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Scotts Miracle-Gro posts first quarter net loss

Mon Jan 28, 2008 7:07pm EST

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NEW YORK, Jan 28 (Reuters) - Scotts Miracle-Gro Co (SMG.N), maker of lawn and garden chemicals, on Monday said it posted a first quarter net loss, while sales rose 14 percent.

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The Marysville, Ohio, company said its net loss narrowed to $56.8 million in the fiscal first quarter which ended Dec 29, from $59.4 million a year earlier. On a per-share basis, the net loss widened by a penny to 89 cents a share.

Sales rose to a record $308.7 million, fueled by its global consumer and lawn service businesses.

The company had been expected to lose $1.05 a share, according to analysts polled by Reuters Estimates. (Reporting by Joseph A. Giannone; Editing by Carol Bishopric)

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