Monster Beverage Reports 2016 Third Quarter Financial Results

--Third Quarter Net Sales Rise 4.1 percent to $788.0 million; Third Quarter Diluted Earnings per Share Increase 17.5 percent to $0.99 per share--

CORONA, Calif., Nov. 03, 2016 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ:MNST) today reported financial results for the three- and nine-months ended September 30, 2016.

Third Quarter ResultsNet sales for the 2016 third quarter increased 4.1 percent to $788.0 million from $756.6 million in the same period last year. Gross sales for the 2016 third quarter increased 5.9 percent to $913.3 million, from $862.4 million in the same period last year.  The comparative gross and net sales of $862.4 million and $756.6 million, respectively, for the 2015 third quarter were impacted by advance purchases made by the Company's customers due to a pre-announced price increase, effective August 31, 2015, ("Advance Purchases"), on certain of the Company's Monster Energy® brand energy drinks.  The Company estimates that gross and net sales for the 2015 third quarter increased by approximately $12.0 million and $11.0 million, respectively, as a result of such Advance Purchases. Gross and net sales for the 2016 third quarter, after adjusting the 2015 third quarter comparatives for Advance Purchases, increased by 7.4 percent and 5.7 percent, respectively. Unfavorable currency exchange rates reduced gross sales by approximately $4.8 million and net sales by approximately $2.6 million in the 2016 third quarter.

Net sales for the Company's Monster Energy® Drinks segment, which is comprised of the Company's Monster Energy® drinks as well as Mutant TM Super Soda, increased 3.4 percent to $710.1 million for the 2016 third quarter, from $686.7 million for the same period last year.  Net sales for the Company's Strategic Brands segment, which include the various energy drink brands acquired from The Coca-Cola Company, increased 3.2 percent to $72.1 million for the 2016 third quarter, from $69.9 million in the comparable 2015 quarter.  Net sales for the Company's Other segment, which includes certain products of American Fruits & Flavors sold to independent third parties, were $5.7 million for the 2016 third quarter. There were no net sales for the Other segment for the 2015 third quarter.

Net sales to customers outside the United States rose to $190.8 million in the 2016 third quarter, from $170.6 million in the corresponding quarter in 2015.

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