Monster Beverage scores 38% gain in profit
May 10, 2012
by Eric Schroeder
CORONA, CALIF. — Net income at Monster Beverage Corp. in the first quarter ended March 31 totaled $76,099,000, equal to 44c per share on the common stock, up 38% from $55,043,000, or 31c per share, in the same period a year ago. Net sales rose 28% to $454,605,000 from $356,419,000.
Rodney C. Sacks, chairman and chief executive officer, attributed the earnings and sales growth to positive growth trends in the energy drink category, and the Monster Energy brand in particular.
“We are also excited that the growth that we previously reported for our Monster Rehab line has continued unabated,” Mr. Sacks said. “During the quarter, we launched our fifth product in the Monster Rehab line. We are continuing to expand into international markets, and retail sales of Monster Energy commenced in Hong Kong and Macau during April and in Japan and Ecuador earlier this week. We are planning launches in additional international markets later this year.”