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.