Natural and organic food company The Hain Celestial Group reported net sales of US$230.9m for the second quarter, a 24% increase compared with $186.2m in the prior year period, with positive results across its full portfolio.
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Adjusted earnings for the quarter totalled $0.38 per share on adjusted net income of $15.6m. The company successfully completed the previously announced start-up phase of the new production lines at its West Chester Frozen Foods Facility, with associated costs of $0.6m pre-tax.
In its fiscal year 2007 outlook the company raised its annual guidance for the year to reflect the recently completed acquisitions of Haldane Foods Limited and Avalon Natural Products, and expects full year fiscal 2007 sales of $900m to $920m and earnings per share of $1.16 to $1.21 based on 41.0m shares outstanding.
“I am pleased with our performance this quarter. We continue to see robust sales and strong consumption from our Garden of Eatin’, Earth’s Best, Arrowhead Mills, Rice Dream, Imagine and Health Valley soups, Ethnic Gourmet, Westbrae, Yves Veggie Cuisine and Spectrum brands as well as significant contributions from our personal care brands, Hain Celestial Canada and Hain Celestial Europe, including Hain Celestial United Kingdom,” said Irwin Simon, president and CEO of Hain Celestial.
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