CORONA, CALIF. — Positive growth in the energy drink category boosted earnings at Monster Beverage Corp. in the second quarter. Net income in the quarter ended June 30 was $109,795,000, equal to 62c per share on the common stock, up 30% from $84,248,000, or 48c per share, in the same period a year ago.
Net sales increased 28% to $462,145,000.
Rodney C. Sacks, chairman and chief executive officer, cited particular growth for the company’s Monster Energy brand in the United States and Europe, but he also said the company is making solid progress on global expansion.
“We are continuing to expand into new international markets with retail sales of Monster Energy commencing in Ecuador, Hong Kong, Japan, Macau and Slovenia in the second quarter,” Mr. Sacks said. “We are planning launches in additional international markets later this year and in 2013.”
For the first six months of fiscal 2012, net income was $185,895,000, or $1.06 per share, up 33% from $139,291,000, or 79c per share, in the same period a year ago. Net sales rose 28% to $1,047,245,000 from $818,564,000.