Scotts Miracle-Gro Grows 7 Percent in Fourth Quarter

The ScottsMiracle-Gro Co. said Friday that it narrowed a loss in its fiscal fourth-quarter to $34.7 million as sales grew by 7 percent.

The lawn and garden care company lost 54 cents per share in the quarter that ended Sept. 30. That compares to a loss of $40.3 million, or 63 cents per share a year ago. Excluding one-time charges, the company lost 27 cents per share in the most recent quarter, meeting an expectation from analysts.

Analysts surveyed by Thomson Reuters had also expected revenue of $541 million.

The company said revenue rose 7 percent to $544.2 million.

For its fiscal 2008 year, ScottsMiracle-Gro said it lost $10.9 million, or 17 cents per share. In the prior year, it made a profit of $113.4 million, or $1.69 per share. Revenue grew 4 percent to $2.98 billion from $2.87 billion in 2007.

Excluding product recalls and other one-time expenses, the company said it earned $2.05 per share for the year, meeting a consensus estimate from Wall Street.

Analysts had also expected 2008 revenue of $3 billion.

Shares closed Thursday at $25.24. They have traded in a 52-week range of $16.12 to $43.50