The Central Garden and Pet Company, an innovator, marketer and producer of quality branded products for the lawn and garden and pet supplies markets, has announced the financial results for its fiscal third quarter of 2016.Sales were up by 12 per cent to $514.5 mio compared to $459.4 mio in the third quarter a year ago. Organic sales growth, excluding three businesses acquired in the previous 12 months and one business exited earlier in the year, was five per cent. The pet and garden segments both experienced organic growth.
Third-quarter net sales for the pet segment increased by 20.6 per cent to $287.2 mio from the same period a year ago. Pet organic sales grew by 4.3 per cent, driven by higher sales of other manufacturers' products as well as strong professional and wild bird feed categories. The pet segment's branded product sales were $227.8 mio, up 24.3 per cent compared to the third quarter a year ago, while sales of other manufacturers' products yielded $59.4 mio, an increase of 8.4 per cent, said the company.
The pet segment's operating income rose 17.7 per cent compared to the third quarter a year ago to $38.7 mio and included a gain of $2.4 mio from the sale of a manufacturing plant during the quarter. Pet operating margin decreased slightly to 13.5 per cent, a decline of 30 basis points compared to the third quarter a year ago, according to the company.
