Scotts posts strong Q3

Scotts Miracle-Gro reported third-quarter net sales of $1.15 billion, up 9% from $1.05 billion a year ago.

Adjusted income from continuing operations for the third quarter ended June 29 was $153.9 million, up 53% from $100.8 million in the same period from last year. 

"The level of consumer engagement we've seen since April has erased the deficit we had after a slow break to the season in March," said chairman and CEO Jim Hagedorn. "In each area of the business, our team has done an outstanding job executing our plan this year. With less than two months remaining in our fiscal year, we now feel comfortable projecting that our full-year earnings should be at the mid-point of our guidance of $2.50 to $2.75 per share."

The company expects fiscal 2013 net sales ranging from a 1% decrease to an increase of 1% compared with a year ago. 

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