The growth is in the bigger picture for Central Garden & Pet

Central Garden & Pet Company might have posted a widened loss in the fourth quarter, but the bigger picture of its fiscal 2015 performance told a very different story.

Sales increased 3% to $1.65 billion for the year, and net income soared to $32.0 million from just $8.8 million last year.

Gross profit also got a nice bump of 7.5%, and operating income was up 63% to $91.4 million.

Central Garden & Pet Company might have posted a widened loss in the fourth quarter, but the bigger picture of its fiscal 2015 performance told a very different story.

Sales increased 3% to $1.65 billion for the year, and net income soared to $32.0 million from just $8.8 million last year.

Gross profit also got a nice bump of 7.5%, and operating income was up 63% to $91.4 million.

“2015 was a year of major accomplishments for Central," said president and CEO John Ranelli. "The operational and financial success we are achieving is now very evident in our financial results and is validation that the multi-year plan we outlined in 2013 is working, and we are on plan and the right path. In addition to realizing the positive results from our efforts to put our customers first, lower our expenses and operate more efficiently, we are now beginning to see the effects of the initiatives we undertook during 2015 to grow our top line."

The fourth quarter ended Sept. 26 featured adjusted earnings per share that were positive for the first time in recent years, and sales were up 3% to $386.4 million.

However, gross profit was flat at $108.0 million, operating income dropped 7% to $1.3 million, and net loss increased 7% to $4.4 million (compared to a loss of $4.1 million a year ago).

The company expects continued growth in 2016, with adjusted earnings per fully diluted share expected to increase at least 28% to $0.95 or higher. However, adjusted earnings for the first quarter are expected to be flat compared to the full year.