How Hain Celestial Might Go 9 Months Without Filing An Earnings Report

By virtue of an extension from Nasdaq, Hain Celestial Group Inc HAIN may go nine months without filing an earnings report. In fact, the company still needs to file its last year’s annual report, which should have been filed by August 29.

The Beginning

In mid-August, the Lake Success, New York-based Hain Celestial delayed the release of its fourth-quarter and full-year financial results and said it did not expect to achieve its previously announced guidance for fiscal 2016 after identifying issues with distributor payments and revenue recognition practices.

What's Happened Since

Following is a timeline of Hain Celestial's filing issues:

August 31: Hain Celestial received a letter from Nasdaq regarding its inability to timely file its Annual Report for the fiscal year ended June 30, 2016 with the SEC by August 29, 2016.

October 31: Hain submits plan to Nasdaq to regain compliance with Rule 5250(c)(1), which requires timely filing of periodic financial reports with the SEC.

November 3: The organic products maker reported that on November 2, Nasdaq staff sent a notice, granting an extension through February 27, 2017, to file its periodic reports with the SEC.

November 7 : Hain Celestial company spokesperson tells Benzinga when it has an estimate for when periodic reporting will resume it will issue a press release.

At the time of writing, shares of Hain Celestial were up 1.44 percent to $35.94. The stock is 37 percent off its 52-week high of $56.99.

HAINThe Hain Celestial Group Inc

$7.08-0.76%

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