Hain Celestial Q1 Profit Down, Despite Higher Revenue; Backs FY15 Outlook

(RTTNews) - Hain Celestial Group, Inc. (HAIN) Thursday reported lower earnings for the first quarter, even as net sales rose year-over-year. Earnings were hurt by higher selling, general and administrative expenses during the quarter. In addition, the firm backed its annual outlook. Net income was down at $18.85 million or $0.37 per share compared to $27.65 million or $0.57 per share last year. Excluding certain items, the company earned $0.68 per share. Quarterly sales climbed to $631.3 million from $477.48 million a year ago.

Selling, general and administrative expenses rose to $90.92 million from $73.58 million last year. Looking ahead, for fiscal 2015, the firm continues to expect earnings per share in the range of $3.72 - $3.90, on net sales of $2.725 billion - $2.80 billion.