The Hain Celestial Group, Inc., a natural and organic products company providing consumers with “A Healthy Way of Life™,” reported its results for the fourth quarter and fiscal year ended June 30, 2012.
The company in the fourth quarter reported global net sales of $350.8 million from continuing operations, a 22.3 percent increase compared to net sales of $286.9 million in the fourth quarter of fiscal year 2011. The company's fourth quarter net sales do not include $23.0 million of net sales in 2012 and $5.2 million in 2011 from the private label chilled ready meals and Daily Bread™ sandwich businesses, which are both classified as discontinued operations.
The company's growth came from continued sales momentum in the natural and organic sector across various classes of trade including natural, grocery, mass-market retailers, club stores and e-tailers along with contributions from strategic acquisitions. Strong brand contribution came from Earth's Best®, Spectrum®, MaraNatha®, The Greek Gods®, Imagine®, Garden of Eatin'®, Arrowhead Mills®, Health Valley®, Linda McCartney®, Avalon Organics® as well as from the recently acquired Europe's Best®, New Covent Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®, Lovetub®, Sunripe® and Cully & Sully® brands.
For the fourth quarter, the company earned $23.4 million in net income as compared to $12.8 million, an 82.1 percent increase from the prior year and reported diluted earnings per share of $0.50 compared to $0.28 in the prior year. Adjusted earnings per diluted share was $0.47 on adjusted net income of $21.7 million in the 2012 fourth quarter as compared to $0.36 per diluted share on adjusted net income of $16.5 million over the prior year fourth quarter. Adjusted net income and diluted earnings per share improved 31.8 percent and 30.6 percent, respectively, over the prior year fourth quarter. Adjusted net income excludes acquisition-related items and restructuring charges and results of discontinued operations.
"We finished fiscal year 2012 with strong results across our key performance measures as consumption in the United States accelerated during the year to the highest levels in the company's history as consumers continued to seek out our products. With new product innovation, increased sales opportunities in various channels of distribution and global geographies, along with productivity initiatives, our year ended with solid results across all of our segments," said Irwin D. Simon, founder, president and chief executive officer of Hain Celestial in a prepared statement.
For fiscal 2012, the company reported global net sales of $1,378.2 billion from continuing operations, a 24.3 percent increase compared to net sales of $1,108.5 billion in fiscal year 2011. The company's 2012 fiscal year net sales does not include $73.7 million of net sales from private label chilled ready meals and Daily Bread sandwich operations, which are both classified as discontinued operations.
The company's growth came from continued sales momentum in the natural and organic sector across various classes of trade along with contributions from strategic acquisitions. Strong brand contribution came from Earth's Best®, Celestial Seasonings®, Spectrum®, MaraNatha®, The Greek Gods®, Imagine®, Garden of Eatin'®, Arrowhead Mills®, Health Valley®, DeBoles®, Sensible Portions®, Linda McCartney®, Avalon Organics® and Queen Helene® as well as from the recently acquired Danival®, GGUniqueFiber®, Europe's Best®, New Covent Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®, Lovetub®, Sunripe® and Cully & Sully® brands.
For the fiscal year, the company earned $79.2 million in net income as compared to $55.0 million, a 44.1 percent increase from the prior year, and reported diluted earnings per share of $1.73 compared to $1.23 in the prior year.
Adjusted earnings per diluted share was $1.86 on adjusted net income of $85.5 million in the 2012 fiscal year as compared to $1.43 per diluted share on adjusted net income of $63.5 million. Adjusted net income and diluted earnings per share improved 34.7 percent and 30.1 percent, respectively, over the prior fiscal year. The company's fiscal year adjusted net income excludes acquisition related items and restructuring charges.
