Hain Celestial (HAIN - Get Report) shares plummeted Tuesday morning after the organic food maker announced it will delay its annual earnings report with the SEC due to accounting issues. Hain also added it does not expect to reach prior earnings and sales guidance set for its fiscal year ended June 30. The company said it identified concessions that were granted in the fourth quarter to certain distributors in the United States. Hain added it will review whether sales associated with some of these concessions were properly booked for the correct accounting period. Hain shares were down about 27% in Tuesday morning trading.
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