Parent company of Celestial Seasonings and Rudi’s sees net income grow in 2017 – Colorado News

Parent company of Celestial Seasonings and Rudi’s sees net income grow in 2017 – Colorado News

LAKE SUCCESS, N.Y. — The Hain Celestial Group Inc. — parent company to brands such as Boulder-based Celestial Seasonings, Alba Botanica and Rudi’s Organic Bakery — grew its income from 46 cents per share in 2016 to 65 cents per share in 2017, according to an annual report filed with the U.S. Securities and Exchange Commission.

The New York-based company, which has operations in Boulder, had a net income of $67 million, up from $47 million the year prior. Net sales, however, fell slightly by $32 million from $2.89 billion in 2016 to $2.85 billion in 2017.

Gross profit in the fiscal year 2017 was $541 million, a decrease of nearly 12 percent from last year’s gross profit of $614 million. The company said gross profit was unfavorably impacted by pricing, trade investments and customer sales mix.

The company’s Boulder branch has four facilities, which produce Celestial Seasonings tea, kombucha, WestSoy tofu and meat-alternative products and Rudi’s organic bread products.

Under Celestial Seasonings, the company offers more than 70 varieties of herbal, green, black, wellness, rooibos and chai tea. Tea products were about 4 percent of consolidated net sales in 2017 for Hain Celestial Group Inc.

 

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