Hain Celestial Reports 22 Percent Increase in Net Sales in Q3 2014
LAKE SUCCESS, NY
On the heels of its $61.3 million acquisition of Rudi’s Organic Bakery, Hain Celestial has reported record net sales for Q3 2014, ended March 31, 2014. Net sales increased 22% to $557.4 million, compared to $456.1 million in the same period last year. The company says the strong growth its due to brand contribution across various sales channels, led by Imagine®, The Greek Gods®, Spectrum®, Earth’s Best®, and more. The growth in net sales also resulted from sales of the Ella’s Kitchen® brand acquired in the fourth quarter of fiscal year 2013 and the Tilda® brand acquired in the third quarter of fiscal year 2014, according to the release.
“We are pleased with our record third quarter results, the highest net sales in the company’s history and our 13th consecutive quarter of year-over-year double digit net sales and adjusted earnings growth,” said Irwin D. Simon, Founder, President, and CEO. “We continue to experience strong demand for our organic and natural brands as demonstrated by the increasing consumption of our products. Today, our products are available on shelves across more geographies and sales channels, and we believe the opportunities ahead are even more compelling as we expand with new and existing customers.”
As a result of these record sales and to reflect the Rudi’s acquisition, Hain Celestial has raised its annual guidance for fiscal year 2014. The company expects total net sales range of $2.145 billion to $2.150 billion for fiscal year 2014, a 24% increase compared to fiscal year 2013; and earnings range of $3.14 to $3.17 per diluted share for fiscal year 2014; an increase of 24% to 25% as compared to fiscal year 2013.
Moving forward, Simon noted, “With several of our key commodities rising, we managed to control our costs and delivered productivity savings, which we expect to continue throughout the rest of this fiscal year and into fiscal year 2015. We expect additional integration opportunities from our BluePrint and Ella’s Kitchen acquisitions to continue into next year.”
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