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Hain Celestial Group Post Q1
Posted: November 6, 2008The Hain Celestial Group, Inc. reported record first quarter net sales of $289.3 million, a 22% increase over the prior year's first quarter sales of $237.2 million. Net income in the first quarter was $7.0 million on a GAAP basis and $11.4 million after reflecting previously announced adjustments resulting from continuing personnel and facility costs related to the execution of its Stock Keeping Unit Rationalization Program.
"We are pleased that, even with the economic difficulties experienced in many markets, consumers increased their demand for our natural and organic food and personal care products," said Irwin D. Simon, president and CEO, The Hain Celestial Group. "We are also pleased to see that the sales momentum experienced in the first quarter continued through the month of October. Additionally, we believe our portfolio approach-in products, distribution channels and geographic markets-benefited our performance this quarter. Our new fiscal year began with continued strong sales in all our geographic markets-the United States, Canada, and Europe-across various distribution channels."
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