Strong sales but profit down at Hansen Natural
quarter thanks to its core beverage lines and new product
introductions. Gross profit was down slightly however, due to a
change in product and customer mix, according to the
California-based company.
California-based natural foods marketer Hansen Natural last week reported strong sales for the third quarter ended September 30, 2002, supported by core beverage lines and new product introductions.
Gross sales for the third quarter increased 21.8 per cent to $34.5 million from $28.3 million a year earlier. Net sales for the third quarter increased 16.8 per cent to $27 million and operating income remained level with last year's results.
Gross sales for the first nine months of the year increased 17.6 per cent to $89.6 million from $76.2 million a year earlier, while net sales for the same period increased 14.9 per cent from last year's figures. Operating income for the nine-month period was up slightly on last year's nine-month period.
Rodney C. Sacks, chairman and chief executive officer at Hansen, said: "Our record sales performance in the third quarter of 2002 continues to reflect the strength of the Hansen's brand, particularly Natural Sodas in cans, Apple Juice, E20 Energy Water, Smoothies in cans, Energade energy sports drinks, energy drinks in 8.3-ounce cans and Children's Multi Vitamin drinks."
He added that sales from the company's new Monster energy drink and new Soy Smoothie line also contributed significantly to the increase in gross sales.
However, the increase in sales was partially offset by decreased sales of Junior Juice, Signature Sodas, Healthy Start, Iced Teas & Juice Cocktails and Hard e.
Gross profit for the third quarter of 2002, as a percentage of net sales, was 35.9 percent, which was lower than the 36.7 percent achieved in the third quarter of 2001. Gross profit for the nine-month period was also slightly lower than the same period last year. The change in gross profit was primarily due to a change in product and customer mix, said the company.
