Hain Celestial Q3 Results Top Estimates; Lifts FY14 Forecast - Quick Facts

(RTTNews) - Organic and natural foods company Hain Celestial Group Inc. (HAIN) reported Thursday that its third-quarter net income declined to $35.24 million or $0.69 per share from last year's $40.72 million or $0.85 per share.

Earnings per share from continuing operations was $0.75, compared to $0.87 a year ago, which included a $0.28 one-time tax benefit

Adjusted net income from continuing operations was $44.5 million, compared to $34.4 million in the prior year. Adjusted earnings per share from continuing operations was $0.88, compared to $0.72 last year.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales climbed 22 percent to $557.42 million from last year's $456.09 million. Analysts projected sales of $556.87 million.

Further, Hain Celestial raised its annual guidance for fiscal year 2014 to reflect the Rudi's acquisition completed in April 2014 and year to date performance.

For the year, the company expects earnings in a range of $3.14 to $3.17 per share, an increase of 24 percent to 25 percent from last year. Total net sales are projected to range between $2.145 billion and $2.150 billion, an increase of approximately 24 percent.

The company previously expected earnings in a range of $3.07 to $3.15 per share and net sales of $2.12 billion to $2.15 billion.

Analysts expect earnings of $3.11 per share on net sales of $2.14 billion for the year.