Hot stock to watch: The Hain Celestial Group, Inc. (HAIN) manufactures, markets, distributes and sells natural and organic products, reported its net income for the fourth fiscal quarter of 2012 reached $23.4 million, up 82.1% compared to $12.8 million for the same period of the prior year, thanks to the growth in sales as well as acquisitions. The company also announced business expansion in the United Kingdom today. HAIN stock price spiked up more than 19% Tursday, hitting 52-week highs.
For the fourth fiscal quarter, The Hain Celestial Group reported net income of $23.4 million, or $0.50 per share, compared to $12.8 million, or $0.28 per share. The company grew its revenue for the fourth fiscal quarter from $286.9 million a year earlier by 22% to $350.8 million. Excluding one-time items, net income came in at $0.47 per share, topping the average analyst estimate of $0.45 per share.
For the full fiscal year 2012, the company reported net income of $79.2 million on revenue of $1.38 billion, or $1.73 per share, compared to $55 million, or $1.23 per share on revenue of $1.11 billion in the same period last year.
For the fiscal year 2013, the company expects adjusted net income of $2.10 to $2.20, on revenue of $1.6 billion to $1.615 billion, exceeding the consensus estimate of net income of $2.08 per share on revenue of$1.615 billion.
The organic food company also announced to acquire the sweet spreads and jellies business of the U.K. food company Britain’s Premier Foods Plc for $316 million, to expand its operations in the United Kingdom.
The hot stock moved up 19.08%, or $10.86, to close at $67.77 on the Nasdaq in the regular trading session, on a volume of 4.80 million shares, well above the daily average of 504,294 shares. The stock continued to rise 0.19% in the after-hours trading session. The Hain Celestial Group has a market cap of $3.03 billion.