Hain Celestial 2Q Income Rises

February 3/Boulder, Col./The Associated Press -- Health food and drink maker Hain Celestial Group Inc. said fiscal second-quarter net income rose 23%, as shoppers picked up its Earth’s Best, Celestial Seasonings and MaraNatha health food brands and expanded distribution

Net income for the three months ended December 31 rose to $20 million from $16.3 million. Excluding one-time costs, net income totaled $0.52 per share. Analysts had been expecting net income of $0.49 per share.

The company’s food products, which include brands like Celestial teas, cost more than other foods, making them susceptible to shoppers trading down and spending less in the weak economy. But shoppers focused on health appear to still be buying Hain’s brands.

Revenue rose 32% to $385.6 million from $291.9 million last year. Analysts expected revenue of $386.6 million.

For the fiscal year, the company confirmed guidance of net income of $1.63 to $1.73 per share on revenue of $1.46 billion to $1.48 billion. Analysts expect net income of $1.70 per share on revenue of $1.49 billion.

 From the February 3, 2012, Prepared Foods' Daily News.