our ability to fully meet demand," said Bill Brown, chairman and CEO. "We are addressing these issues and are continuing to see strong demand for our products. April sales are up significantly over last year, helped by delayed shipments and strong demand for our flea and tick products."
For the six months ended March 24, the company reported net sales of $769.0 million, little changed from $767.4 million in the year-ago period. Net income for the six months totaled $8.5 million, compared with $22.2 million in the comparable 2011 period.