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Last $9.69 USD
Change Today +0.04 / 0.41%
Volume 4.6K
CENT On Other Exchanges
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NASDAQ GS
NASDAQ GS
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As of 12:05 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).

central garden & pet co (CENT) Key Developments

Central Garden & Pet Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 28, 2015; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2015

Central Garden & Pet Company reported unaudited consolidated earnings results for the second quarter and six months ended March 28, 2015. For the quarter, the company reported net sales of $497,602,000 compared to $501,611,000 a year ago. Income before income taxes and non-controlling interest was $37,992,000 compared to $34,488,000 a year ago. Net income attributable to the company was $23,237,000 compared to $20,895,000 a year ago. Diluted net income per share was $0.47 compared to $0.43 a year ago. Income from operations was $49,971,000 compared to $44,769,000 a year ago. CapEx for the quarter was $7 million versus $4.6 million last year, in line with historical annual run rate of $25 million to $30 million. Cash flow used by operations in the second quarter was $114 million compared to $91 million in the second quarter of 2014. For the six months, the company reported net sales of $804,922,000 compared to $792,132,000 a year ago. Income before income taxes and non-controlling interest was $28,330,000 compared to $13,761,000 a year ago. Net income attributable to the company was $17,540,000 compared to $8,187,000 a year ago. Diluted net income per share was $0.35 compared to $0.17 a year ago. Income from operations was $51,109,000 compared to $36,414,000 a year ago. Net debt was $503 million versus $514 million last year, an improvement of $11 million. This improvement reflects higher earnings and improved balance sheet, partially offset by cash used for bond redemptions, stock repurchases and tuck-in acquisitions. The Company currently expects earnings per share for fiscal 2015 could be in excess of $0.55, in comparison to adjusted earnings per share of $0.33 a year ago. It is expecting the full year to be up to last year. For the third quarter, the company’s earnings per share is expected to be relatively flat to down with the fourth quarter favorable versus the prior year.

Central Garden & Pet Seeks Acquisitions

Central Garden & Pet Company (NasdaqGS:CENT) will look for acquisitions. John Ranelli, President & Chief Executive Officer of Central Garden & Pet said, “The operational foundation for our future success is nearly complete. We will be building on this base going forward by expanding our efforts to focus on growth - both organic and through targeted acquisitions. We expect to increase revenues and profits in 2015 and beyond, by taking advantage of our improved financial and operating leverage. Our balance sheet is stronger and we are generating significant operating cash flow. As I expected when I became CEO, it has been, and will continue to be, a journey. While there is still much work to do, our results are beginning to show the momentum we expect for the future and we see a path to meaningful earnings growth over the next several years."

Central Garden & Pet Company, Q2 2015 Earnings Call, May 05, 2015

Central Garden & Pet Company, Q2 2015 Earnings Call, May 05, 2015

Central Garden & Pet Company to Report Q2, 2015 Results on May 05, 2015

Central Garden & Pet Company announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on May 05, 2015

Central Garden & Pet Company Appoints Two Independent Directors

Central Garden & Pet Company announced that it has appointed two new independent directors, George C. Roeth and Thomas J. Colligan, to the company's Board of Directors, effective immediately. The appointment of these directors increases Central's Board from seven to nine directors. Mr. Roeth, is a 27-year veteran of The Clorox Company. Mr. Colligan, served in executive roles for 37 years at PriceWaterhouseCoopers LLP.

 

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CENT

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Valuation CENT Industry Range
Price/Earnings 26.0x
Price/Sales 0.3x
Price/Book 1.0x
Price/Cash Flow 7.1x
TEV/Sales NM Not Meaningful
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