Hansen Natural Reports Record 2010 Third Quarter Financial Results
Net sales for the Company's DSD segment increased 26.8 percent to $356.7 million for the 2010 third quarter from $281.4 million for the same period in 2009. Net sales for the Company's warehouse segment were $24.7 million for the three-months ended September 30, 2010, compared with $26.5 million for the same period in 2009.
Gross sales to customers outside the United States rose to $69.8 million in the 2010 third quarter, compared with $50.0 million in the corresponding quarter in 2009.
Rodney C. Sacks, chairman and chief executive officer, attributed the record revenues to solid sales of Monster Energy® drinks. The Monster Energy® brand continues to gain market share, with sales increasing in excess of category growth. "During the third quarter, we launched Monster Absolutely Zero™ and Monster Import Light™ to address increased consumer demand for lower and zero calorie beverages," Sacks said. "We continued to make progress on the international front during the third quarter and launched the Monster Energy® brand in Germany, Europe's second largest energy drink market, and also in the United Arab Emirates, Lebanon, Jordan and Tahiti. We are in the process of launching the Monster Energy® brand in Switzerland, Austria and Iceland and are planning to launch Monster Energy® in Bulgaria before the end of the year," he added.
For the nine-months ended September 30, 2010, gross sales increased 14.8 percent to $1.124 billion from $979.7 million for the comparable period a year earlier. Net sales for the first nine months of 2010 increased 15.6 percent to $985.3 million from $852.4 million for the same period of 2009. Both gross and net sales for the fiscal 2009 fourth quarter and the 2010 first quarter were impacted by advance purchases made by customers in the fiscal 2009 fourth quarter due to the Company's announcement of a new per case marketing contribution program for Monster Energy® distributors commencing January 1, 2010, as well as to avoid potential interruptions in product supply due to the announcement of the transition to the SAP enterprise resource planning system which commenced January 1, 2010. The Company previously estimated that approximately 4 percent to 6 percent of its fiscal 2009 fourth quarter gross sales were attributable to such advance purchases.
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