SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
January 28, 2002
THE HAIN CELESTIAL GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-22818 22-3240619
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
- --------------------------------------------------------------------------------
58 South Service Road
Melville, New York 11747
- --------------------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (631) 730-2200
--------------
-2-
Item 5. Other Events
On January 28, 2002, The Hain Celestial Group, Inc. (the "Company")
announced that it expects revenue for the second quarter ended December 31, 2001
to increase to approximately $125 million, or approximately 9% on a comparative
basis with the year ago quarter.
A copy of the press release issued by the Company on January 28, 2002 is
attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. Description
99.1 Press release dated January 28, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE HAIN CELESTIAL GROUP, INC.
Dated: January 29, 2002 By: /s/ Ira J. Lamel
----------------------------------------
Name: Ira J. Lamel
Title: Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
99.1 Press release dated January 28, 2002
Exhibit 99.1
THE HAIN CELESTIAL GROUP COMMENTS ON EXPECTED SECOND QUARTER EARNINGS
MELVILLE, N.Y., Jan. 28 -- The Hain Celestial Group, Inc. (NASDAQ: HAIN) today
announced that it expects revenue for the second quarter ended December 31, 2001
to increase to approximately $125 million, or approximately 9% on a comparative
basis with the year ago quarter. The Company also said that it expects to report
earnings per share of $0.14 to $0.17 for the second quarter after deducting the
items discussed below.
The Company's earnings were impacted by approximately $0.06 per share as a
result of higher than anticipated costs associated with the start up of
production at the Company's new Terra Chips manufacturing facility in Moonachie,
NJ and the transition of production from the original Terra Chips facility in
Brooklyn, NY. These costs included: greater than expected costs incurred when
exiting the Brooklyn facility, including write offs of equipment originally
believed to have use at Moonachie; higher production costs associated with
longer than anticipated manufacturing of certain Terra products in Europe; and
marketing expenditures for customers that, prior to the opening of the Moonachie
facility, had not received Terra products due to wide product demand. Overall
sales and earnings growth for the quarter were also impacted by $0.07 per share
due to the unusually warm winter weather throughout the United States, which
slowed growth of the Company's sales of teas, soups and hot cereals.
Commenting on these preliminary results, Irwin Simon, chairman and chief
executive officer, said, "We have positioned ourselves well with the opening in
the second quarter of our new manufacturing facility in Moonachie. Despite
initial higher than expected costs from the transition between facilities, which
are now behind us, we have already surpassed the production levels of our former
Brooklyn facility. The new plant will enable us to concentrate much of our U.S.
production of Terra chips in this state-of-the-art facility, so that we can fuel
Terra's continued double-digit growth, and enable the brand to realize its full
potential. Performance of some of our other rocket brands, particularly Garden
of Eatin, Westsoy, Westbrae Natural, and Yves, remains strong."
Mr. Simon continued, "Average temperatures across the U.S. were 8 to 10 degrees
higher during November and December this year when compared to last year, and 3
to 5 degrees higher than average for those months since such records have been
kept. This impacted sales of our soups, teas, and hot cereals -- products whose
strongest performance comes during the winter's cold weather months."
The Hain Celestial Group will announce its second quarter earnings following the
market close on Thursday, February 7.
About The Hain Celestial Group
-2-
The Hain Celestial Group, headquartered in Melville, NY, is a natural, specialty
and snack food company. The Company is a leader in 13 of the top 15 natural food
categories, with such well-known natural food brands as Celestial Seasonings(R)
teas, Hain Pure Foods(R), Westbrae(R), Westsoy(R), Arrowhead Mills(R), Health
Valley(R), Breadshop's(R), Casbah(R), Garden of Eatin(R), Terra Chips(R), Yves
Veggie Cuisine(R), The Good Dog(R), The Good Slice(R), DeBoles(R), Earth's
Best(R), Nile Spice, and Lima & Biomarche(R) in Europe. The Company's principal
specialty product lines include Hollywood(R) cooking oils, Estee(R) sugar-free
products, Weight Watchers(R) dry and refrigerated products, Kineret(R) kosher
foods, Boston Better Snacks(R), and Alba Foods(R). The Hain Celestial Group's
website can be found at www.hain-celestial.com.
Statements made in this Press Release that are estimates of past or future
performance are based on a number of factors, some of which are outside of the
Company's control. Statements made in this Press Release that state the
intentions, beliefs, expectations or predictions of The Hain Celestial Group and
its management for the future are forward-looking statements. It is important to
note that actual results could differ materially from those projected in such
forward-looking statements. Information concerning factors that could cause
actual results to differ materially from those in forward- looking statements is
contained from time to time in filings of The Hain Celestial Group with the U.S.
Securities and Exchange Commission. Copies of these filings may be obtained by
contacting The Hain Celestial Group or the SEC.