Hansen Natural upbeat after 2Q results

- Last updated on GMT

Related tags: Sales, Hansen natural, Generally accepted accounting principles

Energy drink maker Hansen Natural reported record gross and net
sales for the second quarter ended June 30, 2002. The company
attributed strong sales to its core beverage lines and new product
introductions.

Energy drink maker Hansen Natural reported record gross and net sales for the second quarter ended June 30, 2002. The company attributed strong sales to its core beverage lines and new product introductions.

Gross sales for the second quarter increased 18.3 per cent to $32.7 million (€33.6m) from $27.6 million a year earlier. Net sales for the second quarter increased 16.7 per cent to $26.3 million from $22.5 million a year ago.

Operating income for Hansen's​second quarter was $2.2 million compared with $2.0 million a year ago. Net income for the second quarter was $1.3 million, compared with $1.1 million in the comparable period in 2001.

Gross sales for the six months ended June 30, 2002, increased 15.1 per cent to $55.2 million from $47.9 million a year earlier. Net sales for the same period increased 13.8 per cent to $44.9 million from $39.4 million last year.

Operating income for the six-month period was up to $3.0 million from $2.7 million a year ago. Net income for the first six months was $1.7 million, compared with $1.4 million in the comparable six months in 2001.

Rodney C. Sacks, chairman and chief executive officer, said: "Our record sales performance in the second quarter of 2002 continues to reflect the strength of the Hansen's brand, particularly Natural Sodas in cans, energy drinks in 8.3-ounce cans, Apple Juice and Children's Multi Vitamin drinks.

Sales from Energade energy sports drinks, E20 Energy Water, Soy Smoothies, the company's new Monster energy drink, and Junior Juice products also contributed to the increase in sales during the second quarter and first six month period of the year."

He noted that the increase in sales was partially offset by decreased sales of Smoothies, Signature Sodas, Hard e and Iced Teas & Juice Cocktails.

"We are particularly pleased with the sales of our new Monster energy drink which has been well received by both retailers and consumers,"​ Sacks said.

Gross profit for the second quarter of 2002, as a percentage of net sales, was 37.4 per cent, which was marginally higher than the 37.3 per cent in the second quarter of 2001. Gross profit for the six-month period, as a percentage of net sales, decreased to 37.1 per cent from 37.3 per cent in the same period of 2001. The change in gross profit was primarily due to a change in the company's product and customer mix, said Hansen.

Sacks also indicated that sales of Hansen's Diet Sodas continues to be strong. He added that the company was continuing with the launches of Monster, Energade, E20 Energy Water and Sparkling Lemonades and Orangeades, as well as Soy Smoothies in aseptic packaging.

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