Hansen Profit Soars Sixfold
From Times Wire Services
Hansen Natural Corp., maker of fruit juices and other beverages, said Monday that fourth-quarter profit rose almost sixfold, mostly on increased sales of its Monster Energy drink. The company’s shares rose 26%.
Net income rose to $7.33 million, or 61 cents a share, compared with $1.23 million, or 11 cents, a year earlier, the company said.
Sales rose 90% to $50.3 million from $26.6 million a year earlier.
Shares of Corona-based Hansen Natural rose $11.31 to $54.57 on Nasdaq. They had risen 19% this year before Monday.
For 2004, net income more than tripled to $20.4 million, or $1.73 a share, from $5.93 million, or 55 cents, in 2003. Sales increased 63.4% to $180.3 million from $110.4 million.
