New book by Larry Connors Click here Improve your trading - See how
The Corona, California-based company's third-quarter net income increased to $56.5 million or $0.60 per share from $52.4 million or $0.54 per share a year ago.
On average, seven analysts polled by Thomson Reuters estimated earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the third quarter increased 8.1% to $307.9 million from $285.0 million for the third quarter of 2008. Analysts expected revenues of $309.19 million for the quarter.
Gross sales for the quarter, which adds promotional and other allowances to net sales, increased 9.2% to $355.0 million from $325.2 million in the same quarter last year.
Segment wise, revenue from DSD segment increased 9.6% to $282.4 million from $257.7 million in the year-earlier quarter. Revenue from the company's warehouse segment declined to $25.6 million from $27.3 million in the third quarter of 2008.
Gross profit, as a percentage of net sales, for the third quarter was 53.6%, compared to 52.4% for the comparable quarter last year.
Operating expenses for the third quarter increased to $72.1 million from $67.6 million in the third quarter of 2008. Distribution costs, as a percentage of net sales, were 4.3% for the third quarter, compared with 5.5% in the same quarter last year.
Operating income for the third quarter increased 13.6% to $92.9 million from $81.8 million in the prior-year quarter.
Rodney Sacks, chief executive officer of Hansen Natural, said revenue growth was due to sustained strong sales of Monster Energy drinks, which continue to grow in excess of the category and achieve further gains in market share. "We are encouraged by the positive sales numbers reported by Nielsen for the five weeks ended September 26, 2009, which reflect that energy drink sales both in the important convenience and gas channel as well as the grocery channel, on a year-on-year comparable basis, grew for the first time since March 2009," Sacks said.
The transition to certain Coca-Cola bottlers and new Anheuser-Busch distributors at the end of last year continues to be beneficial as the company's national market share in both the convenience and gas and grocery channels is now higher than it was prior to the transition. Monster Energy's market share in the convenience and gas channel increased to 30% for the first time during the five weeks ended September 26, 2009, the company said.
According to Nielsen, Monster Energy's market share in Canada is also higher than it was prior to the transition to the Coca-Cola system in Canada, the company noted.
Strong sales of Monster Energy drinks had also helped the company boost its second-quarter earnings. The company reported a net income of $57.3 million or $0.60 per share for the second-quarter, compared to $50.2 million or $0.51 per share in the same quarter last year. Net sales increased 6.4% to $300.2 million from $282.2 million a year ago.
Among peers, Dr Pepper Snapple Group, Inc. (DPS | Quote | Chart | News | PowerRating) said Thursday that lower costs helped the company report higher earnings for the third quarter, despite a fall in sales. Net income for the quarter was $151 million or $0.59 per share, higher than $106 million or $0.41 per share in the same quarter last year. Revenue for the quarter declined 4% to $1.43 billion from $1.49 billion in the prior-year quarter.
PepsiCo, Inc. (PEP | Quote | Chart | News | PowerRating), a competitor, reported a 9% year-over-year growth in profit for the third quarter on October 8, helped by productivity and cost control across its businesses, despite a marginal 1.5% decline in revenues. The Purchase, New York-based company reported a net income of $1.72 billion or $1.09 per share for the third quarter, higher than $1.58 billion or $0.99 per share in the prior-year quarter. Net revenue for the quarter edged down 1.5% to $11.08 billion from $11.24 billion in the same quarter last year.
On October 20th , beverages giant Coca-Cola Co. (KO | Quote | Chart | News | PowerRating), yet another competitor, reported a third quarter profit that was flat with the year-ago period, as operational performance across all its business groups were poor. The Atlanta, Georgia-based company reported a third quarter net income of $1.90 billion or $0.81 per share. Net operating revenues for the quarter declined 4% to $8.04 billion from $8.39 billion in the same quarter last year.
Hansen Natural's net income for the nine-month period increased to $155.4 million or $1.63 per share from $131.5 million or $1.34 per share for the same period last year. Net sales for the period increased 9.4% to $852.4 million from $779.4 million for the same period of 2008.
HANS closed Thursday's regular trading at $36.98, up $0.30 or 0.82%, on a volume of 1.28 million shares on the Nasdaq. In after hours, the stock is losing $3.36 or 9.09%, at $33.36.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
