Central Garden & Pet Company Updates Guidance - Quick Facts

(RTTNews) - Central Garden & Pet Company (CENT, CENTA) announced, given the strong performance to-date, the company currently expects non-GAAP earnings per share of $1.37 or higher for fiscal 2017, an increase of 8.7% or more from the prior year, excluding any impact from the acquisition of K&H Manufacturing that closed last week. Sales trends in the second half are expected to remain strong, however non-operating factors are expected to impact net income in the second half of the year.

Second-quarter net income was $34.7 million rose 6.1% compared to $32.7 million in the second quarter a year ago and earnings per share increased 3.1% to $0.67 from $0.65. Net sales increased 5.3% to $569.9 million compared to $541.2 million in the second quarter a year ago, due in large part to the company's recent Segrest acquisition. Organic sales growth, which excludes the Segrest business purchased in October 2016, rose 1.7%.