Hain Celestial Group Posts Positive Increase in PC

BOULDER , Colo. ,— Hain Celestial Group, Inc., a leading natural and organic food and personal care products company, reported its second fiscal quarter results. Its net sales increased 20 percent to $276 million from $230.2 million from last year’s second quarter due to strong sales from their organic food brands and personal care brands.

GAAP net income increased 10 percent to $15.6 million, or $0.37 per diluted share, from $14.2 million, or $0.34 per diluted share. Adjusted earnings per diluted share totaled $0.43 on adjusted net income of $17.9 million. These results include charges of $2.1 million ($1.3 million after tax) of previously announced acquisition-related integration and manufacturing start-up costs at the company’s Fakenham facility in the United Kingdom, and of $1.75 million for professional fees associated with the recently completed independent directors’ review of the company’s stock options practices.

"Our sustained and profitable growth continues with strong sales this quarter from a range of our brands, including Earth's Best®, Terra®, Garden of Eatin'®, DeBoles®, Arrowhead Mills®, Imagine®, Casbah®, Spectrum®, Yves®, FreeBird™, Ethnic Gourmet®, Lima®, and from the newly acquired Plainville Farms®, and our tofu operations. We also achieved strong sales in Personal Care, with Jason® and the Avalon® brands,” said Irwin D. Simon, president and chief executive officer of Hain Celestial.