HANSENS newest Press Releases indicate:
Hansen Natural Corporation Reports Record Financial Results for 2005 Year; Net Income Triples; Net Sales up 93%
CORONA, Calif.--(Business Wire)--March 9, 2006--
Hansen Natural Corporation (Nasdaq:HANS) today announced
record sales and profits for the year and fourth quarter ended
December 31, 2005.
For the 2005 year, gross sales rose 85.4 percent to $415.4 million from $224.1 million in 2004. Net sales for 2005 increased 93.5 percent to $348.9 million from $180.3 million in the prior year. Operating income grew 205.3 percent in 2005 to $103.4 million from $33.9 million a year ago. Net income advanced 207.9 percent to $62.8 million, or $2.59 per diluted share, from $20.4 million, or $0.86 per diluted share, a year ago.
Rodney C. Sacks, chairman and chief executive officer, said the record sales and profits for 2005 were primarily attributable to substantially increased sales volumes of the company's Monster Energy(R) drinks and, to a lesser extent, of Lost(R) energy drinks and Joker Mad Energy(TM) drinks. Increased sales volumes of apple juice and apple juice blends also contributed to the record sales. He added that the increase in sales was partially offset by decreased sales
volumes primarily of Hansen's(R) Natural Sodas, Hansen's energy
drinks, Energade(R) and Smoothies in cans.
Gross profit as a percentage of net sales for the year rose to 52.3 percent from 46.3 percent in 2004, primarily due to increased sales of higher margin Monster Energy(TM) and Lost(R) energy drinks. Selling, general and administrative expenses as a percentage of net sales were lower than in the previous year.
For the 2005 fourth quarter, gross sales rose 83.9 percent to $113.6 million from $61.8 million a year earlier. Net sales increased 94.7 percent to $98.0 million from $50.3 million in 2004. Operating income increased to $29.8 million from $11.9 million a year ago. Net income increased to $18.4 million, or $0.75 per diluted share, from $7.3 million, or $0.31 per diluted share, in the comparable period in 2004.
The increase in net income for the fourth quarter compared with the prior year period was primarily attributable to the substantial increase in sales volumes of Monster Energy(TM) drinks.
Sacks also said that sales of Monster Energy(TM) "Khaos" energy
drinks was encouraging.
Hansen Natural Corporation markets and distributes Hansen's(R)
Natural Sodas, Signature Sodas, fruit juice Smoothies, Energy drinks, Energade(R) energy sports drinks, E20 Energy Water(R), Sparkling Lemonades and Orangeades, multi-vitamin juice drinks in aseptic packaging, Junior Juice(R) juice, iced teas, lemonades and juice cocktails, apple juice, cider and juice blends, Blue Sky(R) brand carbonated beverages, Monster Energy(TM) brand energy drinks, Lost(R) Energy(TM) brand energy drinks, Joker Mad Energy(TM) and Rumba(TM) brand energy drinks and Fizzit(TM) brand Powdered drink mixes. Hansen's can be found on the Web at www.hansens.com.
HANSEN NATURAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME
FOR THE THREE- AND TWELVE-MONTHS ENDED DECEMBER 31, 2005 AND 2004
(Unaudited)
----------------------------------------------------------------------
Three Months Ended Twelve Months Ended
December 31, December 31,
------------------------- --------------------------
2005 2004 2005 2004
------------ ----------- ------------ ------------
GROSS SALES(a) $113,570,741 $61,760,023 $415,417,282 $224,097,875
LESS:
Promotional and
other
allowances(b) 15,560,656 11,422,691 66,530,916 43,756,740
------------ ----------- ------------ ------------
NET SALES 98,010,085 50,337,332 348,886,366 180,341,135
COST OF SALES 46,066,902 25,346,905 166,343,118 96,874,750
------------ ----------- ------------ ------------
GROSS PROFIT 51,943,183 24,990,427 182,543,248 83,466,385
OPERATING
EXPENSES:
Selling, general
and
administrative 22,127,457 13,063,306 79,029,837 49,507,137
Amortization of
trademarks 26,010 14,403 70,102 73,046
------------ ----------- ------------ ------------
NET INCOME PER
COMMON SHARE:
Basic $ 0.83 $ 0.34 $ 2.85 $ 0.96
============ =========== ============ ============
Diluted $ 0.75 $ 0.31 $ 2.59 $ 0.86
============ =========== ============ ============
NUMBER OF COMMON
SHARES USED IN
PER SHARE
COMPUTATIONS:
Basic 22,194,187 21,783,698 22,055,983 21,333,784
============ =========== ============ ============
Diluted 24,550,459 23,911,188 24,272,235 23,619,880
============ =========== ============ ============
(HANSEN NATURAL CORPORATION AND SUBSIDIARIES
CONDENSED BALANCE SHEETS
AS OF DECEMBER 31, 2005 AND 2004 (Unaudited)
----------------------------------------------------------------------
2005 2004
------------- ------------
ASSETS
------
CURRENT ASSETS:
Cash and cash equivalents $61,654,284 $3,676,119
Short-term investments 11,860,665 17,300,000
Accounts receivable, net 28,751,588 12,650,055
Inventories 31,399,628 22,406,054
Prepaid expenses and other current assets 477,237 638,967
Prepaid income taxes 637,794
Deferred income tax asset 5,505,264 3,708,942
------------- ------------
Total current assets 140,286,460 60,380,137
PROPERTY AND EQUIPMENT, net 3,742,958 2,964,064
INTANGIBLE AND OTHER ASSETS:
Trademarks, net 19,103,049 18,351,804
Deposits and other assets 757,215 326,312
------------- ------------
Total intangible and other assets 19,860,264 18,678,116
------------- ------------
$163,889,682 $82,022,317
============= ============
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------
CURRENT LIABILITIES:
Accounts payable $26,613,663 $14,542,753
Accrued liabilities 2,481,703 1,582,968
Accrued compensation 3,346,243 1,831,627
Current portion of long-term debt 515,221 437,366
Income taxes payable - 346,449
------------- ------------
Total current liabilities 32,956,830 18,741,163
LONG-TERM DEBT, less current portion 10,123 146,486
DEFERRED INCOME TAX LIABILITY 5,413,880 4,563,439
COMMITMENTS AND CONTINGENCIES - -
STOCKHOLDERS' EQUITY:
Common stock - $0.005 par value; 30,000,000
shares authorized; 22,607,128 shares
issued, 22,193,606 outstanding in 2005;
22,239,728 shares issued, 21,826,206
outstanding in 2004 113,036 111,198
Additional paid-in capital 19,917,748 15,757,942
Retained earnings 106,292,610 43,516,634
Common stock in treasury, at cost; 413,522
shares in 2005 and 2004 (814,545) (814,545)
------------- ------------
Total shareholders' equity 125,508,849 58,571,229
------------- ------------
$163,889,682 $82,022,317
============= ============
*T
Hansen Natural Corporation
Rodney C. Sacks, 951-739-6200
Hilton H. Schlosberg, 951-739-6200
or
PondelWilkinson Inc.
Wade Huckabee, 310-279-5980
Copyright Business Wire 2006
09Mar06 08:50 GMT
Symbols:
de;HNA us;HANS
Source BW Business Wire
AI
