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Meldungen 14.05.2003

14.5.2003: Meldung: Hansen Natural Corp.: First Quarter Results

Hansen Natural Corporation (Nasdaq:HANS - News) today reported record sales for the first quarter ended March 31, 2003, reflecting new product introductions and growth in core beverage lines.

 

Gross sales for the second quarter increased 23.1% to $27.7 million from $22.5 million a year earlier. Net sales for the first quarter increased 18.8% to $22.1 million from $18.6 million a year ago.

 

Operating income for the first quarter advanced 43.3% to $1.1 million, from $765,000 a year ago. Net income for the first quarter increased 54.2% to $633,000, equal to $.06 per diluted share, from $411,000, or $.04 per diluted share, last year.

 

Rodney C. Sacks, chairman and chief executive officer, said: "Our record sales and profit performance in the first quarter of 2003 reflect the strength of the company"s new Monster Energy(TM) drink and the Hansen"s brand. Monster Energy, Hansen"s Diet Red Energy, which was introduced in October 2002, as well as natural sodas in cans, Junior Juice®, apple juice and juice blends all contributed to the increase in sales."

 

The sales increase was partially offset by lower sales of functional drinks, E(2)O Energy Water, Energade energy sports drinks and smoothies.

 

Gross profit as a percentage of net sales for the quarter rose to 37.6% from 36.6% for the three months ended March 31, 2002. Selling, general and administrative expenses were $7.2 million for the quarter ended March 31, 2003, compared with $6.0 million a year ago.

 

Sacks also said that sales of the company"s new 16-ounce Monster Energy(TM) drink line were ahead of plan and that the company was optimistic about this new product line.

 

Hansen Natural Corporation markets and distributes Hansen"s® Natural Sodas, Signature Sodas, fruit juice and soy Smoothies, Energy drinks, Energade® energy sports drinks, E(2)0 Energy Water®, functional drinks, Sparkling Lemonades and Orangeades, multi-vitamin juice drinks in aseptic packaging, Junior Juice® juice, iced teas, lemonades and juice cocktails, old fashioned apple juice, cider and juice blends, as well as cereals and bars, Blue Sky® brand carbonated beverages and Monster Energy(TM) brand energy drinks. The company"s subsidiary, Hard e Beverage Co., markets and distributes Hard e malt beverages. Hansen can be found on the Web at www.hansens.com.

 

Certain statements made in this announcement may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding the expectations of management with respect to revenues and profitability. Management cautions that these statements are qualified by their terms/or important factors, many of which are outside of the control of the company, that could cause actual results and events to differ materially from the statements made herein, including, but not limited to, the following: Changes in consumer preferences; changes in demand that are weather related, particularly in areas outside of California; competitive pricing pressures; changes in the price and/or availability of raw materials for the company"s products; the availability of production and/or suitable facilities; the marketing efforts of the distributors of the company"s products, most of which distribute products that are competitive with the products of the company; the introduction of new products; as well as unilateral decisions that may be made by grocery chain stores, specialty chain stores, club stores and other customers to discontinue carrying all or any of the company"s products that they are carrying at any time. Management further notes that the company"s plans and results may be affected by any change in the availability of the company"s credit facilities and the actions of its creditors.

 

HANSEN NATURAL CORPORATION

Consolidated Statements of Income

For the Three Months Ended March 31, 2003 and 2002,

 

2003 2002

 

GROSS SALES $27,695,875 $22,506,610

 

Less discounts, allowances and promotional

payments 5,609,527 3,914,216

 

NET SALES 22,086,348 18,592,394

 

COST of SALES 13,786,527 11,782,313

 

GROSS PROFIT 8,299,821 6,810,081

 

OPERATING EXPENSES:

Selling, general and administrative 7,192,187 6,031,864

Amortization of trademark licenses and

trademarks 10,416 12,776

 

TOTAL OPERATING EXPENSES 7,202,603 6,044,640

 

OPERATING INCOME 1,097,218 765,441

 

NONOPERATING EXPENSE 33,231 75,292

 

INCOME BEFORE PROVISION FOR

INCOME TAXES 1,063,987 690,149

 

PROVISION FOR INCOME TAX 430,916 279,504

 

NET INCOME $633,071 $410,645

 

NET INCOME PER COMMON SHARE:

Basic $0.06 $0.04

Diluted $0.06 $0.04

 

NUMBER OF COMMON SHARES USED

IN PER SHARE COMPUTATIONS:

Basic 10,189,847 10,050,893

Diluted 10,435,953 10,339,732

 

Contact:

 

Hansen Natural Corporation

Rodney C. Sacks/Hilton H. Schlosberg, 909/739-6200

or

PondelWilkinson MS&L

Roger S. Pondel, 323/866-6060

 

Source: Hansen Natural Corporation

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