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Hain Celestial achieves strong sales in Personal Care
05
Feb '08
The Hain Celestial Group Inc a leading natural and organic food and personal care products company, reported results for its second fiscal quarter ended December 31, 2007.

Reflecting strong demand for Hain Celestial's portfolio of natural and organic brands, net sales reached $276.2 million, a 20% increase compared with $230.2 million in the prior year second quarter.

GAAP net income for the second quarter was $15.6 million, or $0.37 per diluted share, a 10% increase over the prior year's $14.2 million, or $0.34 per diluted share.

Adjusted earnings per diluted share for the quarter totaled $0.43 on adjusted net income of $17.9 million. The reported results include charges of $2.1 million ($1.3 million after tax or $0.03 per diluted share) of previously announced acquisition-related integration and manufacturing start-up costs at the Company's Fakenham facility in the United Kingdom, into which the frozen meat-free operations of Haldane Foods have been consolidated, and of $1.75 million ($1.1 million after tax or $0.03 per diluted share) for professional fees associated with the recently completed independent directors' review of the Company's stock options practices.

The continuing mark-to-market charge to reflect the Company's contractual obligation for ungranted stock options was not significant in the quarter.

"Our sustained and profitable growth continues, with strong sales this quarter from a range of our brands, including Earth's Best, Terra, Garden of Eatin, DeBoles, Arrowhead Mills, Imagine, Casbah, Spectrum, Yves, FreeBird, Ethnic Gourmet, Lima, and from the newly acquired Plainville Farms and our tofu operations. We also achieved strong sales in Personal Care, with Jason and the Avalon brands.


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