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TheStreet Open House

Monster Beverage Reports 2012 Fourth Quarter And Full Year Financial Results

Stocks in this article: MNST

-- Fourth Quarter Net Sales Rise 15.0% to $471.5 million -- -- Full Year Net Sales Rise 21.0% to $2.1 billion --

CORONA, Calif., Feb. 27, 2013 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (Nasdaq:MNST) today reported financial results for the three- and twelve-months ended December 31, 2012.

Gross sales for the 2012 fourth quarter increased 16.6 percent to $545.0 million from $467.3 million in the same period last year. Net sales for the three-months ended December 31, 2012 increased 15.0 percent to $471.5 million from $410.0 million a year ago.

Gross profit, as a percentage of net sales, for the 2012 fourth quarter was 51.7 percent, compared with 52.3 percent for the comparable 2011 quarter. Operating expenses for the 2012 fourth quarter increased to $130.0 million from $110.8 million in the same quarter last year.

Distribution costs as a percentage of net sales were 4.7 percent for the 2012 fourth quarter, compared with 4.4 percent in the same quarter last year.

Selling expenses as a percentage of net sales were 12.5 percent for both the 2012 and 2011 fourth quarters.

General and administrative expenses for the 2012 fourth quarter were $48.8 million, or 10.3 percent of net sales, compared with $41.5 million, or 10.1 percent of net sales, for the corresponding quarter last year. Stock-based compensation (a non-cash item) was $6.8 million in the fourth quarter of 2012, compared with $6.6 million for the fourth quarter of 2011.

Operating income for the 2012 fourth quarter increased 10.1 percent to $113.9 million from $103.4 million in the comparable 2011 quarter. Other expenses for the 2012 fourth quarter primarily included foreign currency losses, partially offset by interest income.

The effective tax rate for the 2012 fourth quarter was 39.1 percent, compared with 38.3 percent in the same quarter last year.

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