Central Garden & Pet Company Revises Outlook for Fiscal First Quarter 2007
January 22 2007 - 7:00AM
Business Wire
Central Garden & Pet Company (NASDAQ:CENT) today announced
preliminary results for its fiscal first quarter ended December 30,
2006 of a net loss of 12 to 14 cents per fully diluted share on
sales of approximately $320 million. This compares to the previous
guidance of approximately breakeven for the quarter. �The reasons
for the earnings outlook revision for the quarter were a late
quarter shift in seasonal purchases by lawn and garden retailers,
lower sales and mix shift within pet bird and small animal products
and higher-than-previously anticipated grain costs,� commented
Glenn Novotny, President and Chief Executive Officer of Central
Garden & Pet Company. �These three factors resulted in
lower-than-anticipated sales and gross profit contribution.
Overall, we have strong listings for 2007, we believe we are
continuing to take market share and we are continuing to implement
price increases to offset rising grain costs.� The Company will
host a dial-in conference call shortly following the earnings
release on Wednesday, February 7, 2007, at 4:30 p.m., New York time
(1:30 p.m. San Francisco time) to discuss the first quarter 2007
results and outlook for Fiscal 2007. Individuals may access the
call by dialing 1-866-543-6408 and passcode 93996314 (domestic) or
617-213-8899 and passcode 93996314 (international). The earnings
conference call will be simultaneously broadcast over the Internet
through Central�s website, www.central.com. To listen to the
webcast, please log on to the website prior to the scheduled call
time to register and download any necessary audio software. Re-play
dial-in numbers for the call will be available for three weeks:
1-888-286-8010 and passcode 99997058 (domestic) and 617-801-6888
and passcode 99997058 (international). Central Garden & Pet
Company is a leading innovator, marketer and producer of quality
branded products for the Lawn & Garden and Pet supplies
markets. Committed to new product innovation, our products are sold
to specialty independent and mass retailers in the following
categories: In Lawn & Garden: Grass seed including the brands
Pennington and The Rebels; Wild bird feed and the brands Pennington
and Kaytee; Weed and insect control and the brands AMDRO, Sevin,
Ironite and OverNOut and; Decorative outdoor patio products and the
brands Norcal, New England Pottery and Matthews Four Seasons. We
also provide a host of other regional and application-specific
garden brands and supplies. Pet categories include: Animal health
and the brands Adams and Zodiac; Aquatics and reptile and the
brands Oceanic, Aqueon and RZilla; Bird & Small animal and the
brands Kaytee, Super Pet and CritterTrail; Dog & Cat and the
brands TFH/Nylabone, Four Paws, Pinnacle and Avoderm and; Equine
and the brands Farnam, Bronco and Super Mask. We also provide a
host of other application-specific Pet brands and supplies. Central
Garden & Pet is based in Walnut Creek, California, and has
approximately 5,000 employees, primarily in North America and
Europe. For additional information on Central Garden & Pet,
including access to the Company's SEC filings, please visit the
Company�s website at http://www.central.com/. "Safe Harbor"
Statement under the Private Securities Litigation Reform Act of
1995: The statements contained in this release which are not
historical facts, including future earnings guidance, are
forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those set forth in or implied by forward-looking statements.
These risks are described in the Company's�Annual Report on Form
10-K and other Securities and Exchange Commission filings. Central
undertakes no obligation to publicly update these forward-looking
statements to reflect new information, subsequent events or
otherwise.
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