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Friday, February 13, 2015
Hain Celestial reports 8 percent increase in profits
Hain Celestial, parent company of antibiotic-free and organic poultry company Hain Pure Protein, reported an 8 percent rise in profits during the second quarter of fiscal year 2015. The quarter ended December 31, 2014.
Hain Celestial’s net income for the quarter rose to $44.6 million or $0.43 per share, compared to $41.23 million or $0.42 per share for the same period of fiscal year 2014. The increase in net income came despite an after-tax charge of $4.5 million for a nut butter voluntary recall that occurred during the quarter.
The company also achieved record second-quarter net sales of $696.4 million and record adjusted net sales of $701.7 million, a 31 percent increase over the prior year period adjusted net sales.
"We delivered a strong quarter across our diverse portfolio of worldwide brands, overcoming foreign currency impacts to deliver our 17th consecutive quarter of year-over-year double digit sales and adjusted earnings growth," said Irwin D. Simon, founder, president and CEO of Hain Celestial. "I am happy to continue to see our organic growth across the business and our high single digit consumption growth in our U.S. business. The health and wellness industry has a robust outlook, and we are well-positioned to capitalize on this future growth with consumers through our distribution of branded organic, natural and better-for-you product offerings in over 65 countries."
Headquartered in Lake Success, New York, Hain Celestial has operations in the U.S., Europe and India.