Hain Celestial Nearly Doubles 4Q Income
The company, which makes Celestial Seasonings tea and Rice Dream rice milk, said its net income during the three months that ended June 30 rose 92% to $12.8 million, or $0.28 per share, from $6.7 million, or $0.16 per share, in the same period last year.
Excluding acquisition-related items, a tax item and a charge to reflect the lower value of its assets, it earned $0.35 per share. Analyst expected a smaller adjusted profit of $0.33 per share, according to FactSet.
Revenue rose 31% to $292 million from $222.8 million last year. Analysts expected lower revenue of $268.1 million.
"Indications are that, despite ongoing challenges in the economy, consumers continue to seek out healthful products from our natural and organic brands," said CEO Irwin Simon.
The company's full-year net income also rose 92%, to $55 million, or $1.23 per share. That's compared with net income of $28.6 million, or $0.69 per share, in the prior fiscal year.
Revenue rose 23% to $1.13 billion from $917.3 million.
In fiscal 2012, the company expects net income of $1.50 to $1.60 per share on revenue to $1.23 billion to $1.26 billion. Analysts expect net income $1.53 per share on revenue of $1.2 billion.
From the August 24, 2011, Prepared Foods' Daily News.