Marysville, Ohio-The Scotts Miracle-Gro Co. recorded a 35 percent increase in net income and a 14 percent uptick in sales for the fiscal year ending Sept. 30, 2006. Net income was $135.9 million on sales of $2.7 billion, versus the year-ago $100.6 million and $2.37 billion. Scotts said it is extremely pleased with the strength of its core business and the growth of Scotts LawnService. It expects 2007 net income to grow 10-12 percent. Fourth-quarter net income was in the loss column due to a $60 million non-cash impairment charge, primarily related to trade names and goodwill in the international consumer business. With the charges, the net loss was $39.4 million on sales of $492.1 million, versus the year-ago loss of $8.4 million and sales of $408.2 million. Excluding the impairment and other charges, adjusted net income for the quarter was $1.6 million, compared to a year-ago adjusted net loss of $700,000.
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