Lake Success-based Hain Celestial Group Inc. Monday reported record second-quarter sales driven by brand growth and international acquisitions, despite a strong U.S. dollar hurting its international sales.
The organic and natural products company, with brands including Celestial Seasonings, Earth’s Best, Terra and Spectrum, posted second-quarter net sales of $752.6 million, an 8 percent increase from $696.4 million in the same quarter a year ago. Net sales were reduced by $18.3 million by foreign exchange rates.
Net income for the second quarter was $56.9 million, a 28 percent increase compared with $44.6 million in the corresponding period in 2014. Earnings per diluted share were 55 cents, a 28 percent increase. Adjusted net income was $55.5 million, or 54 cents a share.
Hain Celestial reiterated its fiscal 2016 revenue forecast of $2.90 billion to $3.04 billion, an increase of about 7 percent to 12 percent compared to fiscal 2015.
Shares of Hain Celestial fell 6 cents to $36.95 in after-hours trading on the Nasdaq Stock Market Monday. The company reported earnings after the end of regular trading. Hain shares are down nearly 30 percent in the past year.