Hain Celestial Announces 22 Percent Net Sales Increase For Q3 2014

The Hain Celestial Group, Inc.  reported record results for its third quarter ended March 31, 2014. The company reported net sales of $557.4 million, a 22 percent increase, compared to net sales of $456.1 million in the third quarter of fiscal year 2013.  Hain Celestial U.S. reported record third quarter net sales of $319.5 million, a 15 percent increase. In the U.K., net sales were $176.9 million, and the rest of world segment reported net sales of $61.0 million. The company had strong brand contribution across various sales channels led by Imagine®, The Greek Gods®, Spectrum®, Earth's Best®, Garden of Eatin'®, Sensible Portions®, Bearitos®, Terra®, Cully & Sully®, Hartley's®, Gale's®, Sun-Pat®, Frank Cooper's®, Robertson's®, Linda McCartney®, Lima®, Danival®, Natumi® and Alba Botanica®.  The growth in net sales also resulted from sales of the Ella's Kitchen® brand acquired in the fourth quarter of fiscal year 2013 and the Tilda® brand acquired in the third quarter of fiscal year 2014.

For the third quarter, the company earned adjusted net income from continuing operations of $44.5 million compared to $34.4 million in the prior year third quarter, a 29 percent increase and reported adjusted earnings per diluted share from continuing operations of $0.88 compared to $0.72, a 22 percent increase. Net income was $35.2 million compared to $40.7 million in the prior year third quarter when the company reported a tax benefit of $13.2 million, or $0.28 per diluted share, resulting from a worthless stock tax deduction for an investment in one of the company's U.K. subsidiaries. Full report.

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