USA: The Hain Celestial Group reports fourth quarter and fiscal 2001 results
Reflecting its focus on increasing distribution of natural foods to consumers in the grocery channel and the expansion of its international presence, The Hain Celestial Group (Nasdaq: HAIN), the leading natural and organic food company, today announced a net sales increase of $12.3 million for the fourth quarter or 14% over the prior year period, totaling net sales of $99.3 million. For the 2001 fiscal year ended June 30, 2001, the Company reported a 6% increase in net sales compared to fiscal 2000 on a comparative basis, totaling $412.9 million. Hain Celestial announced earnings of $23.6 million, or $0.68 per share for fiscal 2001. For the fourth quarter, the Company reported earnings of $2.7 million, or $0.08 per share. As previously announced, higher marketing expenditures for its Westsoy brand and increased production costs for its Terra brand adversely impacted earnings in the fourth quarter, though these steps have positioned the brands for long-term market share growth.
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