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Current Position:Home » News » Marketing & Retail » Retail » Topic

Hein Celestial Quarterly Sales Blow Wall Street Views

Zoom in font  Zoom out font Published: 2013-05-03  Origin: Reuters  Views: 23
Core Tip: Hain Celestial Group Inc reported on Thursday that quarterly sales rose by 21 percent, but sales were below Wall Street views and its shares fell nearly 4 percent in after-hours trade.
Hain, the maker of Celestial Seasonings teas and Health Valley soups, also said it acquired premium baby food maker Ella's Kitchen Group Ltd for an undisclosed amount.

Hain reported net income of $40.7 million, or 85 cents per share, in the fiscal third quarter, ended on March 31, up from $24.1 million, or 52 cents per share, a year earlier.

Net sales rose to $456.1 million. That compared with analysts' average estimate of $480.8 million, according to Thomson Reuters I/B/E/S.

Hain said the acquisition of Ella's Kitchen, which operates largely in the United States, Britain and Scandinavia, should lift its earnings by 5 cents to 8 cents per share in fiscal 2014.

Shares fell to $63 in after-hours trade, from their close at $65.50 on the Nasdaq.

 
 
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