Hain Celestial first-quarter earnings rise
Nov. 2, 2011
by Keith Nunes
MELVILLE, N.Y. — Citing the performance of its on-trend product portfolio that includes both natural and organic products, the Hain Celestial Group, Inc., saw its earnings rise during the first quarter of fiscal 2012, ended Sept. 30. Net income for the quarter totaled $11,690,000, equal to 27c per share on the common stock, up 29% from the first quarter of fiscal 2011 when net income was $9,095,000, or 21c per share.
Sales for the quarter were $292,359,000, up 13% from $257,961,000 in the first quarter of fiscal 2011.
The company said its quarterly sales growth was attributable to increased consumption in core categories, with strong contributions from its Earth’s Best, MaraNatha, Spectrum, The Greek Gods, Sensible Portions, Linda McCartney and personal care brands, and expanded distribution principally in the grocery and mass channels.
“We have seen a strong start to our fiscal year as we continue to experience favorable growth trends across our branded portfolio, despite the challenging economy,” said Irwin D. Simon, president and chief executive officer of the Hain Celestial Group. “Consumption trends improved year-over-year driven by consumers seeking out our natural and organic products.
“The strength of our existing portfolio coupled with our very exciting recent acquisitions of Daniels Group in the United Kingdom and the Europe’s Best brand in Canada give us a solid international platform for growth. With our leading brands in on-trend categories, our product innovation capabilities and the depth of our management team and existing infrastructure, we believe our global operations will achieve our growth and profitability expectations. With our newly established international scale, we look for increased growth and profit contributions outside the United States alongside our achievements in the United States.”
The company also reconfirmed its guidance for fiscal 2012 of earnings per share ranging between $1.63 and $1.73.