2014 Q4 Form 10-Q Financial Statement

#000091040615000008 Filed on February 09, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $696.4M $534.9M
YoY Change 30.19% 17.47%
Cost Of Revenue $529.4M $391.8M
YoY Change 35.12% 20.72%
Gross Profit $150.4M $143.1M
YoY Change 5.09% 9.42%
Gross Profit Margin 21.59% 26.75%
Selling, General & Admin $78.24M $75.24M
YoY Change 4.0% 3.2%
% of Gross Profit 52.04% 52.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.296M $11.30M
YoY Change -26.58% 26.97%
% of Gross Profit 5.52% 7.9%
Operating Expenses $78.24M $75.24M
YoY Change 4.0% 3.2%
Operating Profit $68.00M $64.31M
YoY Change 5.73% 25.5%
Interest Expense -$8.800M -$6.000M
YoY Change 46.67% 81.82%
% of Operating Profit -12.94% -9.33%
Other Income/Expense, Net -$2.272M
YoY Change
Pretax Income $59.18M $58.36M
YoY Change 1.41% 21.71%
Income Tax $19.84M $19.75M
% Of Pretax Income 33.52% 33.84%
Net Earnings $39.65M $41.23M
YoY Change -3.83% 30.39%
Net Earnings / Revenue 5.69% 7.71%
Basic Earnings Per Share $0.39 $0.43
Diluted Earnings Per Share $0.38 $0.42
COMMON SHARES
Basic Shares Outstanding 101.3M shares 96.04M shares
Diluted Shares Outstanding 103.2M shares 98.37M shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.2M $67.50M
YoY Change 100.3% 58.45%
Cash & Equivalents $135.2M $67.53M
Short-Term Investments
Other Short-Term Assets $76.50M $54.00M
YoY Change 41.67% 23.85%
Inventory $372.1M $262.9M
Prepaid Expenses $50.88M $36.53M
Receivables $321.5M $252.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $905.4M $636.9M
YoY Change 42.15% 18.41%
LONG-TERM ASSETS
Property, Plant & Equipment $333.8M $255.3M
YoY Change 30.78% 17.0%
Goodwill $1.094B $920.4M
YoY Change 18.82% 2.96%
Intangibles $622.5M $489.9M
YoY Change 27.06% 15.45%
Long-Term Investments $6.600M $41.30M
YoY Change -84.02% -16.73%
Other Assets $29.89M $28.53M
YoY Change 4.76% 12.51%
Total Long-Term Assets $2.086B $1.735B
YoY Change 20.22% 7.7%
TOTAL ASSETS
Total Short-Term Assets $905.4M $636.9M
Total Long-Term Assets $2.086B $1.735B
Total Assets $2.992B $2.372B
YoY Change 26.11% 10.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $258.1M $197.7M
YoY Change 30.56% 12.08%
Accrued Expenses $81.86M $66.66M
YoY Change 22.81% 0.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $89.35M $181.0K
YoY Change 49262.98% -96.64%
Total Short-Term Liabilities $429.3M $264.6M
YoY Change 62.29% 2.36%
LONG-TERM LIABILITIES
Long-Term Debt $785.8M $627.5M
YoY Change 25.23% -1.19%
Other Long-Term Liabilities $4.550M $13.33M
YoY Change -65.86% -10.18%
Total Long-Term Liabilities $790.4M $640.8M
YoY Change 23.34% -1.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $429.3M $264.6M
Total Long-Term Liabilities $790.4M $640.8M
Total Liabilities $1.371B $1.021B
YoY Change 34.26% -2.17%
SHAREHOLDERS EQUITY
Retained Earnings $693.0M $558.7M
YoY Change 24.06% 32.03%
Common Stock $1.048M $497.0K
YoY Change 110.87% 3.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $52.27M $40.08M
YoY Change 30.41% 32.73%
Treasury Stock Shares 3.131M shares 1.453M shares
Shareholders Equity $1.621B $1.351B
YoY Change
Total Liabilities & Shareholders Equity $2.992B $2.372B
YoY Change 26.11% 10.38%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $39.65M $41.23M
YoY Change -3.83% 30.39%
Depreciation, Depletion And Amortization $8.296M $11.30M
YoY Change -26.58% 26.97%
Cash From Operating Activities $51.70M $19.90M
YoY Change 159.8% -41.47%
INVESTING ACTIVITIES
Capital Expenditures -$12.50M -$8.500M
YoY Change 47.06% -48.8%
Acquisitions
YoY Change
Other Investing Activities $4.000M $6.700M
YoY Change -40.3% -102.31%
Cash From Investing Activities -$8.400M -$1.800M
YoY Change 366.67% -99.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.800M -15.80M
YoY Change -124.05% -105.67%
NET CHANGE
Cash From Operating Activities 51.70M 19.90M
Cash From Investing Activities -8.400M -1.800M
Cash From Financing Activities 3.800M -15.80M
Net Change In Cash 47.10M 2.300M
YoY Change 1947.83% -62.9%
FREE CASH FLOW
Cash From Operating Activities $51.70M $19.90M
Capital Expenditures -$12.50M -$8.500M
Free Cash Flow $64.20M $28.40M
YoY Change 126.06% -43.87%

Facts In Submission

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us-gaap Depreciation Depletion And Amortization
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us-gaap Gross Profit
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us-gaap Gross Profit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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us-gaap Income Loss From Equity Method Investments
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Land
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style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, Terra</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, The Greek Gods</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, Tilda</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, WestSoy</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> and Yves Veggie Cuisine</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">. The Company&#8217;s personal care products are marketed under the Alba Botanica</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, Avalon Organics</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, Earth&#8217;s Best</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, JASON</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> and Queen Helene</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">&#174; </sup></font><font style="font-family:inherit;font-size:10pt;">brands.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company had a minority investment in Hain Pure Protein Corporation&#160;(&#8220;HPPC&#8221; or &#8220;Hain Pure Protein&#8221;) through June 30, 2014. HPPC processes, markets and distributes antibiotic-free, organic and other poultry products. On July 17, 2014, the Company acquired the remaining 51.3% of HPPC that it did not already own at which point HPPC became a wholly-owned subsidiary and a separate operating and reportable segment (see Notes 4 and 16). Hain also has an investment in a joint venture in Hong Kong with Hutchison China Meditech Ltd. (&#8220;Chi-Med&#8221;), a majority owned subsidiary of Hutchison Whampoa Limited, a company listed on the Alternative Investment Market, a sub-market of the London Stock Exchange, to market and distribute certain of the Company&#8217;s brands in China and other markets.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s operations are managed in five operating segments: United States, United Kingdom, HPPC, Canada and Europe. Refer to Note 16 for additional information and selected financial information for the reportable segments.</font></div></div>

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