Hain Celestial income down 13% in year

by FoodBusinessNews.net Staff
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MELVILLE, N.Y. — For the year ended June 30, The Hain Celestial Group posted net income of $41,221,000, equal to $1.03 per share on the common stock, down 13% from $47,482,000, or $1.21 per share, during fiscal 2007.

Sales for fiscal 2008 were $1,056,371,000, down 17% from $900,432,000 during the previous year.

"Our fiscal year has come to a close with record fourth-quarter sales, driven by the successful introduction of new products, continued contribution from our existing brands and our continued sharp focus on improving our productivity, expense efficiency and pricing, appropriate steps for this extraordinary environment," said Irwin D. Simon, president and chief executive officer. "With consumers staying at home more and the continuing expansion of our presence in grocery, mass-market and specialty retailers along with strong performance in the natural channel, we are seeing indications that consumers have prioritized leading a healthy lifestyle despite the challenging economy and inflationary pressures."

For the fourth quarter, the company posted net income of $6,504,000, or 16c per share, down 46% from $12,140,000, or 30c per share, during the same quarter of the previous year. Sales for the quarter were $278,261,000, up 25% from $222,320,000 during the same quarter of the previous year.

For fiscal year 2009, Hain Celestial expects to have $1.2 billion to $1.3 billion in sales and earnings per share in the range of $1.54 to $1.61.

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