Hain Celestial Reports 33 Percent Sales Growth, First Quarter 2014

The Hain Celestial Group, Inc. reported record first quarter results for its quarter ended Sept. 30, 2013 with net sales of $477.5 million, a 33 percent increase, compared to net sales of $359.8 million in the first quarter of fiscal year 2013. Hain Celestial U.S. reported record first quarter sales of $312.0 million, a 23 percent increase, including strong sales from Ella's Kitchen and BluePrint brands acquired after the first quarter of fiscal year 2013. The company had strong brand contribution across various sales channels led by double-digit growth from Earth's Best, Sensible Portions, Spectrum, The Greek Gods, Imagine, Arrowhead Mills, Hain Pure Foods, Bearitos, Lima, Danival, Natumi and Linda McCartney. The growth in net sales also resulted from sales of our Hartley's, Sun-Pat, Gale's, Robertson's and Frank Cooper's brands also acquired after the first quarter of fiscal year 2013.

For the first quarter, the company earned income from continuing operations of $27.7 million compared to $19.8 million in the prior year first quarter, a 40 percent increase, and reported earnings per diluted share from continuing operations of $0.57 compared to $0.42 in the prior year first quarter. Adjusted net income was $25.3 million compared to $19.2 million in the prior year first quarter, a 32 percent increase and adjusted earnings per diluted share was $0.52 compared to $0.41, a 27 percent increase. Adjusted amounts exclude acquisition-related expenses, integration and restructuring charges, factory start-up costs, unrealized currency gains and losses and a net discrete tax benefit.

The company reconfirmed its annual guidance for fiscal year 2014 and updated its first half of fiscal year 2014 earnings guidance. Total net sales range of $2.025 billion to $2.050 billion for fiscal year 2014, an increase of approximately 17 percent as compared to fiscal year 2013. Earnings range of $2.95 to $3.05 per diluted share for fiscal year 2014, an increase of 16 percent to 20 percent as compared to fiscal year 2013. Earnings range of $1.37 to $1.42 per diluted share for the first half of fiscal year 2014.

Loading