This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Central Garden & Pet Company Announces Fourth Quarter & Fiscal 2011 Results

Fourth Quarter 2011 Details

The Company’s sales gains were driven by the Garden Products segment, which reported net sales for the quarter of $165.1 million, a gain of 24 percent over the fourth quarter of 2010. The Garden Products segment’s branded product sales increased $31.6 million, or 27 percent, to $148.5 million while sales of other manufacturers’ products were $16.6 million, in line with the fourth quarter of 2010. The Company’s gross and operating margins were adversely impacted by higher raw material input costs during the quarter. The Garden Products segment’s operating loss during the quarter was $6.9 million compared to an operating loss of $7.6 million in the fourth quarter of 2010.

Fourth quarter net sales for the Pet Products segment decreased one percent, or $2.1 million over the prior year, to $211.8 million. The Pet Products segment’s branded product sales decreased $1.8 million, or one percent, to $171.8 million. Sales of other manufacturers’ products were $40.0 million, in line with the fourth quarter of 2010. The Pet Products segment’s operating income was $15.6 million compared to operating income of $12.9 million in the prior year period. Excluding the impairment charge in the fourth quarter of last year, operating income for the fourth quarter of 2010 would have been $24.9 million for the Pet Products segment.

At September 24, 2011, the Company’s cash and short term investments balance totaled $29.9 million. Net interest expense was $9.8 million for the quarter and $9.0 million in the prior year period. Depreciation and amortization expense was $7.3 million in the fourth quarter of 2011, consistent with the prior year. The Company’s effective tax rate for the fourth quarter of 2011 was 17 percent on its operating loss compared to 36 percent in the fourth quarter of 2010. The change in the effective tax rate was due primarily to the Company’s reduced ability to use tax benefits due to decreased fiscal 2011 income and increased tax valuation allowances.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs