Hain Celestial U.S. Surpasses $1 Billion In Net Sales

The Hain Celestial Group, Inc. recently reported results for the fourth quarter and fiscal year ended June 30, 2013. Worldwide net sales for the fourth quarter of fiscal year 2013 were a record $463.5 million, an increase of 32.1 percent compared to net sales of $350.8 million in the prior year fourth quarter. Hain Celestial U.S. reported record net sales of $285.2 million, a 17.6 percent increase. In the United Kingdom, Hain Daniels' net sales were a record $121.1 million. The Rest of World segment reported net sales of $57.1 million. The Company had strong brand contribution across various sales channels led by double-digit growth from Earth's Best®, MaraNatha®, Spectrum®, The Greek Gods®, Linda McCartney®, Danival®, Alba Botanica® and Jason®. Net sales also included sales of brands acquired during fiscal year 2013 including Hartley's®, Ella's Kitchen®, BluePrint™ and Sun-Pat®.

The company earned income from continuing operations of $25.9 million compared to $35.7 million in the prior year fourth quarter and reported earnings per diluted share from continuing operations of $0.53 compared to $0.77 in the prior year fourth quarter. The prior year fourth quarter included the benefit of the reversal of contingent consideration in the amount of $15.5 million, or $0.33 per diluted share, from an earlier acquisition. Adjusted income from continuing operations was $31.7 million compared to $21.6 million, a 46.5% increase, and adjusted earnings per diluted share from continuing operations was $0.65 compared to $0.47 in the prior year fourth quarter. Adjusted amounts exclude a discrete tax benefit, acquisition-related expenses, integration and restructuring charges, factory start-up costs and unrealized currency gains.

Worldwide net sales for fiscal year 2013 were a record $1,734.7 million, an increase of 25.9 percent compared to net sales of $1,378.2 million in the prior year. Hain Celestial US reported record net sales of $1,095.9 million, a 10.5 percent increase. In the United Kingdom, Hain Daniels' net sales were a record $420.4 million. The Rest of World segment net sales were $218.4 million. The company had strong brand contribution across various sales channels led by double-digit growth from Earth's Best®, MaraNatha®, Spectrum®, The Greek Gods®, Garden of Eatin'®, Imagine® Europe's Best®, Linda McCartney®, Westbrae®, Hain Pure Foods®, Alba Botanica® and Jason®. Net sales also included sales of brands acquired during fiscal year 2013 including Hartley's®, Ella's Kitchen®, BluePrint™, Robertson's® and Sun-Pat®.

The company earned income from continuing operations of $119.8 million compared to $94.2 million in the prior year and reported earnings per diluted share from continuing operations of $2.52 compared to $2.05 in the prior year. Adjusted income from continuing operations was $120.2 million compared to $86.2 million, a 39.5 percent increase, and adjusted earnings per diluted share from continuing operations was $2.53 compared to $1.88 in the prior year. Adjusted amounts exclude one-time tax items, acquisition-related expenses, integration and restructuring charges, factory start-up costs and a reserve for litigation. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached a new high of $235.8 million during the fiscal year ended June 30, 2013.

"With record net sales, the highest in the company's history, we delivered a strong finish to the end of our fiscal year, and I am pleased with the results," said Irwin D. Simon, founder, president and chief executive officer of Hain Celestial, in a prepared statement. "Our U.S. business achieved outstanding sales along with improvements in other key performance measures. Hain Daniels delivered increased results as it transitioned to a growing, more profitable platform in the U.K., which we believe is well-positioned for accelerated growth. Our Rest of World segment, which includes Canada and Continental Europe, also delivered solid results."

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