US-based organics group Hain Celestial posted a 46% drop in net income for its fiscal fourth quarter as a result of charges and continued acquisition integration.
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For the three months to 30 June, net income dropped to US$6.5m, or $0.16 per share, from $12.1m, or $0.29 per share in the same period last year.
The company said it would have earned $14m excluding previously announced adjustments resulting from its stock-keeping unit rationalisation programme, start-up costs in the UK, stock compensation related expenses and professional fees.
Operating income was also down on last year to $11.7m from $18.6m.
Net sales however, jumped 25% to $278.3m from $222.3m a year earlier.
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By GlobalDataFor the full year, net income was also down to $41.2m from $47.4m and operating income down to $76.7m from $84m. Net sales rose from $900.4m to $1.06bn.
Irwin Simon, president and CEO said sales were driven by the “successful introduction of new products”, continued contribution from existing brands, and a “sharp focus on improving expense efficiency and pricing”.
“With consumers staying at home more and the continuing expansion of our presence in grocery, mass-market and specialty retailers, along with strong performance in the natural channel, we are seeing indications that consumers have prioritised leading a healthy lifestyle, despite the challenging economy and inflationary pressures,” he added.
