Hain Celestial continues to grow; raises outlook for '07
February 02, 2007
by FoodBusinessNews.net Staff
MELVILLE, N.Y. — Net income at Hain Celestial for the second quarter ended Dec. 31 totaled $14,768,000, equal to 38c per share on the common stock, up 20% from $12,338,000, or 33c, in the second quarter of 2006.
Net sales for the period rose 24% to $230,909,000, up from $186,227,000 in the second quarter of 2006.
The company saw strong performances by many of its diverse brands in the quarter and is excited about the strategic opportunities provided by its recent acquisition of Haldane Foods, said Irwin D. Simon, president and chief executive officer of Hain Celestial.
"The increasing scale and diversity of our business continues to provide the company with a balanced portfolio of markets and categories that result in a stable base of sales and earnings that reflect the growth of the natural and organic category," Mr. Simon said. "At the same time, we are maintaining our focus on continually improving efficiencies."
The company raised its annual guidance for 2007 to reflect its recent acquisitions. The company now expects full-year fiscal 2007 sales of $900 million to $920 million and earnings per share of $1.16 to $1.21.