Central Garden & Pet Announcement
Cautions On Third Quarter and Fiscal Year Outlook Presenting at Piper Jaffray Consumer Conference
WALNUT CREEK, Calif.--(BUSINESS WIRE)--
Central Garden & Pet Company (NASDAQ: CENT/CENTA) announced today that it expects results for its fiscal third quarter ending June 30, 2007, and for the full fiscal year, to be lower than the current range of analyst estimates as reported on First Call.
"Based on preliminary end-of-the-month reporting from our operations and retail customers, it is clear that the softness in lawn and garden and pet sales that we experienced in April, and communicated publicly in early May, has continued through May, reflecting the challenging environment overall for retailers as well as unfavorable weather conditions in many parts of the United States," said Glenn Novotny, President and Chief Executive Officer of Central Garden & Pet. "The weather conditions in particular, including the severe drought in the Southeast, have adversely impacted our lawn and garden business. On our third quarter earnings conference call in early August, we will address the financial impact of lower-than-anticipated May sales, including in some of our higher margin categories, and our outlook for the balance of fiscal 2007."
Management will present to investors at the Piper Jaffray Consumer Conference in New York on June 7, 2007. A webcast of the presentation can be accessed live through the Internet at 10:30 a.m. Pacific Time and by archive through July 10, 2007, via the following link. www.corporate-ir.net/ireye/conflobby.zhtml?ticker=CENT&item_id=1564619
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: Lawn & Garden: Grass seed including the brands PENNINGTON(R) and THE REBELS(TM); wild bird feed and the brands PENNINGTON(R) and KAYTEE(R); weed and insect control and the brands AMDRO(R), SEVIN(R), IRONITE(R) and Over 'N Out and; decorative outdoor patio products and the brands NORCAL(R), NEW ENGLAND POTTERY(R) and MATTHEWS FOUR SEASONS(TM). We also provide a host of other regional and application-specific garden brands and supplies. Pet categories include: Animal health and the brands ADAMS(TM) and ZODIAC(R); aquatics and reptile and the brands OCEANIC(R), AQUEON(TM) and RZILLA(TM); bird & small animal and the brands KAYTEE(R), SUPER PET(R) and CRITTER TRAIL(R); dog & cat and the brands TFH(TM) / NYLABONE(R), FOUR PAWS(R), PINNACLE(R) and Avoderm and; equine and the brands FARNAM(R), BRONCO(R) and SUPER MASK(R). 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/.
Source: Central Garden & Pet Company
Released June 6, 2007