Hain Celestial Group Inc. (HAIN) Thursday reported a rise in third-quarter net income from continuing operations to $41.8 million or $0.87 per share, from $24.08 million or $0.54 per share last year. The latest quarter results included a tax benefit of $0.28 per share.
Net income for the third quarter was $40.7 million or $0.85 per share, compared to $24.1 million or $0.52 per share in the year-ago quarter.
Adjusted earnings from continuing operations for the quarter were $0.72 per share, compared to $0.56 per share last year. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.72 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the latest third quarter increased 21.4 percent to $456.1 million from $375.8 million last year. Analysts estimated revenues of $480.22 million for the quarter.
Looking forward to full year 2013, the company now expects earnings of $2.43 to $2.47 per share, and net sales in a range of $1.727 billion to $1.734 billion. Previously, the company expected earnings of $2.40 to $2.47 per share and net sales of $1.740 billion to $1.755 billion. Analysts currently estimate earnings of $2.46 per share on revenues of $1.74 billion.
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