UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 10, 2005
Hansen Natural Corporation
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-18761 39-1679918
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(Commission File Number) (IRS Employer Identification No.)
1010 Railroad Street
Corona, California 92882
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(Address of principal executive offices and zip code)
(951) 739 - 6200
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(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
Item 2.02. Results of Operations and Financial Condition
On May 10, 2005, Hansen Natural Corporation issued a press release relating
to its financial results for the first quarter ended March 31, 2005, a copy of
which is furnished as Exhibit 99.1 hereto.
Hansen Natural Corporation held a conference call on May 10, 2005. A replay
of the conference call will be available until June 10, 2005 at
http://www.hansens.com/scripts/html/companyinfo.tpl
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
The following exhibit is furnished herewith:
Exhibit 99.1 Press Release dated May 10, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Hansen Natural Corporation
Date: May 11, 2005 /s/ Hilton H. Schlosberg
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Hilton H. Schlosberg
Vice Chairman of the Board of Directors,
President and Chief Financial Officer
CONTACTS: Rodney C. Sacks
Chairman and Chief Executive Officer
(951) 739-6200
Hilton H. Schlosberg
Vice Chairman
(951) 739-6200
Roger S. Pondel
PondelWilkinson Inc.
(310) 279-5980
Hansen Natural Reports
Record First Quarter Sales and Profits;
--Net Sales Increase 91.7 percent, Net Income Quadruples
CORONA, Calif., May 10, 2005 -- Hansen Natural Corporation (NASDAQ:HANS)
today reported record financial results, including sharp increases in sales and
profits, for the first quarter ended March 31, 2005.
Gross sales for the first quarter increased 90.3 percent to $73.7 million
from $38.7 million a year earlier. Net sales for the first quarter increased
91.7 percent to $60.0 million from $31.3 million a year ago. Operating income
for the first quarter quadrupled to $14.7 million from $3.6 million a year ago.
Net income for the first quarter also quadrupled to $8.8 million, or $0.73 per
diluted share, from $2.2 million or $0.19 per diluted share, last year.
Rodney C. Sacks, chairman and chief executive officer, said the exceptional
performance reflected record sales of Monster Energy(TM) drinks, including
Lo-Carb Monster Energy(TM) drinks, as well as Monster Energy(TM) "Assault"(TM)
energy drinks which were introduced in September 2004 and Lost(R) Energy drinks
which were introduced in January 2004, as well as sales of Joker(TM) energy
drinks in 16-ounce cans which were introduced in January 2005, and increases in
sales, primarily of Hansen's(R) apple juice and juice blends, as well as
Hansen's(R) children's multi-vitamin juice drinks in aseptic packaging. The
increase in sales was also attributable, to a lesser extent, to sales of
Rumba(TM) energy juice, which was introduced in December 2004.
The sales increase was partially offset primarily by lower sales of
Hansen's(R) Natural Sodas, Hansen's energy and functional drinks, Energade(R)
energy sports drinks, E20 Energy Water(R) drinks and smoothies in cans.
Gross profit as a percentage of net sales for the quarter increased to 50.5
percent, from 44.4 percent for the comparable 2004 quarter. Selling, general and
administrative expense as a percentage of net sales decreased to 26.0 percent,
from 32.7 percent in the previous year.
Hansen Natural Corporation markets and distributes Hansen's(R) Natural
Sodas, Signature Sodas, fruit juice and soy Smoothies, Energy drinks,
Energade(R) energy sports drinks, E20 Energy Water(R), functional drinks,
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,
Rumba(TM) brand energy juice and Joker(TM) brand energy drinks. Hansen can be
found on the Web at www.hansens.com.
Certain statements made in this announcement may constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, regarding the expectations of management with respect to revenues
and profitability. Management cautions that these statements are qualified by
their terms/or important factors, many of which are outside of the control of
the company, that could cause actual results and events to differ materially
from the statements made herein, including, but not limited to, the following:
Changes in consumer preferences, changes in demand that are weather related,
particularly in areas outside of California, competitive pricing pressures,
changes in the price and/or availability of raw materials for the company's
products, the availability of production and/or suitable facilities, the
marketing efforts of the distributors of the company's products, most of which
distribute products that are competitive with the products of the company, the
introduction of new products, as well as unilateral decisions that may be made
by grocery chain stores, specialty chain stores, club stores and other customers
to discontinue carrying all or any of the company's products that they are
carrying at any time. Management further notes that the company's plans and
results may be affected by any change in the availability of the company's
credit facilities and the actions of its creditors.
HANSEN NATURAL CORPORATION
Consolidated Statements of Income
For the Three Months Ended March 31, 2005 and 2004
2005 2004
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GROSS SALES $73,728,442 $38,740,927
LESS: Discounts, allowances and promotional
payments 13,714,170 7,442,144
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NET SALES 60,014,272 31,298,783
COST OF SALES 29,684,954 17,390,962
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GROSS PROFIT 30,329,318 13,907,821
OPERATING EXPENSES:
Selling, general and administrative 15,591,572 10,243,238
Amortization of trademark licenses and
trademarks 14,246 20,096
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TOTAL OPERATING EXPENSES 15,605,818 10,263,334
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OPERATING INCOME 14,723,500 3,644,487
NET NONOPERATING (INCOME)/EXPENSE (117,518) 10,614
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INCOME BEFORE PROVISION FOR
INCOME TAXES 14,841,018 3,633,873
PROVISION FOR INCOME TAX 5,996,305 1,450,592
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NET INCOME $ 8,844,713 $ 2,183,281
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NET INCOME PER COMMON SHARE:
Basic $ 0.81 $ 0.21
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Diluted $ 0.73 $ 0.19
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NUMBER OF COMMON SHARES USED
IN PER SHARE COMPUTATIONS:
Basic 10,935,709 10,434,770
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Diluted 12,060,833 11,463,633
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