Hain Celestial Q4 Profit Meets Expectations

reported in-line earnings for its fiscal fourth quarter on Tuesday. The Lake Success, New York-based company reported a quarterly profit of $71.1 million, or $0.68 per share, compared to $35.7 million, or $0.35 per share, in the year-ago quarter. Excluding non-recurring items, the company's earnings rose 22 percent to $0.55 per share. Its revenue climbed 20 percent year-over-year to $698.1 million. However, analysts were expecting earnings of $0.55 per share on revenue of $697.87 million. The average estimate among 16 Estimize users was for earnings of $0.56 per share and revenue of $1.83 billion. Net sales for Hain Celestial US came in at $332.8 million, while sales in the United Kingdom totaled $184.9 million. "We ended the year with record net sales and earnings growth fueled by strong worldwide demand for our diverse portfolio of leading organic and natural brands across many product categories, sales channels and geographies," said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "We achieved these results while overcoming numerous challenges during the year including the largest voluntary recall in the Company's history, a fire that limited production for one of our largest brands and disruptions with some of our distributor and retail customers." For FY16, Hain Celestial projects earnings of $2.11 to $2.26 per share, on revenue of $2.97 billion to $3.11 billion. Analysts expected earnings of $2.19 per share on revenue of $2.98 billion. Hain Celestial shares fell 2.02 percent to $67.00 in pre-market trading.