Net income grew by 95.8 per cent to $5.9 million, with sales rising by 19.9 per cent to $138.5 million from $115.5 million in 2002.
Rodney C. Sacks, chairman and chief executive officer of the firm, said that the record sales and profits for 2003 reflect the strong performance of the Monster Energy drink in 16-ounce cans, introduced in 2002, as well as solid demand for Hansen's natural sodas, energy Deuce drinks, Junior Juice and apple juice.
These figures helped offset lower sales of energy drinks in 8.3-ounce cans, Smoothies, Energade energy sports drinks and teas, lemonades and juice cocktails.
Targetting generation X - the active youth of the country - the firm last week launched a new energy drink in a 16-ounce can under the "Lost" surfing brand name.
From energy to soy, US firm Tofutti, a manufacturer of soy-based, dairy-free frozen desserts and food products reports this week that despite a rise in net sales for the year ended December 27, 2003 - up by 8 per cent to $19.0 million - operating income fell to $1,131,000 from $1,549,000 in the comparable period in 2002.
«The company's operating results continued to be negatively impacted as a result of new product start-up costs, including costs incurred at new co-packaging locations and higher ingredient, packaging and freight charges, » said the firm in statement this week.
Net income for the year ended December 28, 2002 fell by 59 per cent to $386,000.
"Despite our disappointing financial results, we continued to develop new products and increase the penetration of our core products. We also continued to gain significant new customers. and increased our sales by 8 per cent in a difficult and turbulent market for frozen desserts, » said David Mintz, the company's chairman and CEO.