Hain Celestial Reports Strong 1st Quarter Financial Results

Organic and natural products company Hain Celestial posted robust first quarter financial results, including $31 million in profit (up 67 percent over a year ago) on net sales of $687 million (up nine percent) increase. The company said both sales and profit were hurt by currency headwinds. CEO Irwin D. Simon said U.S. performance in snacks, yogurt, tea, and personal care brands was strong but “overshadowed by temporary disruptions from some of our distributor and retail customers as well as a decline in grocery brands.” For 2016, the company expects total net sales to reach $3 billion (up 15 percent), and profit per share to increase as much as 20 percent over 2015.