Columbus, Ohio
April 20, 1999The Scotts Company today said that it expects to
report a sales increase of over 45%, for the second quarter ended April 3, 1999, compared
to last year's comparable quarter, or around 15% on a pro forma basis as if Scotts had
owned recently acquired businesses throughout both periods.
Scotts said that pro forma growth was led by its North American Consumer lawns business.
The
Company said that it expects to report second quarter diluted earnings per share in excess
of the
$1.52 - $1.62 guidance it previously provided and that it expects to report full-year
diluted earnings
per share in excess of its long-term targets of 15% annual growth.
The Scotts Company will hold a teleconference on Friday, April 23, 1999, to discuss second
quarter results. Call Broadgate Consultants at 212-232-2222 for teleconference details.
The Scotts Company is the world's leading supplier of consumer products for lawn and
garden
care, with a full range of products for professional turf care and horticulture as well.
The company
owns what are by far the industry's most recognized brands. In the U.S., consumer
awareness of
the company's Scotts®, Miracle-Gro® and Ortho® brands outscores the nearest competitors
in
their categories by several times, as does awareness of the consumer Roundup® brand which
is
owned by Monsanto. Scotts has entered into an agreement with Monsanto to be the exclusive
marketing agent for consumer Roundup® worldwide. In the U.K., Scotts' brands include
Weedol®
and Pathclear®, the top-selling consumer herbicides; Evergreen®, the leading lawn
fertilizer line; the Levington® line of lawn and garden products; and Miracle-Gro®, the
leading plant fertilizer. The Company's leading brands in continental Europe include KB®
and Fertiligene® in France and
NexaLotte® and Celaflor® in Germany.
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