Thursday, The Scotts Miracle-Gro Co. (SMG) said its fourth-quarter net loss narrowed to $14.9 million or $0.23 per share from $34.7 million or $0.54 per share in the prior year period.
Adjusted net loss for the quarter widened to $21.5 million or $0.33 per share from $17.5 million or $0.27 per share in the year-ago period. On average, 12 analysts polled by Thomson Reuters expected the company to report a loss of $0.33 per share for the quarter.
Net sales for the quarter rose to $583.4 million from $544.2 million in the comparable period. Nine analysts estimated revenues of $555.67 million for the quarter.
The company said its initial guidance for fiscal 2010 assumes sales growth of 3% - 5% and earnings per share in a range of $3.00 - $3.10. Thirteen analysts estimate earnings of $3.05 per share for the year.
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