CORONA, CALIF. — Income for Monster Beverage Corp. increased 5% during the third quarter on strength in the energy beverage category, although the company’s revenue growth rate was less than expected.
For the quarter ended Sept. 30, the company had income of $86,142,000, equal to 49c per share on the common stock, which compared with income of $82,392,000, or 47c per share, during the same quarter of the previous year. Sales for the quarter were $541,940,000, up 14% from $474,709,000.
“We are pleased to report another quarter of record results,” said Rodney C. Sacks, chairman and chief executive officer. “The energy drink categories in the United States and Europe continue to experience positive growth rates, with the Monster Energy brand increasing in excess of such category growth. We are continuing to plan launches in new international markets later this year and in 2013. While the company achieved less robust growth in sales dollars than in previous quarters, gross sales for the company in October 2012 increased by approximately 28% over the same month last year.”
For the nine months ended Sept. 30, income increased 23% to $272,037,000, or $1.55 per share, which compared with $221,683,000, or $1.25 per share, during the same period of the previous year. Sales for the period were $1,589,185,000, up 23% from $1,293,273,000.These results were released as the company faces a wrongful death suit filed on Oct. 17 and news the U.S. Food and Drug Administration may be investigating a possible link between the consumption of energy drinks and deaths of five people.