Thursday, August 23, 2012

Hain Celestial (HAIN) Soars To New Highs, Big Lots, Inc.(NYSE:BIG) Slumps

The Hain Celestial Group, Inc.(NASDAQ:HAIN) late Wednesday reported an 82 percent rise in its fourth quarter income, sending its share up nearly 20 percent to $68.

The natural and organic food's net income rose to $23.4 million, or 50 cents per share. A year earlier it was $12.8 million, or 28 cents per share.

Revenue rose 22 percent to $350.8 million, from $286.9 million a year earlier.

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Excluding one-time items, the company earnings were 47 cents per share. Analysts had been expecting a profit of 45 cents per share on revenue of $363.3 million.

For its full fiscal year it posted net income of $79.2 million, or $1.73 a share, up from $55 million, or $1.23 a share. Full-year revenue rose to $1.38 billion from $1.11 billion.

It also said it expects to earn on an adjusted basis between $2.10 and $2.20 a share in fiscal 2013, on revenue between $1.6 billion and $1.615 billion. Analysts had been forecasting $2.08 a share on $1.615 billion in revenue.

Shares in Hain Celestial rose $6.03 to $62.94 in after-hours trading following the release of the earnings report.

Meanwhile Big Lots, Inc.(NYSE:BIG) posted a 38 percent fall in its second quarter net income and cut its full-year forecast, sending its shares tumbling 23.50.

For the quarter ended July 28, the company earned $22.1 million, or 36 cents per share, down from $35.7 million, or 50 cents per share, in the same quarter last year.

Revenue rose 4.4 percent to $1.22 billion from $1.17 billion.
Analysts, on average, expected a profit of 42 cents per share on $1.24 billion in revenue.

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Sales from U.S. operations rose 1.7 percent to $1.18 billion, while Canadian sales jumped to $35 million from $3.9 million a year ago.

Big Lots said it now expects to post a 2012 profit of $2.80 to $2.95 per share, down from its previous prediction of $3.25 to $3.45 per share.

Analysts expect a full-year profit of $3.30 per share.

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