Beverage Maker Hansen Triples Profit in Quarter
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Hansen Natural Corp. said third-quarter net income more than tripled, led by higher sales of its fruit juices and nutrition drinks. Its shares rose 13%.
Net income rose to $20.2 million, or 83 cents a share, from $5.8 million, or 24 cents, a year earlier, the Corona-based company said. Sales rose 88% to $126.4 million.
Chairman Rodney Sacks cited sales of energy drinks, including the Monster Energy, Lost and Joker brands. The gains were tempered by slower sales of canned smoothies and natural sodas, the company said.
Hansen shares rose $7.50 to $64.20. The stock has more than tripled this year.
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