Hanson Natural (HANS) Shares Tumble as Q1 Results Miss the Street
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Hanson Natural Corp. (NASDAQ: HANS) said Thursday that results in the first quarter were lower-than-expected as advance orders from earlier periods hurt the company. Shares of the stock have fallen more than 16 percent today, last trading around $35.66.
The maker of Monster Energy drinks reported quarterly earnings of $32.6 million or 35 cents per share, down from $416 million or 44 cents per share in the same quarter last year. Analysts had been expecting a loftier result of 46 cents per share.
Revenue for Hanson Natural fell 2.5 percent to $238.1 million, widely missing the analyst estimate of $257.24 million.
The company said that it is planning to expand its brands around the globe as international sales did rise to $37.8 million overseas from $35.3 million in the year-ago quarter.
"We are planning to introduce new products in 2010, both domestically and internationally and we are continuing with our international expansion plans in Western, Central and Eastern Europe, the Middle East and South America, as well as evaluating additional geographies and opportunities for the Monster Energy® brand," Rodney C. Sacks, chairman and chief executive officer said.
The maker of Monster Energy drinks reported quarterly earnings of $32.6 million or 35 cents per share, down from $416 million or 44 cents per share in the same quarter last year. Analysts had been expecting a loftier result of 46 cents per share.
Revenue for Hanson Natural fell 2.5 percent to $238.1 million, widely missing the analyst estimate of $257.24 million.
The company said that it is planning to expand its brands around the globe as international sales did rise to $37.8 million overseas from $35.3 million in the year-ago quarter.
"We are planning to introduce new products in 2010, both domestically and internationally and we are continuing with our international expansion plans in Western, Central and Eastern Europe, the Middle East and South America, as well as evaluating additional geographies and opportunities for the Monster Energy® brand," Rodney C. Sacks, chairman and chief executive officer said.
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