Central Garden & Pet Company, a leading marketer and producer of branded products for the lawn and garden and pet supplies markets, has announced financial results for its fiscal first quarter ending on 27 December 2014. The company reported first-quarter net sales of $307.3 mio, an increase of $16.8 mio compared with the first quarter of the previous year.
Both the pet and garden segments delivered higher sales. The gross margin of 28.6 per cent increased 120 basis points compared with the previous year as a result of strength in the pet segment, said the company. The company first-quarter operating income was $1.1 mio, compared to an operating loss of $8.4 mio in the first quarter of 2014. The net loss for the quarter was $5.7 mio, compared to a net loss of $12.7 mio in the year-ago period.
Pet segment results
First-quarter net sales for the pet segment at Central Garden increased $14.7 mio from the same period a year ago to $199.3 mio, due in large part to higher sales of other manufacturersproducts as well as higher flea & tick and professional revenues. Sales of other manufacturersproducts increased primarily due to higher dog food and treat sales, according to the company. The pet segment branded product sales were $146.7 mio in the first quarter of 2015 and sales of other manufacturersproducts were $52.6 mio. The pet segment operating income was $20.6 mio compared with $14.4 mio in the first quarter of 2014.