Revenue during the quarter grew 7 percent to $413.41 million from $386.37 million in the previous year period. Gross margin for the quarter expanded 112 basis points over the previous year period to 29.07 percent. Total expenses were 96.86 percent of quarterly revenues, down from 99.65 percent for the same period last year. This has led to an improvement of 280 basis points in operating margin to 3.14 percent.

Operating income for the quarter was $13 million, compared with $1.33 million in the previous year period.

However, the adjusted operating income for the quarter stood at $14.82 million compared to $8.60 million in the prior year period. At the same time, adjusted operating margin improved 136 basis points in the quarter to 3.59 percent from 2.23 percent in the last year period.

"Central's results this quarter and year reflect continued disciplined execution of our initiatives to grow revenues and profits," said George Roeth, president & chief executive officer of Central Garden & Pet. "Our efforts to grow organically have led to successful new products, expanded distribution and vendor relationships, and ultimately, market share gains. In addition, our recent acquisitions are performing at or above expectations."

Working capital increases
Central Garden & Pet Company has recorded an increase in the working capital over the last year. It stood at $512.59 million as at Sep. 24, 2016, up 7.48 percent or $35.67 million from $476.92 million on Sep. 26, 2015. Current ratio was at 3.53 as on Sep. 24, 2016, down from 3.70 on Sep. 26, 2015.

Debt remains almost stable
Total debt of Central Garden & Pet Company remained almost stable for the quarter at $395.27 million, when compared with the last year period. Total debt was 32.61 percent of total assets as on Sep. 24, 2016, compared with 34.98 percent on Sep. 26, 2015. Debt to equity ratio was at 0.71 as on Sep. 24, 2016, down from 0.78 as on Sep. 26, 2015. Interest coverage ratio improved to 1.96 for the quarter from 0.15 for the same period last year.