Business
Hain Celestial Reports First Quarter Fiscal Year 2020 Financial Results
LAKE SUCCESS, N.Y., Nov. 7, 2019 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) ("Hain Celestial" or the "Company"), a leading organic and
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"LAKE SUCCESS, N.Y., Nov. 7, 2019 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\" or the \"Company\"), a leading organic and natural products company with operations in North America, Europe, Asia and the Middle East providing consumers with A Healthier Way of Life™, today reported financial results for the first quarter ended September 30, 2019. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations.\n\n \n\"We are pleased to report strong first quarter results that are consistent with both our fiscal year 2020 guidance and the long-term strategy we announced at our Investor Day last February,\" commented Mark L. Schiller, Hain Celestial's President and Chief Executive Officer. \"Our transformational strategic plan to simplify the portfolio and strengthen capabilities, while expanding margins and cash flow is on track and we are confident in our ability to reinvigorate top-line growth over time. We are reiterating our fiscal year 2020 guidance and look forward to creating shareholder value as we continue to execute on our initiatives.\"\nFINANCIAL HIGHLIGHTS1\nSummary of First Quarter Results from Continuing Operations2 \nNet sales decreased 7% to $482.1 million or 5% on a constant currency basis compared to the prior year period. When adjusted for Foreign Exchange and Acquisitions, Divestitures and certain other items, including the Stock Keeping Unit (\"SKU\") rationalization3, net sales decreased 1% compared to the prior year period. Gross margin of 20.3%, a 320 basis point increase over the prior year period. Adjusted gross margin of 20.9%, a 240 basis point increase over the prior year period. Operating income of $2.5 million compared to operating loss of $28.0 million in the prior year period. Adjusted operating income of $16.9 million compared to $17.0 million in the prior year period. Net loss of $5.0 million compared to a net loss of $23.1 million in the prior year period. Adjusted net income of $8.4 million compared to $9.0 million in prior year period. EBITDA of $17.7 million compared to a loss of $11.3 million in the prior year period. EBITDA margin of 3.7%, a 590 basis point improvement over the prior year period. Adjusted EBITDA of $32.1 million compared to $28.7 million in the prior year period. A...