04.05.07

4.5.2007: Meldung: Hain Celestial meldet Rekordergebnisse

MELVILLE, The Hain Celestial Group, Inc. (Nasdaq: HAIN - News), a leading natural and organic food and personal care products company, today reported record results for the third quarter ended March 31, 2007. The Company reported net sales of $237.9 million, a 21% increase, compared with $196.4 million in the prior year third quarter. Net income reached $12.4 million, an increase of 37% over the prior year third quarter of $9.1 million. Diluted earnings per share for the quarter totaled $0.30 per share compared to $0.23 per share in the prior year third quarter, a 30% increase.


"The successful execution of our strategy continues to accelerate our sales, margin and earnings growth from our broad portfolio of natural and organic brands in North America and Europe, including the United Kingdom," said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "In particular, we delivered strong performance this quarter in our Earth"s Best®, Terra®, Garden of Eatin"®, Rice Dream®, Spectrum®, Ethnic Gourmet®, Westbrae®, and FreeBird(TM) brands. Additionally, our personal care brands, including our recently acquired Avalon Organics® and Alba Botanica® brands, made significant contributions to both top- and bottom- line growth. Internationally, we are encouraged with the progress we are making in Hain Celestial Europe, and especially the United Kingdom, as we implement our strategy there and adjust our offerings to the specific overseas markets. In Europe, we saw strong sales performance from our Lima®, Natumi®, Terra and Rice Dream brands. In Asia, we are making significant progress with our plans for expansion with Singapore-based food and beverage company Yeo Hiap Seng Limited. We are also pleased that the operating efficiencies we have realized in the face of higher input costs contributed to our strong results."

"After warm weather in our second quarter continued into the early weeks of our third quarter, Celestial Seasonings® faced challenges in an overall challenged category. We will soon introduce restaged packaging at Celestial Seasonings, incorporating the brand"s strong history and tradition into an exciting new look. We will also be launching Saphara(TM), our new pyramid bag, premium organic tea to provide our consumers with "A Journey for the Senses." Despite the work ahead, these are exciting times for Celestial Seasonings as it responds to recent dynamics in the specialty tea market," Mr. Simon commented.

The Company reported gross margin of 29.7% in the third quarter, compared to 29.4% in the prior year third quarter. The 30 basis points margin improvement was achieved with productivity gains in the United States and Europe despite increasing input costs and the challenging selling conditions of the unusually warm weather impacting the Company"s Celestial Seasonings tea brand.

Selling, general and administrative expense for the third quarter was 19.8% of sales compared to 21.2% in the prior year, as the Company benefited from the integration of several of its recent acquisitions and disciplined trade spending.

Interest expense, net, in the third quarter was $2.8 million versus $1.6 million in the prior year quarter. The higher interest cost this year was the result of higher borrowings for the recent acquisition of Avalon Natural Products as well as from the Company"s $150 million 10-year 5.98% Senior Notes issued in May 2006.

The Company"s effective tax rate for the quarter was 38.7% versus 37.7% in the prior year quarter.

Average diluted shares outstanding for the quarter were 41.5 million, an increase of 2.0 million shares, or 5%, over the third quarter of the prior year. The increase resulted from additional shares issued for the exercise of employee stock options and higher equivalent shares included in the earnings per diluted share calculation as a result of the Company"s higher share price.

The Company"s balance sheet remains strong with $191.4 million in working capital and a current ratio of 2.5 at March 31, 2007. Debt as a percentage of equity was 33% with equity at $674.4 million. The number of days in the Company"s cash conversion cycle was 72 compared to 70 days in the prior year period. Operating free cash flow was $67.0 million for the trailing twelve months versus $20.7 million in the comparable period of the prior year, an increase of 224%.

"As we move forward to the end of our fiscal year and into fiscal 2008, we are focused on continuing to implement our long-term strategy to build brands in the natural and organic sector, create sustainable sales, margin and earnings growth, and leverage the platform we have built to expand our reach to consumers through varied channels in North America, Europe, the United Kingdom and Asia," concluded Irwin Simon.

Fiscal Year 2007 Outlook

The Company anticipates revenues of $223 to $227 million and earnings of $0.26 to $0.29 per share in the fourth quarter to conclude its fiscal year ending June 30, 2007.

Webcast and Upcoming Events

Hain Celestial will host a conference call and webcast at 4:15 PM Eastern Daylight Time today to review its third quarter fiscal year 2007 results. On May 8, 2007, the Company is scheduled to present at the Goldman Sachs Consumer Products Symposium in New York. On May 16, 2007, the Company is scheduled to present at the Bank of America 2007 SMid Cap Conference in Boston, where Irwin Simon will be the featured keynote speaker. These events will be available under the Investor Relations section of the Company"s website at http://www.hain-celestial.com.

The Hain Celestial Group

The Hain Celestial Group (Nasdaq: HAIN - News), headquartered in Melville, NY, is a leading natural and organic food and personal care products company in North America and Europe. Hain Celestial participates in almost all natural food categories with well-known brands that include Celestial Seasonings®, Terra Chips®, Garden of Eatin"®, Health Valley®, WestSoy®, Earth"s Best®, Arrowhead Mills®, DeBoles®, Hain Pure Foods®, FreeBird(TM), Hollywood®, Spectrum Naturals®, Spectrum Essentials®, Walnut Acres Organic(TM), Imagine Foods(TM), Rice Dream®, Soy Dream®, Rosetto®, Ethnic Gourmet®, Yves Veggie Cuisine®, Linda McCartney®, Realeat®, Lima®, Grains Noirs®, Natumi®, JASON®, Zia® Natural Skincare, Avalon Organics®, Alba Botanica® and Queen Helene®. For more information, visit http://www.hain-celestial.com.

Safe Harbor Statement

This press release contains forward-looking statements within and constitutes a "Safe Harbor" statement under the Private Securities Litigation Act of 1995. Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve known and unknown risks and uncertainties, which could cause our actual results to differ materially from those described in the forward- looking statements. These risks include but are not limited to general economic and business conditions; the ability to implement business and acquisition strategies and integrate acquisitions; competition; retention of key personnel; compliance with government regulations and other risks detailed from time-to-time in the Company"s reports filed with the Securities and Exchange Commission, including the report on Form 10-K for the fiscal year ended June 30, 2006. The forward-looking statements made in this press release are current as of the date of this press release, and the Company does not undertake any obligation to update forward-looking statements.


THE HAIN CELESTIAL GROUP, INC.
Consolidated Balance Sheets
(In thousands)

March 31, June 30,
2007 2006
(Unaudited) (Note)

ASSETS
Current assets:
Cash and cash equivalents $54,945 $48,875
Trade receivables, net 112,181 80,764
Inventories 124,179 105,883
Recoverable income taxes 3,148 -
Deferred income taxes 4,487 2,986
Other current assets 19,088 21,968
Total current assets 318,028 260,476

Property, plant and equipment, net 117,329 119,830
Goodwill, net 520,394 421,002
Trademarks and other intangible
assets, net 79,788 61,626
Other assets 15,748 14,750
Total assets $1,051,287 $877,684

LIABILITIES AND STOCKHOLDERS" EQUITY
Current liabilities:
Accounts payable and accrued
expenses $112,601 $81,894
Income taxes payable 13,435 3,083
Current portion of long-term debt 572 1,065
Total current liabilities 126,608 86,042

Deferred income taxes 20,847 19,086
Long-term debt, less current portion 223,877 151,229
Total liabilities 371,332 256,357

Minority Interest 5,531 4,926

Stockholders" equity:
Common stock 405 396
Additional paid-in capital 467,349 446,319
Retained earnings 201,252 165,034
Treasury stock (12,745) (12,745)
Foreign currency translation
adjustment 18,163 17,397
Total stockholders" equity 674,424 616,401

Total liabilities and
stockholders" equity $1,051,287 $877,684

Note: The balance sheet at June 30, 2006 is derived from the audited
financial statements at that date.



THE HAIN CELESTIAL GROUP, INC.
Consolidated Statements of Operations
(in thousands, except per share amounts)

Three Months Ended Nine Months Ended
March 31, March 31,
2007 2006 2007 2006
(Unaudited) (Unaudited)

Net sales $237,905 $196,443 $679,021 $543,767
Cost of sales 167,289 138,760 478,673 382,069
Gross profit 70,616 57,683 200,348 161,698

SG&A expenses 47,066 41,566 133,711 112,423

Operating income 23,550 16,117 66,637 49,275

Interest and other expenses, net 3,292 1,582 6,866 3,759
Income before income taxes 20,258 14,535 59,771 45,516
Income tax provision 7,842 5,472 23,553 17,224
Net income $12,416 $9,063 $36,218 $28,292


Basic per share amounts $0.31 $0.24 $0.93 $0.76

Diluted per share amounts $0.30 $0.23 $0.89 $0.73

Weighted average common shares
outstanding:
Basic 39,528 38,212 39,149 37,337
Diluted 41,500 39,547 40,909 38,514



THE HAIN CELESTIAL GROUP, INC.
Consolidated Statements of Operations With Adjustments
Reconciliation of GAAP Results to Non-GAAP Presentation
(in thousands, except per share amounts)

Three Months Ended March 31,
2007 Adjust- 2007 2006
GAAP ments Adjusted Adjusted(2)
(Unaudited)

Net sales $237,905 $237,905 $196,443
Cost of Sales 167,289 167,289 138,760
Gross profit 70,616 - 70,616 57,683

SG&A expenses 47,066 98 (2) 47,164 40,444


Operating income 23,550 (98) 23,452 17,239

Interest expense and other
expenses 3,292 3,292 1,582
Income before income taxes 20,258 (98) 20,160 15,657
Income tax provision 7,842 (38)(4) 7,804 5,909
Net income $12,416 $(60) $12,356 $9,748

Basic per share amounts $0.31 $- $0.31 $0.26

Diluted per share amounts $0.30 $- $0.30 $0.25

Weighted average common shares
outstanding:
Basic 39,528 39,528 38,212
Diluted 41,500 41,500 39,547

Nine Months Ended March 31,
2007 Adjust- 2007 2006
GAAP ments Adjusted Adjusted(2)
(Unaudited)

Net sales $679,021 $679,021 $543,767
Cost of Sales 478,673 $(1,749)(1) 476,924 382,069
Gross profit 200,348 1,749 202,097 161,698

SG&A expenses 133,711 (625)(2) 133,086 109,984

Operating income 66,637 2,374 69,011 51,714

Interest expense and other
expenses 6,866 264 (3) 7,130 3,759
Income before income taxes 59,771 2,110 61,881 47,955
Income tax provision 23,553 345 (4) 23,898 18,175
Net income $36,218 $1,765 $37,983 $29,780


Basic per share amounts $0.93 $0.04 $0.97 $0.80

Diluted per share amounts $0.89 $0.04 $0.93 $0.77

Weighted average common shares
outstanding:
Basic 39,149 39,149 37,337
Diluted 40,909 40,909 38,514

(1) Start-up costs at the Company"s West Chester Frozen Foods Facility.

(2) Adjustment in connection with the requirements of SFAS No. 123R to
record compensation when there is a contractual requirement to grant
stock options, whether or not such options have been granted. Each
quarter the Company marks to market the Black Scholes value of the
ungranted stock options. For the three and nine month periods ended
March 31, 2006, the SFAS No. 123R adjustment was $1,122 and $2,439,
respectively.

(3) The adjustment of $264 includes $2,510 pre-tax gain on the sale of
Biomarche, and $2,246 pre-tax charge for the unfavorable decision by
the German government regarding the application of VAT on non- dairy
beverages.

(4) Tax effects of the adjustments described above.


Source: The Hain Celestial Group, Inc.
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