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Central Garden & Pet lifts FY'18 EPS guidance

Central Garden & Pet Co. on Feb. 7 raised its full-year diluted EPS outlook for the fiscal year ending Sept. 30, 2018 as it posted results for the first quarter ended Dec. 30, 2017.

The company is now expecting non-GAAP earnings of $1.85 per fully diluted share or higher, a 23.3% increase from the previous guidance of $1.62 per share or higher. The guidance excludes the impact of the one-time revaluation of tax-deferred accounts.

For the first quarter ended Dec. 30, 2017, the California-based gardening and pet company reported $26.2 million in GAAP net earnings compared to $7.6 million in the first quarter of fiscal 2016. Diluted EPS for the three-month period also increased to 50 cents from 15 cents, beating the S&P Capital IQ consensus estimate of 15 cents per diluted share.