Hain Celestial (HAIN) Will Delay 10-K Filing

August 30, 2016 4:33 PM EDT
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Hain Celestial (NASDAQ: HAIN) has determined that it is unable to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2016 (the “Form 10-K”) by August 29, 2016, the original due date for such filing. As disclosed in the Company’s Current Report on Form 8-K filed on August 15, 2016, during its fourth quarter, the Company identified concessions that were granted to certain distributors in the United States. The Company is currently evaluating whether the revenue associated with those concessions was accounted for in the correct period and is also currently evaluating its internal control over financial reporting. The Audit Committee of the Company’s Board of Directors is conducting an independent review of these matters and has retained independent counsel to assist in that review. As a result, the Company cannot, without unreasonable effort or expense, file its Form 10-K by the due date of August 29, 2016. The Company does not expect to file its Form 10-K until the completion of the Audit Committee’s review of these matters and the audit process relating to the 2016 fiscal year. While the Company continues to work expeditiously to conclude this review and file its Form 10-K as soon as practicable, the Company does not anticipate filing the Form 10-K within the fifteen-day period provided by Rule 12b-25.

As previously disclosed in the Company’s Current Report on Form 8-K filed on August 15, 2016, the Company does not expect to achieve its previously announced guidance for fiscal year 2016. The independent review of the Audit Committee and the Company’s evaluation of the effectiveness of its internal control over financial reporting are ongoing. Therefore, the Company is unable to provide a reasonable estimate of the results of operations for the fiscal year ended June 30, 2016 until such review and evaluation are complete.



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