Hain Celestial 3Q profit falls 33 percent on expenses

MELVILLE, N.Y.—Hain Celestial Group Inc., which makes natural and organic food and personal care products, said Monday its third quarter profit dropped 33 percent due to one-time expenses and costs.

For the quarter ended March 31, net income fell to $8.3 million, or 20 cents per share, from $12.4 million, or 30 cents per share in the prior year quarter.

Excluding expenses incurred in connection with a review of the company's stock option practices, implementation costs for a program that included eliminating some products, start-up costs at a manufacturing facility and other special items, the company said it earned 36 cents per share.

That result matched the mean estimate of analysts polled by Thomson Financial.

Revenue jumped 11 percent to $264.6 million from $238 million in the year-ago third quarter. Analysts predicted revenue of $272.3 million.

The company said its sales were helped by a shift by consumers to eating more at-home meals, which many see as less expensive than eating out.