Business
Hain Celestial Reports Fourth Quarter and Fiscal Year 2020 Financial Results
Profitability at the High-End of Company Expectations Strong Margin Improvement Through Continued Execution of Transformational Plan Generated $92.8 Million
About this update from The Hain Celestial Group, Inc.
[{"type":"text","content":"Profitability at the High-End of Company Expectations\n Strong Margin Improvement Through Continued Execution of Transformational Plan\n Generated $92.8 Million in Operating Cash Flow During the Quarter\n\n\nLAKE SUCCESS, N.Y., Aug. 25, 2020 /PRNewswire/ -- The Hain Celestial Group, Inc. (Nasdaq: HAIN) (\"Hain Celestial\", \"Hain\" 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 fourth quarter and fiscal year ended June 30, 2020. The results contained herein are presented with the Hain Pure Protein and Tilda operating segments being treated as discontinued operations.\n\n \n \n \n \n \n \n\n \nMark L. Schiller, Hain Celestial's President and Chief Executive Officer, commented, \"We are pleased to report profitability at the high-end of our expectations for the fiscal year. Our results were strong because of our team's execution of our transformational strategic plan, which resulted in strong margin improvement and operating cash flow generation. In this dynamic operating environment, we believe we will maintain our positive momentum and remain committed to sustainable long-term growth as we deliver on our four key pillars for growth - portfolio simplification, capability building, cost control and sales acceleration.\" \nFINANCIAL HIGHLIGHTS1\nSummary of Fourth Quarter Results from Continuing Operations2 \nNet sales increased 1% to $511.7 million, or 3% on a constant currency basis, compared to the prior year period. When adjusted for Foreign Exchange, Divestitures, discontinued brands and Stock Keeping Unit (\"SKU\") rationalization3, net sales increased 7% compared to the prior year period. Gross margin of 25.4%, a 658 basis point increase from the prior year period. Adjusted gross margin of 25.3%, a 257 basis point increase from the prior year period. Operating income of $25.3 million compared to an operating loss of $2.6 million in the prior year period. Adjusted operating income of $47.9 million compared to $34.4 million in the prior year period. Net income of $3.7 million compared to a net loss of $7.3 million in the prior year period. Adjusted net income of $32.3 million compared to $19.9 million in prior year period. Adjusted EBITDA of $62.2 mil...