Yesterday afternoon we posted "Is the Future of Food Artisanal?":
...Innovative Food, Artisanal Brands, Hain CelestialWith no particular insight into the business.
When there’s as much demand as there is now for natural, organic foods, the industry’s going to start getting bigger than its devotees would like it to be. Innovative Food Holdings (IVFH), Artisanal Brands Inc. (AHFP), and Hain Celestial Group (HAIN) are snapping up artisan and organic food companies like whole-wheat hotcakes...
This morning Hain Celestial reported their fourth quarter.
The stock is up $9.18 at $66.09.
From Money Morning:
Rise in consumption, expanded distribution and productivity savings along with pricing facilitated The Hain Celestial Group Inc. (HAIN), to post strong fourth-quarter 2012 results. The company reported adjusted earnings of 47 cents a share, which surpassed the Zacks Consensus Estimate by couple of cents and jumped 30.6% from 36 cents earned in the prior-year quarter.There may be something to this artisanal food thing fter all.
Including one-time items, earnings came in at 50 cents compared with 28 cents a share earned in the year-ago quarter.
Revenue for the quarter rose 22.3% year over year to $350.7 million, reflecting rise in demand for natural organic products. The company noted that consumption in the U.S. grew 14%. Including sales of the United Kingdom private label chilled ready meals operations (discontinued business), revenue came in at $373.8 million, up 28% year over year. The Zacks Consensus Estimate was $366 million for the quarter....MORE