Hain Celestial Group, Inc. (HAIN: Quote) Wednesday reported a rise in profit for the fourth quarter, helped mainly by higher revenues. The company also provided an outlook for the fiscal year 2013 which came in above analysts' expectations. Following the announcement, the company's shares rose 9.82 percent in the after-market hours.
Net income for the quarter increased to $23.4 million or $0.50 per share from $12.8 million or $0.28 per share in the same period last year.
Adjusted earnings were $21.7 million or $0.47 per share, compared to $16.5 million or $0.36 per share last year.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.45 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $350.8 million, up 22.3 percent from $286.9 million last year. Analysts expected revenues of $365.59 million.
Looking ahead to the fiscal year 2013, the company has forecast earnings in the range of $2.10 to $2.20 per share. Revenues are expected to range between $1.600 billion to $1.615 billion.
Analysts, based on consensus, currently expect the company to report full-year earnings of $1.80 per share on revenues of $1.42 billion.
Hain closed Wednesday's trade at $56.91, up 0.28%. Shares increased 9.82% to $62.50, gaining $5.59 in the extended trade on the Nasdaq.
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by RTT Staff Writer
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