Hain Celestial earnings slip in fiscal 2010
August 26, 2010
by Keith Nunes
MELVILLE, N.Y. — The Hain Celestial Group earned $28,619,000, equal to 70c per share on the common stock, during fiscal year 2010, down 32% from $42,391,000, or $1.04 per share, in fiscal 2009.
Company sales for the year ended June 30 were $917,337,000, down 4% from $957,007,000 in fiscal 2009.
“We ended fiscal 2010 with the Sensible Portions snacks acquisition and began fiscal year 2011 with The Greek Gods yogurt acquisition — both exciting and strategic additions, which should expand our product offerings into growing categories and should provide us with an opportunity to leverage our existing brands with product extensions in these categories,” said Irwin D. Simon, president and chief executive officer.
During the fourth quarter, Hain Celestial’s net income was $6,691,000, or 16c per share, an improvement compared with the same period during the previous year when the company recorded a loss of $1,746,000.
Sales for the quarter were $222,788,000 down 14% from $258,802,000 during the fourth quarter of 2009.