Hansen Natural Corp. reported record results for its second quarter, and sales for the first half of the year are up double digits. The company attributed the sales increase to growth of Monster Energy Drink, new distribution through the Coca-Cola and Anheuser-Busch systems, and international expansion.
According to the company, gross sales for its second quarter increased 6.7 percent to $345.8 million, and net sales increased 6.4 percent to $300.2 million. For the first half of the year, gross sales increased 10 percent to $624.7 million, and net sales grew 10.1 percent to $544.5 million.
Rodney C. Sacks, chairman and chief executive officer, said: "We are pleased with the strong performance of the Monster Energy brand in the current challenging economic environment. Our results are even more respectable in light of the overall declines that are being experienced across the board in almost all categories in the North American beverage market, which is the primary market in which we operate."
Sacks said the transition to certain Coca-Cola bottlers and new Anheuser-Busch distributors at the end of last year was responsible for increased share, particularly in the convenience and grocery channels.
He added: "Similarly, in Canada our market share is now higher than it was prior to the transition. Sales in Mexico also continue to be satisfactory. Sales continue to progress well in Continental Europe. Although we got off to a slow start in the United Kingdom, distribution levels and sales are continuing to improve. Sales in Sweden continue to progress well and Spain is off to a good start. Our launch of Monster Energy products in Australia a few weeks ago was successful and we were able to secure extensive distribution from inception." For the full second-quarter results, visit hansens.com.