In our last update, we said that Central Garden & Pet (NASDAQ:CENT) had made one step forward and one step back. We think it is fair to say that after reviewing the company's Q1 FY14 results, the company has finally taken one step forward. Our investment process is to look at the numbers first (SEC filings preferably) and listening to company management and analysts last when we form our opinion as to what the company is actually doing. We also place little faith in the "informational content" of short-term stock price movements. Media outlets dutifully reported that CENT "beat" earnings estimates of a loss of $0.31 by $0.05 per share on "better than expected gross and operating...
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