Hain Celestial Fiscal 4Q Profit Drops

MELVILLE, N.Y. (AP) — The Hain Celestial Group Inc., which makes Celestial Seasonings tea, on Tuesday said fiscal fourth-quarter profit fell 81 percent, hurt by one-time costs for severance and other items.

Profit for the three months ended June 30 dropped to $1.3 million, or 3 cents per share, from $6.5 million, or 16 cents per share last year. Excluding one time items, including a stock option expense, costs related to reviewing stock option practices, severance and reorganization costs, net income was 28 cents per share.

Revenue fell 6 percent to $262.7 million from $278.3 million last year.

Analysts surveyed by Thomson Reuters, on average, predicted a profit of 30 cents per share on revenue of $287.4 million. Analyst estimates typically exclude one-time items.

For the fiscal year, net loss totaled $24.7 million, or 61 cents per share, from a profit of $41.2 million, or 99 cents per share last year.

Revenue rose 8 percent to $1.14 billion from $1.06 billion last year.