Hain Celestial makes Fortune's fastest growing companies list
The brown bear appearing on boxes of Celestial Seasonings Sleepytime tea; a brand of The Hain Celestial Group, in Melville. Credit: Handout
The Hain Celestial Group, a Lake Success-based manufacturer of natural food products, was named to Fortune Magazine's list of the 100 Fastest Growing Companies in America Thursday.
The company, which produces items such as Terra Chips and Celestial Seasonings tea, was ranked No. 83 on the list, with an average revenue growth of 20 percent, profit growth of 58 percent and total returns of 48 percent over the last three years.
Hain Celestial also reported two straight quarters of record sales this year. Last week, the company posted second quarter sales of $465.3 million, a 32 percent increase from the same time in 2012. Profits were up 11 percent from the year-ago period, rising to $26 million.
In selecting companies for the list, Fortune said it looked at revenue, earnings per share and returns of public companies that have been trading on a U.S. exchange for the last three years.
Companies must have a stock price of at least $5 per share, a market capitalization of $250 million, sales of at least $50 million and profits of at least $10 million to be considered.
Updated now Newsday travel writer Scott Vogel took the ferry over to Block Island for a weekend of fun.
Updated now Newsday travel writer Scott Vogel took the ferry over to Block Island for a weekend of fun.
