Aug. 28--Hain Celestial Group Inc. of Melville, the nation's largest manufacturer of natural foods, remained healthy in its fiscal fourth quarter, which ended June 30, saying sales rose 25 percent, but profits declined, primarily because of previously announced charges, compared with the same period last year.
Hain also reported it has joined the billion-dollar club, saying its annual sales passed the $1-billion mark for the first time.
The company, Long Island's 14th largest in terms of sales, said sales in its latest quarter were $278.3 million, a 25 percent increase from the corresponding period last year.
Hain, which reported earnings after the market closed on Tuesday, said it earned $6.5 million in the quarter, compared with $12.1 million in its fiscal fourth quarter last year. But Hain said the decline in profits resulted from previously announced adjustments for combining some brands, stock-compensation related costs and professional fees.
Irwin Simon, Hain's chief executive, said in a statement that the company's results reflect a continuing trend to more healthy eating habits by consumers, despite the "challenging economy."
"With consumers staying at home more and the continuing expansion of our presence in grocery, mass-market and specialty retailers ... we are seeing indications that consumers have prioritized leading a healthy lifestyle, despite the challenging economy and inflationary pressures," Simon said.
Lazard Ltd., the financial advisory firm, recommended that investors "accumulate Hain [shares] aggressively at these levels."
Shares rose 73 cents yesterday, to close at $25.72.
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