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UPDATE 1-Hain Celestial Q4 profit misses Street, shares down
August 25, 2009 / 9:04 PM / in 8 years

UPDATE 1-Hain Celestial Q4 profit misses Street, shares down

* Q4 EPS $0.28 vs est $0.32

* Q4 sales $262.7 mln vs est $287.40 mln

* Says reduced debt by $30.2 mln in Q4

* Sees 2010 EPS $1.19 to $1.28

* Shares down 9 pct

Aug 25 (Reuters) - Hain Celestial Group Inc (HAIN.O) posted a lower-than-expected quarterly profit, hurt mainly by foreign exchange rates and lower gross margins, and forecast 2010 profit below expectations, sending its shares down as much as 9 percent.

The organic food and personal care products company earned $1.3 million, or 3 cents a share, compared with $6.5 million, or 16 cents a share, a year ago.

Excluding items, Hain Celestial earned 28 cents a share.

Sales fell 6 percent to $262.7 million

Analysts on average were looking for a profit of 32 cents a share, before items, on revenue of $287.4 million.

The company said it has reduced its outstanding debt by $30.2 million in the fourth quarter.

Hain Celestial forecast 2010 earnings between $1.19 and $1.28 a share, on sales of between $1.01 billion and $1.03 billion.

Analysts on average had expected 2010 earnings of $1.37 a share on revenue of $1.2 billion.

Shares of the Melville, New York-based company were down $1.65 at $16.35 in after-market trade. They closed at $18.00 Tuesday on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Maju Samuel)

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