Hain earnings, sales rise 12% in quarter
November 4, 2010
by Eric Schroeder
MELVILLE, N.Y. — The continuing consumer shift toward healthier foods and lifestyles contributed to a 12% increase in earnings at The Hain Celestial Group in the first quarter. Net income in the quarter ended Sept. 30 totaled $9,095,000, equal to 21c per share on the common stock, up from $8,090,000, or 20c per share, in the same period a year ago.
Net sales for the company also rose 12%, climbing to $257,961,000 from $230,484,000 in the first quarter of fiscal 2010. The company attributed the strong sales to improved results in its North American operations.
“Building on the improved consumption trends the company experienced earlier in the calendar year, we started off fiscal year 2011 with strong first-quarter sales and earnings,” said Irwin D. Simon, president and chief executive officer. “Even with a tough economy, consumers are committed to eating healthy foods and maintaining healthy lifestyles. Our established operations gained momentum across most major categories along with sales from our recent strategic acquisitions, which achieved incremental sales growth over their pre-acquisition results.”
Mr. Simon added that the acquisitions of The Greek Gods, Sensible Portions and Churchill’s brands have brought the company new product platforms and channel expansion capabilities.
Hain reconfirmed its full-year fiscal 2011 guidance at $1.24 to $1.31 per share. The guidance excludes transaction costs and integration expenses from recent acquisitions that may be incurred during the fiscal year.