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  • The Hain Celestial Group is a leading organic and natural products company with operations in North America, Europe and India. Hain Celestial participates in many natural categories with well-known brands. Our mission is to be the leading marketer, manufacturer and seller of organic and natural, better-for-you products. We are committed to growing sustainably while continuing to implement environmentally sound business practices and manufacturing processes.
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Hain Celestial Announces Record Third Quarter Fiscal Year 2015 Net Sales and Adjusted Earnings Per Share
Net Sales Increase by 19%
Earnings Per Diluted Share $0.32
Adjusted Earnings Per Diluted Share $0.45
Updates Annual Guidance Including Recent Acquisitions

LAKE SUCCESS, N.Y., May 6, 2015 /PRNewswire/ -- The Hain Celestial Group, Inc. (NASDAQ:  HAIN), a leading organic and natural products company with operations in North America, Europe and India providing consumers with A Healthier Way of Life™, today reported results for its third quarter ended March 31, 2015.

The Hain Celestial Group, Inc.

Third Quarter Performance Highlights

  • Record third quarter net sales of $662.7 million, a 19% increase over the prior year period. Foreign exchange rate changes on a year-over-year basis impacted sales by $26 million.  Excluding the effect of these exchange rate changes, sales would have been $688.7 million, or a 24% increase over the prior year period.  
  • Earnings per diluted share of $0.32; adjusted earnings per diluted share of $0.45.  Unfavorable foreign currencies impacted reported results by $0.04 per diluted share and by $0.01 per adjusted diluted share.
  • Operating income of $60.2 million; adjusted operating income of $77.5 million.

"I am pleased with our third quarter results.  We had record third quarter net sales, as the strength of our core brands and contributions from acquisitions helped us to overcome foreign currency impacts to deliver our 18th consecutive year-over-year double digit net sales growth," said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial.  "Our team managed our expenses and focused on productivity improvements to deliver profitable worldwide expansion in the quarter, while we also experienced greater contribution from our Hain Pure Protein Corporation business as consumers today increasingly seek fresh, antibiotic-free and organic proteins to complement their healthy lifestyles." 

Third Quarter Fiscal Year 2015 
Hain Celestial US reported record third quarter net sales of $343.7 million, an increase of 8%, over the prior year third quarter.  In the United Kingdom, net sales were $178.1 million, and the Rest of the World segment reported net sales of $57.8 million, which includes the recently acquired Belvedere International with its Live Clean® brand.  The Hain Pure Protein segment (HPPC), which includes the recently acquired Empire® brand of kosher foods, reported net sales of $83.2 million.  The Company had strong brand contribution led by double digit growth in constant currency from Sensible Portions®, Tilda®, Ella's Kitchen®, The Greek Gods®, Terra®, Hain Pure Foods®, DeBoles®, Natumi®, Jason® and Avalon Organics®.  Net sales of Rudi's Organic Bakery®, Plainville Farms®, FreeBird®, Empire®, Kosher Valley® and Live Clean® brands acquired after the third quarter of fiscal year 2014 also contributed to the growth.

The Company earned net income of $33.4 million and adjusted net income of $46.5 million for the third quarter.  Earnings per diluted share for the third quarter were $0.32 and on an adjusted basis were $0.45.  Included in reported results for the third quarter is a non-cash partial impairment charge of $5.5 million ($4.4 million after-tax or $0.04 per diluted share) for an intangible asset related to the United Kingdom segment. Refer to Non-GAAP Financial Measures in this press release for adjustments.   

Fiscal Year 2015 Guidance 
The Company updated its annual net sales guidance for the acquisitions of Belvedere International with its Live Clean® personal care brand and Empire® brands during the third quarter and updated its earnings guidance. 

  • Total net sales range of $2.692 billion to $2.700 billion; an increase of approximately 25% as compared to fiscal year 2014.
  • Earnings range of $1.86 to $1.90 per diluted share; an increase of 17% to 20% as compared to fiscal year 2014.

Guidance is provided for continuing operations on a non-GAAP basis and excludes acquisition-related expenses, integration and restructuring charges, start-up costs, unrealized net foreign currency gains or losses, reserves for litigation settlements and other non-recurring items including any product recalls or market withdrawals that have been or may be incurred during the Company's fiscal year 2015, which the Company will continue to identify as it reports its future financial results.  Guidance excludes the impact of any future acquisitions.  

Segment Results
The Company's operations are managed into the following segments:  United States, United Kingdom, HPPC and Rest of World (comprised of Canada and Continental Europe). 

The following is a summary of third quarter and nine month results by reportable segment:

(dollars in thousands)

United
States

United
Kingdom

Hain Pure
Protein

Rest of World

Corporate/
Other

Total


NET SALES








Net sales - Three months ended 3/31/15

$          343,728

$          178,068

$             83,192

$             57,751

$                        -

$          662,739


Net sales - Three months ended 3/31/14

$          319,471

$          176,939

$                      -

$             61,010

$                        -

$          557,420










% change - FY'15 net sales vs. FY'14 net sales

7.6%

0.6%


-5.3%


18.9%


















OPERATING INCOME








Three months ended 3/31/15








Operating income

$             55,851

$             11,760

$               4,970

$               4,412

$           (16,799)

$             60,194


Non-GAAP Adjustments (1)

$               3,188

$               3,838

$                      -

$                       -

$             10,326

$             17,352


Adjusted operating income

$             59,039

$             15,598

$               4,970

$               4,412

$             (6,473)

$             77,546


Adjusted operating income margin

17.2%

8.8%

6.0%

7.6%


11.7%










Three months ended 3/31/14








Operating income

$             56,702

$             18,366

$                        -

$               5,100

$           (16,539)

$             63,629


Non-GAAP Adjustments (1)

$                       -

$                  913

$                        -

$                    65

$               7,649

$               8,627


Adjusted operating income

$             56,702

$             19,279

$                        -

$               5,165

$             (8,890)

$             72,256


Adjusted operating income margin

17.7%

10.9%


8.5%


13.0%


















(1) See accompanying table of "Reconciliation of GAAP Results to Non-GAAP Measures"

 


(dollars in thousands)

United
States

United
Kingdom

Hain Pure
Protein

Rest of World

Corporate/
Other

Total


NET SALES








Net sales - Nine months ended 3/31/15

$       1,034,612

$          551,144

$          240,078

$          164,545

$                        -

$       1,990,379


Non-GAAP Adjustments (1)

$            15,773

$                      -

$                      -

$                 928

$                        -

$            16,701


Adjusted net sales - Nine months ended 3/31/15

$       1,050,385

$          551,144

$          240,078

$          165,473

$                        -

$       2,007,080










Net sales - Nine months ended 3/31/14 (2)

$          959,191

$          436,985

$                        -

$          173,607

$                        -

$       1,569,783










% change - FY'15 adjusted net sales vs. FY'14 net sales

9.5%

26.1%


-4.7%


27.9%


















OPERATING INCOME








Nine months ended 3/31/15








Operating income

$          141,031

$             29,618

$             16,505

$             10,660

$          (34,781)

$          163,033


Non-GAAP Adjustments (1)

$            33,546

$             12,002

$                  140

$               2,187

$            12,822

$            60,697


Adjusted operating income

$          174,577

$             41,620

$             16,645

$             12,847

$          (21,959)

$          223,730


Adjusted operating income margin

16.6%

7.6%

6.9%

7.8%


11.1%










Nine months ended 3/31/14








Operating income

$          159,578

$             32,278

$                        -

$             11,544

$          (35,686)

$          167,714


Non-GAAP Adjustments (1)

$                 482

$               2,209

$                        -

$                  866

$            10,866

$            14,423


Adjusted operating income

$          160,060

$             34,487

$                        -

$             12,410

$          (24,820)

$          182,137


Adjusted operating income margin

16.7%

7.9%


7.1%


11.6%


















(1) See accompanying table of "Reconciliation of GAAP Results to Non-GAAP Measures"

(2) There were no non-GAAP adjustments to net sales for the nine months ended 3/31/14









Webcast 
Hain Celestial will host a conference call and webcast at 8:30 AM Eastern Time today to review its third quarter fiscal year 2015 results.  The conference call will be webcast and available under the Investor Relations section of the Company's website at www.hain.com.

Upcoming Events
The Company is scheduled to present at several conferences in May, all times indicated are eastern daylight saving time:  J.P. Morgan Global Consumer and Retail Conference on Tuesday, May 19, 2015 at 7:45 AM in London; BMO Capital Markets Farm to Market Conference on Thursday, May 21, 2015 at 11:00 AM and Citi 2015 Global Consumer Conference on Wednesday, May 27th at 11:20 AM, both in New York City.  A live audio webcast and a replay of the events will be available under the Investor Relations section of the Company's website at www.hain.com.

The Hain Celestial Group, Inc.
The Hain Celestial Group (NASDAQ: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe and India.  Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings®, Earth's Best®, Ella's Kitchen®, Terra®, Garden of Eatin'®, Sensible Portions®, Health Valley®, Arrowhead Mills®, MaraNatha®, SunSpire®, DeBoles®, Casbah®, Rudi's Organic Bakery®, Gluten Free Café™, Hain Pure Foods®, Spectrum®, Spectrum Essentials®, Walnut Acres Organic®, Imagine®, Almond Dream®, Rice Dream®, Soy Dream®, WestSoy®, The Greek Gods®, BluePrint®, FreeBird®, Plainville Farms®, Empire®, Kosher Valley®, Yves Veggie Cuisine®, Europe's Best®, Cully & Sully®, New Covent Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®, Hartley's®, Sun-Pat®, Gale's®, Robertson's®, Frank Cooper's®, Linda McCartney®, Lima®, Danival®, Natumi®, GG UniqueFiber®, Tilda®, JASON®, Avalon Organics®, Alba Botanica®, Live Clean® and Queen Helene®.  Hain Celestial has been providing A Healthier Way of Life™ since 1993.  For more information, visit www.hain.com.

Safe Harbor Statement 
Certain statements contained in this press release constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995.  Words such as "plan," "continue," "expect," "expected," "anticipate," "intend", "estimate," "believe," "seek", "may," "potential," "can," "positioned," "should," "future," "look forward", "outlook", and similar expressions, or the negative of those expressions, may identify forward-looking statements.  These forward-looking statements include the Company's beliefs or expectations relating to the Company's guidance for net sales and earnings per diluted share for fiscal year 2015.  Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the Company's actual results, levels of activity, performance or achievements of the Company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, the Company's ability to achieve its guidance for net sales and earnings per diluted share in fiscal year 2015 given the economic environment in the U.S. and other markets that it sells products as well as economic, political and business conditions generally and their effect on the Company's customers and consumers' product preferences, and the Company's business, financial condition and results of operations; changes in estimates or judgments related to the Company's impairment analysis of goodwill and other intangible assets, as well as with respect to the Company's valuation allowances of its deferred tax assets; the Company's ability to implement its business and acquisition strategy; the ability of the Company's joint venture investment to successfully execute its business plan; the Company's ability to realize sustainable growth generally and from investments in core brands, offering new products and its focus on cost containment, productivity, cash flow and margin enhancement in particular; the Company's ability to effectively integrate its acquisitions; the Company's ability to successfully consummate its proposed divestitures; the effects on the Company's results of operations from the impacts of foreign exchange; competition; the success and cost of introducing new products as well as the Company's ability to increase prices on existing products; availability and retention of key personnel; the Company's reliance on third party distributors, manufacturers and suppliers; the Company's ability to maintain existing customers and secure and integrate new customers; the Company's ability to respond to changes and trends in customer and consumer demand, preferences and consumption; international sales and operations; changes in fuel, raw material and commodity costs; changes in, or the failure to comply with, government regulations; the availability of organic and natural ingredients; the loss of one or more of the Company's manufacturing facilities; the ability to use the Company's trademarks; reputational damage; product liability; product recall or market withdrawal; seasonality; litigation; the Company's reliance on its information technology systems; and the other risks detailed from time-to-time in the Company's reports filed with the  SEC, including the annual report on Form 10-K for the fiscal year ended June 30, 2014.  As a result of the foregoing and other factors, no assurance can be given as to future results, levels of activity and achievements and neither the Company nor any person assumes responsibility for the accuracy and completeness of these statements.

Non-GAAP Financial Measures
This press release and the accompanying tables include non-GAAP financial measures, including  adjusted operating income, adjusted income from continuing operations, adjusted income per diluted share from continuing operations, adjusted EBITDA (defined below) and operating free cash flow.  The reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures are presented in the tables "Reconciliation of GAAP Results to Non-GAAP Measures" for the three months and nine months ended March 31, 2015 and 2014 and in the paragraphs below.  Management believes that the non-GAAP financial measures presented provide useful additional information to investors about current trends in the Company's operations and are useful for period-over-period comparisons of operations.  These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures.  In addition, these non-GAAP measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded.  They should be read only in connection with the Company's Consolidated Statements of Income presented in accordance with GAAP. 

The Company defines adjusted EBITDA as net income (a GAAP measure) before income taxes, net interest expense, depreciation and amortization, impairment of long lived assets, equity in the earnings of non-consolidated affiliates, stock based compensation, acquisition-related expenses, including integration and restructuring charges, and other non-recurring items.  The Company's management believes that this presentation provides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its results of operations and financial condition.  In addition, management uses this measure for reviewing the financial results of the Company and as a component of performance-based executive compensation. 

For the three and nine months ended March 31, 2015 and 2014, adjusted EBITDA was calculated as follows:





3 Months Ended

6 Months Ended




3/31/2015

3/31/2014

3/31/2015

3/31/2014




(dollars in thousands)


Net Income

$          33,394

$          35,241

$          96,824

$         104,127


Income taxes

18,147

19,748

45,144

48,247


Interest expense, net

5,670

5,699

17,644

16,193


Depreciation and amortization

14,163

12,789

43,064

34,597


Impairment of long lived assets

6,514

-

6,514

-


Equity in earnings of affiliates

13

(83)

(315)

(2,128)


Stock based compensation

2,935

3,020

8,934

9,657


Subtotal

80,836

76,414

217,809

210,693


Adjustments (a)

7,916

11,405

45,927

16,052


Adjusted EBITDA

$          88,752

$          87,819

$         263,736

$          226,745









(a) The adjustments include all adjustments in the table "Reconciliation of GAAP Results to Non-GAAP Measures" except for unrealized currency impacts,  gain on disposal of investment held for sale, interest accretion and other items, net and taxes. It also includes loss from discontinued operations, net of tax.

The Company defines Operating Free Cash Flow as cash provided from or used in operating activities (a GAAP measure) less capital expenditures.  The Company views operating free cash flow as an important measure because it is one factor in evaluating the amount of cash available for discretionary investments.  For the nine-months ended March 31, 2015 and 2014, operating free cash flow was calculated as follows:


9 Months Ended


3/31/2015


3/31/2014


(dollars in thousands)

Cash flow provided by operating activities

$

70,169



$

122,281


Purchases of property, plant and equipment

(36,312)



(30,724)


Operating free cash flow

$

33,857



$

91,577


Operating free cash flow for the nine-months ended March 31, 2015 was $33.9 million, compared to $91.6 million in the prior year period.  Our current period operating free cash flow was impacted primarily by the effects of our MaraNatha® nut butter recall and working capital requirements on a higher sales base.

 

THE HAIN CELESTIAL GROUP, INC.

Consolidated Balance Sheets

(In thousands)










March 31,

2015


June 30,

2014




 (unaudited) 









ASSETS




Current assets:





Cash and cash equivalents

$            100,325


$          123,751


Accounts receivable, net

337,516


287,915


Inventories

369,968


320,251


Deferred income taxes

26,581


23,780


Prepaid expenses and other current assets

46,514


47,906



Total current assets

880,904


803,603







Property, plant and equipment, net

325,966


310,661

Goodwill, net

1,107,328


1,134,368

Trademarks and other intangible assets, net

631,866


651,482

Investments and joint ventures

3,449


36,511

Other assets

31,686


28,692



Total assets 

$         2,981,199


$       2,965,317







LIABILITIES AND STOCKHOLDERS' EQUITY




Current liabilities:





Accounts payable

$            226,497


$          239,162


Accrued expenses and other current liabilities

82,319


84,906


Current portion of long-term debt

33,870


100,096



Total current liabilities

342,686


424,164







Long-term debt, less current portion

845,103


767,827

Deferred income taxes 

159,743


148,439

Other noncurrent liabilities

5,834


5,020



Total liabilities

1,353,366


1,345,450







Stockholders' equity:





Common stock *

1,058


1,031


Additional paid-in capital *

1,064,341


969,182


Retained earnings

726,442


629,618


Accumulated other comprehensive income (loss)

(105,937)


60,128


  Subtotal

1,685,904


1,659,959


Treasury stock

(58,071)


(40,092)



Total stockholders' equity

1,627,833


1,619,867









Total liabilities and stockholders' equity

$         2,981,199


$       2,965,317













*

Amounts as of June 30, 2014 have been retroactively adjusted to reflect a two-for-one


stock split of our common stock in the form of a 100% stock dividend.

 

THE HAIN CELESTIAL GROUP, INC.

 Consolidated Statements of Income 

 (in thousands, except per share amounts) 












Three Months Ended March 31,


Nine Months Ended March 31,



2015


2014


2015


2014



(Unaudited)


(Unaudited)










Net sales


$             662,739


$             557,420


$          1,990,379


$          1,569,783

Cost of sales


504,990


404,627


1,539,459


1,154,790

Gross profit


157,749


152,793


450,920


414,993










Selling, general and administrative expenses


83,068


78,268


262,613


227,092

Amortization/impairment of acquired intangibles


10,189


4,133


19,001


11,248

Acquisition related expenses including integration and

   restructuring charges, net


4,298


6,763


6,273


8,939










Operating income


60,194


63,629


163,033


167,714










Interest expense and other expenses, net


8,640


5,946


21,380


15,839

Income before income taxes and equity in earnings of

   equity-method investees


51,554


57,683


141,653


151,875

Income tax provision


18,147


19,748


45,144


48,247

Loss (income) of equity-method investees, net of tax


13


(83)


(315)


(2,128)










Income from continuing operations


33,394


38,018


96,824


105,756

Loss from discontinued operations, net of tax


-


(2,777)


-


(1,629)










Net income


$               33,394


$               35,241


$               96,824


$             104,127










Basic net income per share *:









     From continuing operations


$                   0.33


$                   0.38


$                   0.95


$                   1.09

     From discontinued operations


-


(0.03)


-


(0.02)

Net income per share - basic


$                   0.33


$                   0.35


$                   0.95


$                   1.07










Diluted net income per share *:









     From continuing operations


$                   0.32


$                   0.37


$                   0.94


$                   1.07

     From discontinued operations


-


(0.03)


-


(0.02)

Net income per share - diluted


$                   0.32


$                   0.34


$                   0.94


$                   1.05



















Weighted average common shares outstanding *:









Basic


102,252


99,390


101,401


96,946

Diluted


103,796


101,502


103,226


99,246



















*  Share and per share amounts for the three and nine months ended March 31, 2014 have been retroactively adjusted to reflect

    a two-for-one stock split of our common stock in the form of a 100% stock dividend.

 

THE HAIN CELESTIAL GROUP, INC.

 Reconciliation of GAAP Results to Non-GAAP Measures 

 (in thousands, except per share amounts) 










Three Months Ended March 31,



2015 GAAP

Adjustments


2015 Adjusted

2014 Adjusted



(Unaudited)








Net sales


$               662,739

$                         -


$                  662,739

$                    557,420

Cost of sales


504,990

(5,928)


499,062

403,531

Gross profit


157,749

5,928


163,677

153,889








Selling, general and administrative expenses


83,068

(1,616)


81,452

77,500

Amortization/impairment of acquired intangibles


10,189

(5,510)


4,679

4,133

Acquisition related expenses including integration and

   restructuring charges, net


4,298

(4,298)


-

-








Operating income


60,194

17,352


77,546

72,256








Interest expense and other expenses, net


8,640

(2,216)


6,424

6,859

Income before income taxes and equity in earnings of

   equity-method investees


51,554

19,568


71,122

65,397

Income tax provision


18,147

6,427


24,574

21,116

Loss (income) of equity-method investees, net of tax


13

-


13

(241)








Income from continuing operations


$                 33,394

$                 13,141


$                    46,535

$                      44,522















Income per share from continuing operations - basic *


$                     0.33

$                     0.13


$                        0.46

$                          0.45

Income per share from continuing operations - diluted *


$                     0.32

$                     0.13


$                        0.45

$                          0.44








Weighted average common shares outstanding *:







Basic


102,252



102,252

99,390

Diluted


103,796



103,796

101,502
























FY 2015


FY 2014



Impact on Income

Before Income Taxes

Impact on Income Tax

Provision


Impact on Income

Before Income Taxes

Impact on Income Tax

Provision



(Unaudited)








Ashland factory and related expenses


$                   2,142

$                      814


$                              -

$                               -

UK factory start-up costs


2,512

521


977

230

Other integration costs


1,274

427


119

27

Cost of sales


5,928

1,762


1,096

257








Tilda insurance consultancy and other start-up/integration costs


1,098

275


-

-

Litigation expenses


518

197


768

292

Selling, general and administrative expenses


1,616

472


768

292








Tradename impairment charge


5,510

1,102


-

-

Amortization/impairment of acquired intangibles


5,510

1,102


-

-








Acquisition related fees and expenses, integration and

   restructuring charges


4,298

1,463


6,918

2,481

Contingent consideration (income) expense, net


-

-


(155)

-

Acquisition related expenses including integration and

   restructuring charges, net


4,298

1,463


6,763

2,481








Unrealized currency impacts


5,141

1,628


(524)

(213)

Gain on pre-existing investment in Empire Kosher


(2,922)

-


-

-

Gain on disposal of investment held for sale


(3)

-


(467)

(177)

Interest accretion and other items, net


-

-


78

20

Interest expense and other expenses, net


2,216

1,628


(913)

(370)








Hain Pure Protein Corporation mortality losses


-

-


158

-

Loss (income) of equity-method investees, net of tax


-

-


158

-








Nondeductible acquisition related transaction expenses


-

-


-

(1,292)

Income tax provision


-

-


-

(1,292)








Total adjustments


$                 19,568

$                   6,427


$                      7,872

$                        1,368















*  Share and per share amounts for the three months ended March 31, 2014 have been retroactively adjusted to reflect

    a two-for-one stock split of our common stock in the form of a 100% stock dividend.

 

THE HAIN CELESTIAL GROUP, INC.

 Reconciliation of GAAP Results to Non-GAAP Measures 

 (in thousands, except per share amounts) 










Nine Months Ended March 31,



2015 GAAP

Adjustments


2015 Adjusted

2014 Adjusted



(Unaudited)








Net sales


$            1,990,379

$                 16,701


$               2,007,080

$                 1,569,783

Cost of sales


1,539,459

(25,059)


1,514,400

1,150,753

Gross profit


450,920

41,760


492,680

419,030








Selling, general and administrative expenses


262,613

(7,154)


255,459

225,645

Amortization/impairment of acquired intangibles


19,001

(5,510)


13,491

11,248

Acquisition related expenses including integration and

   restructuring charges, net


6,273

(6,273)


-

-








Operating income


163,033

60,697


223,730

182,137








Interest expense and other expenses, net


21,380

(2,466)


18,914

18,924

Income before income taxes and equity in earnings of

   equity-method investees


141,653

63,163


204,816

163,213

Income tax provision


45,144

23,257


68,401

52,964

Loss (income) of equity-method investees, net of tax


(315)

-


(315)

(2,286)








Income from continuing operations


$                 96,824

$                 39,906


$                  136,730

$                    112,535















Income per share from continuing operations - basic *


$                     0.95

$                     0.40


$                        1.35

$                          1.16








Income per share from continuing operations - diluted *


$                     0.94

$                     0.38


$                        1.32

$                          1.13








Weighted average common shares outstanding *:







Basic


101,401



101,401

96,946

Diluted


103,226



103,226

99,246

















FY 2015


FY 2014



Impact on Income

Before Income Taxes

Impact on Income Tax

Provision


Impact on Income

Before Income Taxes

Impact on Income Tax

Provision



(Unaudited)

Nut butter recall


$                 15,773

$                   5,994


-

-

European non-dairy beverage withdrawal


928

316


-

-

Net sales


16,701

6,310


-

-















Nut butter recall


9,428

3,583


-

-

European non-dairy beverage withdrawal


1,259

428


-

-

Fakenham allowance for fire


900

187


-

-

Ashland factory and related expenses


2,142

814


-

-

UK factory start-up costs


8,533

1,770


3,120

814

Acquisition related and other integration costs


2,797

817


480

109

Co-pack contract termination costs


-

-


437

166

Cost of sales


25,059

7,599


4,037

1,089








Nut butter recall


4,909

1,864


-

-

Tilda insurance consultancy and other start-up/integration costs


1,354

352


-

-

Litigation expenses


891

339


1,223

465

Expenses related to third party sale of common stock


-

-


224

85

Selling, general and administrative expenses


7,154

2,555


1,447

550








Tradename impairment charge


5,510

1,102


-

-

Amortization/impairment of acquired intangibles


5,510

1,102


-

-








Acquisition related fees and expenses, integration and

   restructuring charges


5,992

2,100


10,875

3,795

Contingent consideration (income) expense, net


281

-


(1,936)

(1,117)

Acquisition related expenses including integration and

   restructuring charges, net


6,273

2,100


8,939

2,678








Unrealized currency impacts


10,957

3,561


(2,941)

(1,260)

Gain on pre-existing investments in HPPC and Empire Kosher


(8,256)

-


-

-

Gain on disposal of investment held for sale


(314)

-


(701)

(266)

Interest accretion and other items, net


79

30


557

184

Interest expense and other expenses, net


2,466

3,591


(3,085)

(1,342)








Hain Pure Protein Corporation mortality losses


-

-


158

-

Loss (income) of equity-method investees, net of tax


-

-


158

-








Discrete tax benefit resulting from enacted tax rate change


-

-


-

3,777

Increase in unrecognized tax benefits


-

-


-

(550)

Nondeductible acquisition related transaction expenses


-

-


-

(1,485)

Income tax provision


-

-


-

1,742








Total adjustments


$                 63,163

$                 23,257


$                    11,496

$                        4,717















*  Share and per share amounts for the nine months ended March 31, 2014 have been retroactively adjusted to reflect

    a two-for-one stock split of our common stock in the form of a 100% stock dividend.

Logo - http://photos.prnewswire.com/prnh/20130502/NY06743LOGO

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hain-celestial-announces-record-third-quarter-fiscal-year-2015-net-sales-and-adjusted-earnings-per-share-300078397.html

SOURCE The Hain Celestial Group, Inc.

Stephen Smith/Mary Anthes, The Hain Celestial Group, Inc., 516-587-5000

 
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