Hansen Natural Corp. continued to record solid profits in the crowded energy drink market, and now the Corona-based company is on the verge of doing it with help from one of the world's best beverage distributors.
Hansen announced record earnings for its third quarter. The company reported a net profit of $52.4 million for the three months that ended Sept. 30, 14.5 percent higher than the same period in 2007, according to a release. The earnings equate to 54 cents per share.
Sales increased 15.3 percent in the quarter from a year ago, to $285 million.
In the fourth quarter Hansen will operate under its newly reached deal with the Coca-Cola Co., which will put popular Monster energy drink line and other Hansen products into Coca-Cola's huge distribution network in North America and Europe.
Monster continues to take market share from Red Bull, the most popular brand. Red Bull sales are up 6.3 percent. Monster sales have increased 24.3 percent, Sacks told analysts.
Published: Monday, November 17, 2008