QUARTERLY FINANCIAL DATA (UNAUDITED)

A summary of the Company’s consolidated quarterly results of operations is as follows. The sum of the net income per share from continuing operations for each of the four quarters may not equal the net income per share for the full year, as presented, due to rounding.



	Three Months Ended
	June 30, 2019			March 31, 2019			December 31, 2018			September 30, 2018
Net sales	$	557,682		$	599,797		$	584,156		$	560,833
Gross profit	$	106,077		$	125,269		$	114,273		$	99,594
Operating income (loss)	$	740		$	23,865		$	(15,387	)	$	(24,104	)
(Loss) income before income taxes and equity in earnings of equity-method investees	$	(8,408	)	$	13,407		$	(24,577	)	$	(32,409	)
Net (loss) income from continuing operations	$	(7,654	)	$	10,088		$	(29,278	)	$	(23,101	)
Net loss from discontinued operations, net of tax	$	(5,897	)	$	(75,925	)	$	(37,223	)	$	(14,324	)
Net loss	$	(13,551	)	$	(65,837	)	$	(66,501	)	$	(37,425	)
Net (loss) income per common share:
Basic net (loss) income per common share from continuing operations	$	(0.07	)	$	0.10		$	(0.28	)	$	(0.22	)
Basic net loss per common share from discontinued operations	$	(0.06	)	$	(0.73	)	$	(0.36	)	$	(0.14	)
Basic net loss per common share	$	(0.13	)	$	(0.63	)	$	(0.64	)	$	(0.36	)
Diluted net (loss) income per common share from continuing operations	$	(0.07	)	$	0.10		$	(0.28	)	$	(0.22	)
Diluted net loss per common share from discontinued operations	$	(0.06	)	$	(0.73	)	$	(0.36	)	$	(0.14	)
Diluted net loss per common share	$	(0.13	)	$	(0.63	)	$	(0.64	)	$	(0.36	)

Net loss from continuing operations in the quarter ended June 30, 2019 was impacted by $4,393 ($3,558 net of tax) and $5,617 ($4,143 net of tax) non-cash impairment charges in the United Kingdom and United States, respectively, primarily associated with a write down of the value of certain machinery and equipment no longer in use, some of which was used to manufacture certain slow moving SKUs that were discontinued. Additionally, the Company recorded an inventory write-down of $10,346 ($7,606 net of tax) related to the discontinuation of additional slow moving SKUs in the United States as part of an ongoing product rationalization initiative.

Net loss from discontinued operations in the quarter ended March 31, 2019 included a pre-tax loss on sale on the disposition of the Plainville Farms business of $40,223 ($29,511 net of tax), to write down the assets and liabilities to the final sales price less costs to sell and asset impairments of $51,348 ($37,532 net of tax), each as a component of net loss on discontinued operations, net of tax.

The quarter ended December 31, 2018 was impacted by $10,148 ($7,484 net of tax) of Chief Executive Officer Succession Plan expense, net, $920 ($678 net of tax) related to professional fees associated with our internal accounting review and the independent review by the Audit Committee and other related matters, impairment charges of $17,900 ($13,374 net of tax) related to indefinite-lived intangible assets (trade names) and asset impairment charges in discontinued operations of $54,946 ($40,314 net of tax).

The quarter ended September 30, 2018 was impacted by $19,553 ($14,420 net of tax) of Chief Executive Officer Succession Plan expense, net, $3,414 ($2,518 net of tax) related to professional fees associated with our internal accounting review and the independent review by the Audit Committee and other related matters, $4,243 ($3,436 net of tax) primarily related to the closure of a manufacturing facility of fruit-based products in the United Kingdom and asset impairment charges in discontinued operations of $2,958 ($2,170 net of tax).



	Three Months Ended
	June 30, 2018			March 31, 2018			December 31, 2017		September 30, 2017
Net sales	$	619,598		$	632,720		$	616,232	$	589,219
Gross profit	$	125,097		$	133,013		$	133,950	$	123,388
Operating income	$	16,580		$	29,254		$	30,965	$	29,241
Income before income taxes and equity in earnings of equity-method investees	$	5,838		$	24,032		$	25,246	$	26,086
Net (loss) income from continuing operations	$	(4,556	)	$	25,241		$	43,130	$	18,613
Net (loss) income from discontinued operations, net of tax	$	(65,385	)	$	(12,555	)	$	3,973	$	1,233
Net (loss) income	$	(69,941	)	$	12,686		$	47,103	$	19,846
Net (loss) income per common share:
Basic net (loss) income per common share from continuing operations	$	(0.04	)	$	0.24		$	0.42	$	0.18
Basic net (loss) income per common share from discontinued operations	$	(0.63	)	$	(0.12	)	$	0.04	$	0.01
Basic net (loss) income per common share	$	(0.67	)	$	0.12		$	0.45	$	0.19
Diluted net (loss) income per common share from continuing operations	$	(0.04	)	$	0.24		$	0.41	$	0.18
Diluted net (loss) income per common share from discontinued operations	$	(0.63	)	$	(0.12	)	$	0.04	$	0.01
Diluted net (loss) income per common share	$	(0.67	)	$	0.12		$	0.45	$	0.19

The quarter ended June 30, 2018 was impacted by goodwill impairment charges of $7,700 ($5,553 net of tax) in the Hain Ventures (formerly known as Cultivate Ventures) operating segment, impairment charges of $5,632 ($5,192 net of tax) related to indefinite-lived intangible assets (trade names), as well as a $113 ($104 net of tax) impairment charge primarily related to the closure of manufacturing facilities in the United States. Additionally, the quarter ended June 30, 2018 was impacted by $2,887 ($1,941 net of tax) related to professional fees associated with our internal accounting review and remediation costs, net of insurance proceeds. Net loss from discontinued operations in the quarter ended June 30, 2018 was impacted by asset impairment charges of $78,464 ($52,699 net of tax) to adjust the carrying value of Hain Pure Protein to its fair value, less its cost to sell.

The quarter ended March 31, 2018 was impacted by impairment charges of $2,557 ($2,050 net of tax) primarily related to the closure of a manufacturing facility of certain soup products in the United Kingdom, as well as an impairment charge of $2,057 ($1,648 net of tax) related to the discontinuation of additional slow moving SKUs in the United States as part of an ongoing product rationalization initiative. Additionally, the quarter ended March 30, 2018 was impacted by $3,313 ($2,654 net of tax) related to professional fees associated with our internal accounting review and remediation costs.

The quarter ended December 31, 2017 was impacted by impairment charges of $3,449 ($2,593 net of tax) related to the closure of a facility in the United States, as well as $4,451 ($3,346 net of tax) related to professional fees associated with our internal accounting review and remediation costs.

The quarter ended September 30, 2017 was impacted by $3,642 ($2,638 net of tax) related to professional fees associated with our internal accounting review and insurance proceeds of $5,000 ($3,622 net of tax) related to the reimbursement of costs incurred as part of the internal accounting review and the independent review by the Audit Committee and other related matters.