Hain Celestial Posts Record Net Sales in Q3, Announces Acquisition
Hain Celestial results for the company's Q3 have been released. For the period, net sales notched a new all-time quarterly high, at $456 million, a 21% increase from Q3 2012's $376 million. Net profit amounted to $41 million ($0.85 per diluted share) from the year ago quarter's $24 million ($0.52).
Hain Celestial provided earnings guidance going forward. For the entirety of fiscal 2013, net sales are expected to be $1.727 billion-$1.734 billion, and diluted EPS should come in at $2.43-$2.47. If realized, the latter would represent a year-over-year increase of 31%-33%.
The company also announced it has acquired Ella's Kitchen Group, an infant food maker. This will be folded into a new Hain Celestial division, to be known as global infant, toddler & kids. The firm said its new asset, which posted sales of roughly $70 million in 2012, is expected to be accretive to its earnings by $0.05-$0.08 per diluted share in fiscal 2014. The terms of the deal were not made public.
The article Hain Celestial Posts Record Net Sales in Q3, Announces Acquisition originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Hain Celestial. The Motley Fool recommends Hain Celestial. The Motley Fool owns shares of Hain Celestial. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.