HAIN Shares Jump On Guidance
Hain Celestial Group Inc (NASDAQ: HAIN) announced its earnings guidance for fiscal 2011 in the range of $1.24 to $1.31 per share. The company projected revenue in the range of $1.025 billion to $1.05 billion. Both the forecasts were higher than expected.
The leading natural and organic products company reported a net income of $6.7 million for the quarter ended June 30, as compared to $1.2 million in the year-ago period. The company’s sales fell to $222.8 million in the quarter, from $223.3 million in the same quarter in the prior year. For the full year, HAIN swung to a net income of $28.6 million, as compared to a loss of $29.4 million in the previous year. Its net sales dipped to $917.3 million, from $1.12 billion in the prior year.
HAIN shares jumped 6.56% to $22 at 2:15 pm EDT.
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