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Central Garden & Pet fiscal Q1 loss narrows YOY

Central Garden & Pet Co. said its normalized net income for the fiscal first quarter ended Dec. 27, 2014, was a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 19 cents per share.

The per-share loss narrowed 53.9% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.0 million, compared with a loss of $12.9 million in the year-earlier period.

The normalized profit margin rose to negative 2.0% from negative 4.4% in the year-earlier period.

Total revenue increased 5.8% on an annual basis to $307.3 million from $290.5 million, and total operating expenses rose from the prior-year period to $306.2 million from $298.9 million.

Reported net income totaled a loss of $5.7 million, or a loss of 12 cents per share, compared to a loss of $12.7 million, or a loss of 26 cents per share, in the year-earlier period.