Hain Celestial profit drops 33% in Q3
May 05, 2008
by FoodBusinessNews.net Staff
MELVILLE, N.Y. — One-time expenses and costs were cited in a 33% profit drop for Hain Celestial for the third quarter ended March 31.
Net income for the quarter was $8,315,000, equal to 21c per share on the common stock, down from $12,390,000, or 31c per share, during the same quarter of the previous year. Net revenue for the quarter was $264,632,000, up from $238,027,000 during the same quarter of 2007.
Sales were increased by the consumer trend of eating more meals at home. One-time expenses were cited as program implementation for a product elimination project, as well as start-up costs at a manufacturing facility.