Hain Celestial Income Up 82 Percent In 4Q
MELVILLE, N.Y. (AP) — Natural and organic food company Hain Celestial Group Inc. said on Wednesday that its fiscal fourth-quarter net income rose 82 percent as it benefited from growing sales of its products as well as acquisitions.
The company's forecast for fiscal 2013 earnings topped analysts' forecasts and its shares jumped almost 11 percent in extended trading.
Net income rose to $23.4 million, or 50 cents per share. A year earlier it was $12.8 million, or 28 cents per share.
Revenue rose 22 percent to $350.8 million, from $286.9 million a year earlier.
If not for one-time items, Hain Celestial said it would have earned 47 cents per share. Analysts surveyed by FactSet had been expecting on that basis a profit of 45 cents per share on revenue of $363.3 million.
For its full fiscal year it posted net income of $79.2 million, or $1.73 a share, up from $55 million, or $1.23 a share. Full-year revenue rose to $1.38 billion from $1.11 billion.
It also said it expects to earn on an adjusted basis between $2.10 and $2.20 a share in fiscal 2013, on revenue between $1.6 billion and $1.615 billion. Analysts had been forecasting $2.08 a share on $1.615 billion in revenue.
Shares in Hain Celestial rose $6.03 to $62.94 in after-hours trading following the release of the earnings report.