Q1 loss widens at Central Garden & Pet
Walnut Creek, Calif.-based Central Garden & Pet posted a first-quarter net loss of $13.1 million, compared with a net loss of $9.6 million in the year-ago quarter.
Net sales for the first quarter ended Dec. 24, 2011, totaled $302.1 million, up 7% from $281.7 million in the same period a year ago.
“We continued to drive solid revenue growth this quarter, with gains in both our Garden and Pet businesses,” said Bill Brown, chairman and CEO. “As expected, it was a challenging quarter, as raw material costs remained high and the mix of sales favored lower-margin products which impacted our bottom line results.
“We are dually focused on managing our operations in this challenging economic environment, while moving forward with the transformation of Central into an integrated, multi-brand company. We believe our strong portfolio of products and talented employee base will be keys in achieving our goal of sustainable long-term growth and improved profitability."
Net sales for the Garden Products segment increased 8% to $102.8 million. The Garden Products segment’s branded product sales were $89.9 million, and sales of other manufacturers’ products totaled $12.9 million.
First-quarter net sales for the Pet Products segment increased 7% to $199.3 million. The Pet Products segment’s branded product sales were $156.6 million, and sales of other manufacturers’ products were $42.7 million.