Markets

U.S. open in 50 hrs, 46 mins

DJIA

12,986.80

-5.86

0.05%

NASDAQ

2,528.85

-4.88

0.19%

S&P 500

1,425.35

1.78

0.13%

10yr Note

100.219

0.00

0.00%

FTSE 100

6,304.30

52.50

0.84%

Nikkei 225

14,219.48

-32.26

0.23%

Hang Seng

25,618.86

105.09

0.41%

Euro (in USD)

1.558

0.0138

0.89%

Yen (per USD)

104.06

-0.62

0.59%

Oil

126.04

2.19

1.77%

Gold

899.90

19.90

2.26%

BUSINESS NEWS

INVESTING

PERSONAL FINANCE

SMALL BUSINESS

Hansen Natural 1Q profit climbs 43 pct, but short of views

AP ONLINE

Posted: 2008-05-07 16:39:10

CORONA, Calif. (AP) _ Beverage maker Hansen Natural Corp. said Wednesday its first-quarter profit climbed 43 percent on strong sales of its Monster energy drinks.

For the quarter ended March 31, net income rose to $28.8 million, or 29 cents per share, from $20.2 million, or 21 cents per share in the prior year quarter.

Analysts polled by Thomson Financial expected profit of 35 cents per share.

The company said its profit was hurt by higher costs, including a 34 percent boost in costs of sales and a 15 percent rise in operating expenses.

Revenue jumped 28 percent to $212.2 million from $165.9 million in the first quarter of 2007. Analysts predicted revenue of $220.7 million.

The company credited strong sales of its Monster Energy brand drinks for its revenue growth. Hansen said the new Java Monster dairy-based coffee drink also performed well.

Shares fell $4.62, or 13 percent, or $30.98 in electronic after-hours trading. During regular trading, shares rose 27 cents to close at $35.60.